I think the most important positive aspect of globalization is that it makes us more interdependent on each other, which makes the notion of wars more detrimental and less likely; the most important negative of globalization is that it can damage a national sense of unity that binds otherwise ideologically opposed populations together and can be damaging in a more local sense of creating divisions. While bring the world closer together, it has potential to tears nations apart from within.

Positives of Globalization

1. Developing countries get benefits from it through lead themselves towards economic success and ultimately achieve better standard of living as well.

2. It boosts the ongoing competition between countries all over the world as well as within any particular country.

3. Increased media coverage helps in drawing attention towards those parts of the world where human rights are violated for the benefit of the rich and powerful. This leads to improvement in human rights.

4. It increases exposure in the form of food, movies, art, music, clothing, culture, etc. This is a great way of forming closer bonds with the rest of the world.

5. It leads to a sense of competition in others; hence helping in keeping the prices of commodities under check during all times.

6. Developing countries can use existing technologies without the stress of developing any particular technology.

7. It helps in bringing different governments together so that they can work together towards achieving common goals; which is a great way of spreading global awareness regarding common concerns and issues.

Negatives of Globalization

1. It is widening the gap between the rich and poor; where rich people are becoming richer and poor are becoming poorer.

2. As a result of outsourcing, globalization may deprive an entire country of its jobs and resources. This is because globalization takes jobs away from one country and provides it to another country; hence leaving lots of people without the opportunities that they deserve.

3. Although people belonging to different cultures and countries get a chance to interact with each other, it causes a loss in tradition and values.

4. As species are deprived of their non- native ecosystems, there are increased chances of them spreading diseases and disrupting other natural ecosystems and their native species.

It is very important to strike balance between the positives and negatives of globalization so that balance can be restored in nature and its living species.

I think the most important positive aspect of globalization is that it makes us more interdependent on each other, which makes the notion of wars more detrimental and less likely; the most important negative of globalization is that it can damage a national sense of unity that binds otherwise ideologically opposed populations together and can be damaging in a more local sense of creating divisions. While bring the world closer together, it has potential to tears nations apart from within.

Our attached publication (pdf) on: The Dialectics of Modernity (Recognizing Globalization, 2014, Budapest) offers a lot of perspectives, concerning your query.

My opinion is that, after the complete fall of the state command economies around 1990, global capitalism is a logical outcome and stage of history. Now, after ~30 years, the global fight for markets intensifies and national protectionsm is on the rise. It is easier to preach free trade, when borders and walls are closed; once the whole world has become a huge financial capitalist market, nationalist concerns and fears resurrect. To sum it up: global capitalism (as contrary to national capitalism) needs a capitalist welfare system (new societal deal) or human history will speak its dictum on it. This refers to both, ecological externalities ('ecocide') and economic fairness (taxing monopolies for public revenue=geonomics).

'Globalisation' reinforced 'Knowledge' & 'Diversities' stablize 'Population' against unforeseen 'Danger'

A result of globalization, the economic growth of both developing and developed countries is impacted positively and negatively.  Here are some of the positive and negative effects of globalization.

Globalization made it easier for countries to establish multilateral relationships. It also made easier for reasearcher to build a knowledge interchange. In my humble opinion, though, it has seemingly helped more powerful nations to exert more power over developing countries, similar to colonialistic relationship.

Globalization at it's inception offered those countries and its signatories immediate economies of scale. As tech' was largely insulated those developing nations were able to leverage economic benefit through careful legislative means. Macro level interplay was largely the domain of this period. In 2018 that paradigm has shifted to a micro level where tech has become embedded in just a about every sector of the economic model. As a result the level of skill required to contribute towards this new platform/s has exponentially diminished you now have a plethora of quantity of significantly lesser quality. the web was largely ignored for a very long time between 1995-2000 and this is the period when mainstream disruption was seeded by a smart few....You now see the results playing out in the 21st century..

