According to the World Bank, Globalization is the growing integration of economies and societies around the world. The net effect of globalization is both positive and negative. The positive side is that the middle class becomes richer as globalization continues. Secondly, there are more job opportunities in undeveloped countries such as India, they are able to communicate with different people. And thirdly, people get to purchase products from other countries.
The negative side is that as the middle class get richer, the poorer people get poorer. The second example is that countries are losing their traditions. Take India for example, people are wearing more westernized clothes. The third reason is that many companies are "out sourcing". Out sourcing means that a company closes down in American and goes and opens in India because its cheaper. And because of this many Americans are losing their jobs.
So as you can see, there are both positive and negative effects of globalization.
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