Even though globalization affects the world's economy in a very positive way it's negative side should not be forgotten. What's your views, discuss and give reasons for your answer and include any relevant examples from your own experience or knowledge

Advancement in technology have always lead to introduction and discovery of certain methods and reforms. Recent progress in the technological world has left a connecting link all over the world through globalization. It defines how people, culture and economies from different parts of the world interact and integrate, which has ultimately resulted in international business expansion. Even though trade practices all over the globe started way back, it came into form only in the 20th century. This has left a striking impact on global business and industrial development. However, it's implementation showcased certain ups and downs in recent years which needs special attention. Application of globalization have resulted in numerous achievements to international businesses in the form of reduced manufacturing cost. Effective utilisation of resources from other countries and interaction among people of different cultures are indeed some of the perks of being globalised. It does not simply refer to development in international businesses, but also the contributions made for a higher standard of living through the connections and interactions established on account of these advancements. For instance, World Trade Organization was formed in order to resolve disputes regarding international matters. Despite these reforms I cannot completely rely on globalization for many aspects namely currency fluctuations, poverty, initial investment expenditure and many more. For example, international trade takes place in the form of US dollars and currency rates are prone to wide variations on a daily basis. This can have an adverse impact on global businesses eventually leading to unpredictable pricing strategy. Since global market is a place for every international businesses one cannot avoid the consequences of cut throat competition. What I believe is that implementation alone cannot afford success to such reforms, they also require certain follow-up processes. Recognised authorities must ensure proper plan of action and follow-up for implementing globalization so as to reduce their dreadful consequences.