According to our research starting with my PhD thesis at NYU Mallick (1993 and then 1994 and so on..) Globalisation can be perfectly well achieved with Financial Markets and Information Technology innovations and the www networks, which is exactly what is happening. The world growth rates has picked up in the steady state with forward looking forecasts and expectations.

S.K.Mallick

for S.K.Mallick, S.Raychaudhury, S.Mallick and others

RHMHM School

USA, Japan, India

Info tech and the advent of complex financial modelling provide an effective façade against a backdrop of economic and political meddling. If the technology advances beyond a level that we as humans cannot effectively control without the constant lure of manipulation then it will never be corrected to reflect the norms of basic supply and demand as we knew it pre war. Globalization has effected an unhealthy one world model of economic practice that promotes the value of stock over the value of society. Largely left untouched we now find this model is no longer demand driven. Instead production capability is extended to reduce the cost of sustaining it hence offering the bottom line additional upside. Any spill over is not accounted for and this area is where gross imbalance has created catastrophic results for the banking sector..

globalisation is anti competitive and therefore runs against the ethos of free market capitalism. It has resulted in a false value standard on the currency front as an erosion of sovereignty has resulted in cherry picking of goods and services to meet the agenda. If that is good or bad for the individual nations is besides the point and therefore it is unhealthy..

Broadening the market and lowering the transaction cost

Increase gap between rich countries and poor countries. (-)

Positive Aspects of Globalization:

1. There is an International market for companies and for consumers, there is a wider range of products to choose from it.

2. Increase in flow of investments from developed countries to developing countries, which can be used for economic reconstruction.

3. Greater and faster flow of information (through TV, Internet) between countries and greater cultural interaction has helped to overcome cultural barriers.

4. Technological development has resulted in reverse brain drain in developing countries.

5. India gained highly from the LPG model as its GDP increased to 9.7% in 2007-2008.

Negative Aspects of Globalization:

1. The outsourcing of jobs to developing countries has resulted in loss of jobs in developed countries as a result, now they are following protectionism measures, for example USA is stopping BPO.

2. There is a greater threat of spread of communicable diseases.

3. There is an underlying threat of multinational corporations with immense power ruling the globe. For smaller developing nations at the receiving end, it could indirectly lead to a subtle form of colonization. Exploitation of labour by offering low wages.

4. Young boys and girls watching blue movies/porn videos in the internet by neglecting their studies.

5. Our culture, customs and age old good traditions are vanishing day by day, in their place unhealthy things are coming in vogue.

6. Even after globalization, condition of agriculture has not improved. The share of agriculture in the GDP is only 18%. The number of landless families has increased and farmers are still committing suicide.

It seems to me that it is good that there was a discussion in the question of this question.

The answers given are very inspiring. Thank you for your answers and I encourage you to continue your discussion, to continue the interesting discussion.

Does anyone from you conduct research in this area? Does anyone from you study the processes of contemporary economic and information globalization? I am asking because in some of my publications I am dealing with this issue and I would like to get to know different views on this subject.

The most positive one is availability of everything you need/want, as long as you can afford it; the most negative is increased intedependancy, so even if one did nothing wrong, he can suffer due to others' actions ( butterfly effect).

Following

regards

the professional sports industry would be an interesting hypothesis case. For instance most professional sports leagues have a bias either side of the debate. US professional sports comprise an overwhelming majority of American born and bred athletes. This is evident throughout all the major league franchises (NHL, NBA, NFL). It is no co-incidence that these franchise banners offer the most lucrative contracts of any professional sporting competition globally. Football on the other hand is played by more athletes globally yet the correlation between where these franchise brands are domiciled and the origin of those that span its ranks is not linear. Does the American model therefore prove that the heuristic US model of Nationalistic domination of a global sports brand that is inherently incestuous yet Internationally relevant disproves the notion that globalised integration is not essential to achieve global success??

