Globalization And Its Impact to Economy

The term globalization, has a very wide and many aspects. Globalization means the spread of knowledge, culture, technology and communication all over the world. Globalization embrace many things, such as economic, politic and even law. Globalization that occured in this millenium, really affect the citizens. The people quickly influenced by it and globalization somehow create a new lifestyle.

Globalization itself has many positive effects but also negative side of it. Globalization can give benefits such as easier to get information from all around the world since media, technology and internet has spread rapidly and accessibly. But then, there’s also a negative effect of globalization like ‘westernization’, in which Indonesian citizens influenced by the life of the western. It will gradually lose the identity and also the state sovereignity.

Here the globalization and its impact on economy. Globalization can be used as a instrument for the superpower states to increase their presence in the world. Powerful and rich countries and can indirectly control the world economy. This makes smaller countries or developing countries difficult to compete. Globalization can be a new form of modern capitalism.

Globalization in the economic field can be regarded as a process that involves trading countries in the world and form a large market over countries. While globalization occurs, the boundaries of a country will increasingly blurred. The good effect is domestic products can be brought to the international market. But otherwise, the entry of foreign products in the national market could threaten the existence of local products in a country. 

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