Advantages and Disadvantages of Globalization

Podasca Raluca ()
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Podasca Raluca: “Petro&Gas” University, Ploiesti

Ovidius University Annals, Economic Sciences Series, 2010, vol. X, issue 1, 768-771

Abstract: Globalization has become one of the most debated issues of our times. Considering that many of the approaches to this phenomenon do not have an answer yet, we are still dealing with multiple interpretations, some even contradictory. The globalization of the world economy entails common standards and values; it can generate both global balance and imbalance having both winners and losers. Failure to adapt to the globalization process brings along a series of disadvantages that lead to poverty and economic crisis. Every country must confront and adapt to this inevitable and irreversible process that is globalization.

Keywords: globalization; poverty; economic crisis; competitiveness; labor productivity index of economic globalization. (search for similar items in EconPapers)
JEL-codes: F02 F15 F41 (search for similar items in EconPapers)
Date: 2010
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