'Objectivity' under 'Globalisation' via,

1. 'Education'

2. 'Innovation'

3. 'Technology'

4. 'Environment'

5. 'Business or Economic interest'

In 'Indian' culture of 'Hinduism' slogan 'Atithi Devo Bhava' is widely accepted & 'Globe' is one 'Family'

"On the other hand, international operating industrial corporations move their factories from country to country, looking for cheaper workforce, and international trading and service corporations set up subsidiaries and sales outlets in other countries. Capital links grow transnational and thus systemic risk grows, whose sources can be related to the progressing economic globalization."

I think you touch on the crucial nexus point where the law of diminishing returns inflicts its antiquated philosophy in 21st century economics. subsidiaries and secondary markets are one of two things, minimise overheads and insulate earnings. Globalization has run its course in terms of optionality of economies of scale and will only really suffice tot he extent that The developing world offers itself as exactly that "developing" or "undeveloped". Once they become "reasonably" self sufficient they are cast aside as old tools of leverage in an ever increasingly interconnected world. Legislation is a crucial binding factor that makes the globalization debate a rather tenuous one to say the least. Trade agreements that have been entrenched in legal scribble cannot be easily disentangled and this is the conundrum that the UK currently faces. As the world gravitates back to a more nationalistic theme and nations seek to rediscover their sovereignty it will add more weight to restoring value , not only in the dollar but also in larger scale M&A activity. Effectively the ease of M&A to date has been enhanced by globalization yet ironically the value of such deals has diminished that much more due to the erosion of competition on a global scale. A slide in the "real value" of the stock price has been spurned by the exponential explosion of debt through increased hyper liquidity that is yet to be reflected by current inflation rates...….

Can current globalization processes increase the systemic risk of global economic and financial crises?

Yes. In my opinion, globalization is leading to the Integration of Business Cycles. In this way, globalization may deepen economic crises, including the global financial and debt crisis. An example was the global financial crisis, which appeared in mid-September 2008. At that time bankruptcy was announced by one of the largest investment banks in the world. As a result of unreliable credit risk management procedures, billions of USD of financial losses have been generated. It turned out that the unwritten rule no longer works, that "big can not fall". However, it is the emergence of ever larger international corporations and financial institutions that is one of the main determinants of the processes of economic globalization that have been progressing in recent years. these processes continue. Every few years, as a result of the merger of some of the largest financial institutions through mergers and acquisitions, more and more banks are formed. On the other hand, international operating industrial corporations move their factories from country to country, looking for cheaper workforce, and international trading and service corporations set up subsidiaries and sales outlets in other countries. Capital links grow transnational and thus systemic risk grows, whose sources can be related to the progressing economic globalization.

Please reply. I invite you to the discussion

Economic growth

The most important positive aspect of globalization is economic convergence between poor and rich countries (Baldwin, 2016: The Great Convergence). Developing countries grow faster than advanced economies thanks to globalization. However economic inequalities are important issues within countries. The most important negative aspect is probably political tensions due to rigid ideologies and peoples' excessive fear regarding potential loss of cultural identity.

Most certainly, globalization brings different groups of people together and increases human interactions tremendously. It has helped us with fantastic opportunities for benefiting from global achievements in an unprecedented manner. However, globalization not only weakens all aspects of intra-community values but it also causes a strong economic dependence on more advanced countries.

In the context of the above considerations, the following question is also current: Do large corporations and financial institutions contribute to the generation of globalization processes? Do multinational corporations and financial institutions, including banks and investment funds, play a significant role in generating globalization processes? In recent years, the importance of supranational large corporations and financial institutions, including banks and investment funds, has been growing. These large industrial, service, commercial and financial corporations are a particularly important factor in contemporary globalization processes. If such large corporations operate cross-border, cross-border in many countries, including small economies, generate negative processes of globalization, then in these countries reverse and deglobalization processes may appear. Deglobalization, ie the reverse process to globalization, is taking place most strongly in those economic regions in which globalization processes generate many negative aspects. In view of the above, I would like to ask you: Do multinational corporations and financial institutions, including banks and investment funds, play a significant role in generating globalization processes? Please, answer, comments. I invite you to the discussion.

