Benefits of globalization

In this new video from Unprofesor we will explain "Benefits of globalization".

Benefits of globalization. Let's start by defining "globalization". Globalization is the historical process of global integration of different spheres (such as the economic, political, social, cultural and technological), who have turned the world into a global village. That is, the world, the markets, decision-making, the way of producing, the way of selling what is produced... it has become something on a planetary, global scale. There is no longer (so to speak) a market in each town, which also... but the market, is something on a planetary level. In fact, it is the result of the consolidation of capitalism.

As well as the main advances in telecommunications systems (especially the Internet). In other words, it is the need to expand the flow of world trade. Now we will see the Benefits that globalization has produced. The first would be cost reduction. As the market grows and strengthens, costs tend to go down. Which allows to produce at a lower price, have more competitive prices and in some way that influences a higher quality of the products. That is to say, now we can go to find the raw materials where we are most interested and we can even produce the products where those raw materials are... all that makes the cost of each product have diminished.

The second would be the higher quality of the products (closely linked to the reduction of costs). As there are fewer costs, the pros and cons of the product can be better studied, market studies... aspects that make the products rise in quality. A third benefit would be world peace. It's easy to understand; If each country is economically and financially interconnected with the others, it is logical to think that the incentives for conflict diminish. That is, you will not go to war, you will not cause a conflict in a 3rd country if your economy (in part) depends on that country.

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