Are there verified and scientifically justified forecasts of the potential emergence of another global financial crisis?

In recent years, the importance of the problems of scientific attempts to verify and justify for formulated forecasts of the potential emergence of another global financial crisis is growing. The problem is particularly important because some of these theories suggest that the next global financial crisis may be similarly surprising for the majority of economic entities, but it may also be characterized by a sub-standard or higher level of negative economic effects of the downturn in the situation of the next global financial crisis.

There is no objective justification, which could be universally recognized as a highly probable forecast developed on the basis of eg an efficient combination of several theories developed on the basis of conducted scientific research. If that happened, then the principle of "self-checking prophecy" would work and expected on the basis of a widely recognized forecast at a given time the global financial crisis would not appear in the form or time when it was expected. The forecast event would not have appeared because the majority of interested persons, entities, including banks and investment funds, prepared for this expected event. As most stakeholders would trigger appropriate additional preventive and / or prudential instruments, the global financial crisis would not appear in line with the original forecast. I invite you to the discussion.

On the other hand, different subjective opinions are formulated, attempts to forecast the development of domestic and international financial markets in the coming years and the potential emergence of another global financial crisis. Since the appearance of the previous global financial crisis in mid-September 2008, economists have formulated various theories about the determinants, scale and time of the emergence of another similar financial crisis in the future. I invite you to the discussion.

For example, there were theories that after 7 years of "lean" prosperity and economic growth will take 7 years of "fat" after which another crisis may occur. Functional theories suggest that another global financial crisis will appear soon, although it is not known exactly when. These theories are based on the thesis of not correcting the functioning of the overly liberalized, deregulated financial markets, i.e. the failure to remove the main sources diagnosed as the cause of the global financial crisis of 2008. Nor have the prudential procedures for credit risk management in investment banking been fully improved. I invite you to the discussion.

Through the Federal Reserve Bank's anti-crisis policy of buying junk assets from commercial banks, millions of reprinted dollars were pumped into the economy without economic coverage in the equivalent of produced economic goods. A significant part of these additional dollars indirectly conjunctural generated a quick return of prosperity on the securities markets, perhaps too fast because in a few years after the global financial crisis in 2008, the valuation of securities on the largest securities markets exceeded the level of autumn 2008 . I invite you to the discussion.

However, in the domestic economies there has been a clear improvement in the economic situation in, among others, production, income, investment, purchase of real estate, drop in unemployment, etc. The optimal quality of commercial banks' loan portfolios and the growing level of savings of people with a low share of financial surpluses in securities seem to suggest that the systemic credit risk in the economy has not yet reached its maximum levels. This subject is the subject of research, which I conduct in the area of ​​the necessity of continuing the process of credit risk management improvement, examined, measured and accepted by commercial banks. I have published several scientific articles on this topic.

In view of the above, the current question is: Are there verified and scientifically justified forecasts of the potential emergence of another global financial crisis?

Please, answer, comments. I invite you to the discussion.

Should the Federal Reserve Bank in the US be the main institution shaping and leading pro-growth active state interventionism?

In principle, YES, but it should be specified precisely the framework for a possible anti-crisis launch and implementation of the policy of active state intervention. The Federal Reserve Bank should continue to fulfill its current functions. In this respect, it is the most important institution in the US in terms of maintaining financial stability in the banking system and indirectly in the entire financial system. In addition, indirectly supports inter-branch, transactional, market, business and cross-border trade and capital flows. As the Federal Reserve advises on the issue of maintaining financial stability, it also translates into the entire US economy and also to a large extent on the entire global economy while the economy The US is recognized as a key global player. On the other hand, the Federal Reserve Bank, using its monetary policy instruments and the possibility of buying back lost commercial loans and junk securities, should focus on stabilizing the situation on the financial markets rather than on actively stimulating demand for securities, which may generate another global one in the long run. financial crisis. I examined this problem and described it in my scientific publications.

In view of the above, the current question is: Should the Federal Reserve Bank in the US be the main institution shaping and leading pro-growth active state interventionism?

Please, answer, comments. I invite you to the discussion.

The issues of globalization of financial and banking systems are described in the publications:

https://www.researchgate.net/publication/323244562_Adjustment_of_Polish_banks_to_international_standards_as_a_factor_of_globalization_of_the_national_financial_system

https://www.researchgate.net/publication/320061057_THE_IMPORTANCE_OF_ECONOMIC_GLOBALIZATION_IN_THE_CONTEXT_OF_THE_DEVELOPMENT_OF_THE_FINANCIAL_SYSTEM_IN_POLAND

https://www.researchgate.net/publication/327201145_Social_and_economic_determinants_of_the_processes_of_economic_globalization_that_shape_the_development_of_the_banking_system_in_Poland

https://www.researchgate.net/publication/320074691_ADMINISTRATIVE_LEGAL_AND_SUPERVISORY_DETERMINANTS_OF_GLOBALIZATION_OF_FINANCIAL_MARKETS_AND_THE_BANKING_SYSTEM_IN_POLAND

I invite you to discussion and cooperation. Greetings

Dear Friends and Colleagues of RG

The issues of risk management in the context of determinants of the global financial crisis, globalization processes, technological progress and other factors I described in the publications:

Article APPLICATION OF DATA BASE SYSTEMS BIG DATA AND BUSINESS INTEL...

Article GLOBALIZATIONAL AND NORMATIVE DETERMINANTS OF THE IMPROVEMEN...

Article Determinants of credit risk management in the context of the...

Article Importance and implementation of improvement process of prud...

Article The role and application of Keynesian macroeconomic anti-cri...

Article THE SHADOW BANKING AS AN EXAMPLE OF INEFFICIENCIES IN THE FU...

I invite you to discussion and cooperation.

Best wishes

Dear Friends and Colleagues of RG

The issue of the impact of monetary policy on the stability of financial systems in the context of the global financial crisis is described in the publication:

Article ACTIVATING INTERVENTIONIST MONETARY POLICY OF THE EUROPEAN C...

Article A safe monetary central banking policy as a significant inst...

Article Anti-crisis state intervention and created in media images o...

Article Soft monetary central banking policy and Plan for Responsibl...

I invite you to discussion and cooperation.

Greetings

Globalization has really revolutionized the day to day life of an ordinary citizen also.It has really very far reaching influence on the nation as a whole.In India,the process of LPG(Liberalization, Privatization and Globalization) was started in 1991,believe me,since then, the total scenario has been changed.Increase in competition has really resulted in survival of the fittest.On the negative side,it may be remarked that various cultural issues may be there,apart from the loss to the local companies/business enterprises.

Dear Friends and Colleagues of RG

The issues of globalization of financial and banking systems are described in the publications:

Article CURRENT AND HISTORICAL DETERMINANTS OF GLOBALIZATION PROCESSES

Article Globalization and the process of the system and normative ad...

Article THE DEVELOPMENT OF THE BANKING SYSTEM IN POLAND DETERMINED B...

Article Adjustment of Polish banks to international standards as a f...

Article THE IMPORTANCE OF ECONOMIC GLOBALIZATION IN THE CONTEXT OF T...

Article Social and economic determinants of the processes of economi...

Article ADMINISTRATIVE, LEGAL AND SUPERVISORY DETERMINANTS OF GLOBAL...

Article The Processes of consolidation and concentration of capital ...

I invite you to discussion and cooperation.

Best wishes

Planet is driven by 'Diversities' namely:

1. Biodiversity

2. Cultural diversity

3. Religious diversity

4. Linguistic diversity

5. Gender diversity (M/F)

'Equality' is an achievable goals with respect to equal opportunities to all under 'Freedoms' and proportional human bonding may be created by globalisation.

The most important positive effect is knowledge spillover. Also, good economic relations are to a certain extent predictors of good political relations. So we can assume that globalization can contribute to global peace.

the true success can be garnered by the output per capita or GDP per capita. In countries such as Switzerland and Singapore this figure is much higher than the rest of the world in that they have leveraged and honed a very successful niche of industries that caters to the abilities of its citizens. Therefore there is very little need for social welfare to counter issues such as employment, poverty, inequality. In other words people actually enjoy contributing towards the success of the economy because it is what "they" as a nation are very good at (ie they have a niche that is directly correlated to their populous). These countries are also less susceptible to the ebbs and flows of global fiscal and monetary constraints as exemplified by events such as the GFC. If there is a crises there is sufficient reserves in the govt coffers to ride out the storm on a macro/mirco level until some level of market risk equilibrium is restored. You will find these economies much more "economically" and "socially" resilient to these events. They also focus on a niche that is monopolistic in terms of its offering to the market. This may take the form of advanced technology and research in the pharmaceutical or robotic sector or a hub as an intermediary to other markets for key necessities such as crude oil. Larger economies tend to struggle with this model as they are more exposed to higher debt levels and are much slower on the uptake of speed to market due to their burdensome bureaucracies. Globalization intends to cut through the red tape (particularly for the larger more developed economies to enable them to utilize those channeled agreements quickly and efficiently so that their boat floats !

Dear Friends and Colleagues of RG,

The issues of globalization of financial and banking systems are described in the publications:

Article CURRENT AND HISTORICAL DETERMINANTS OF GLOBALIZATION PROCESSES

Article Globalization and the process of the system and normative ad...

Article THE DEVELOPMENT OF THE BANKING SYSTEM IN POLAND DETERMINED B...

Article Adjustment of Polish banks to international standards as a f...

Article THE IMPORTANCE OF ECONOMIC GLOBALIZATION IN THE CONTEXT OF T...

Article Social and economic determinants of the processes of economi...

Article ADMINISTRATIVE, LEGAL AND SUPERVISORY DETERMINANTS OF GLOBAL...

Article The Processes of consolidation and concentration of capital ...

I invite you to discussion and cooperation.

Best wishes

The potential good of globalization is the effect of competition being brought to bear on every activity in every nation. World-wide efficiency and effectiveness will make goods and services cheaper for all once everyone begins to participate in the world-wide trading network.

The downside is that once world-wide standards and imposed, new and radical ideas will be stifled as there will be no corner of the world left that is un-inspected and un-regulated --- a place that can escape the rules and regulations imposed from some central authority that will invariably slow innovation and stifle invention.

Biggest advantage: Global mobility of people.

Biggest Disadvantage: Local Manufacturing Sector unable to compete with giant MNCs.

After witnessing the deep state coup occurring in the US, I now believe that the globalization efforts have led to covert missions that undermine official work, and ultimately result in division, abandonment of the rule of law, and decreased civilian responsibility. Currently, the state department and the intelligence agencies view a president as a rotating door, and they have clearly undermined democracy so they, in their own world, can exert control. This was witnessed yesterday when it was exposed during the impeachment hoax hearings, which themself are simply insubordinate efforts by disenfranchised ineffective politicians trying to hang on to their cushy salaries, payouts as contracted intelligence workers, and access to tax payer dollars for personal gain, as shown with the Biden $85000/mo payout, the Chelea Clinton $50k/mo first job as journalist with no experience, and many other corrupt crony deals arranged by a deep state focused on using "globalization" as an ends to justify the means. Raising the global standard of living is happening, but when it occurs due to lawlessness, it will quickly fall into the hands of the corrupt. That is what we have witnessed, and it is because of that criminality that the current president was elected. Globalization requires responsibility on behalf of the people who are in positions of power... the current global power structure is built on a deep state corruption of power.