Economic Theory: Positive Globalization Essay

Exclusively available on IvyPanda Available only on IvyPanda
Updated: Jan 1st, 2024

Introduction

Globalization is one of the most discussed terms nowadays. It is the concept which touches upon different spheres of life, and it is analyzed by the representatives of various fields of study. Globalization influences not only the modern world as a whole but also the way of life of the individual persons. However, the results of this influence can be either positive or negative.

We will write a custom essay on your topic a custom Essay on Economic Theory: Positive Globalization
808 writers online

The aim of this essay is to give an example of the positive influence of globalization on the life of a person.

Positive Impact of Globalization

Globalization refers to the process of increasing interconnections between continents and the gradual blurring of borders between countries. As a result of globalization, people from different parts of the world can communicate with each other easier. Besides, globalization uncovered new opportunities for business abroad. Finally, we can enjoy the broader range of products available in the market.

The story told by my friend represents a positive influence of globalization. She told me about her neighbor, who lost a job and was in a hard economic situation for almost a year. The things got worse when he had known about the acute disease which required immediate treatment.

The doctor prescribed him some medicines, and the majority of them were expensive enough. However, in the discussion with a doctor, my friend’s neighbor explained that he had not got enough money to pay for all medicines. The doctor said that all of them were vital for effective treatment, but several could be replaced with substitutes.

She explained that the substitutes to the medicines prescribed represented the analogous medicines with the same composition, but they were produced in the developing country by the affiliate firm of the large German pharmaceutical corporation. With the purpose of reduction of the cost of sales, the corporation located some of its production facilities in several Asian countries.

However, the medicines were still produced under the strict quality control of German specialists. The reduction in the cost of sales contributed to the decrease in the retail price of the medicines which were exported to many countries. In the United States, these medicines could also be found at the retail outlets of the several drug stores networks.

1 hour!
The minimum time our certified writers need to deliver a 100% original paper

Following the doctor’s advice, my friend’s neighbor bought all the medicines prescribed, including the substitutes which she mentioned. Thanks to the availability of cheaper medicines, he had enough money to pay for them. The immediate treatment allowed coping with the acute symptoms of the disease.

Any delay in the treatment might be fatal for the patient. Thanks to the substitutes, my friend’s neighbor began feeling himself better and better. Now he has almost fought the disease and goes to the hospital only once a three month for medical supervision. Also, his economic situation improved as he found a new job.

Conclusion

To sum up, all the above mentioned, it should be said that globalization can make a positive influence on our life. The story told by my friend represents a real-life example of the globalization contribution to the successful medical treatment of her neighbor. To my mind, the increase in the availability of the cheaper product substitutes is not the only positive aspect of globalization, and if we take a look at others spheres of our life, we can find the improvements resulting from globalization as well.

Print
Need an custom research paper on Economic Theory: Positive Globalization written from scratch by a professional specifically for you?
808 writers online
Cite This paper
Select a referencing style:

Reference

IvyPanda. (2024, January 1). Economic Theory: Positive Globalization. https://ivypanda.com/essays/economic-theory-positive-globalization/

Work Cited

"Economic Theory: Positive Globalization." IvyPanda, 1 Jan. 2024, ivypanda.com/essays/economic-theory-positive-globalization/.

References

IvyPanda. (2024) 'Economic Theory: Positive Globalization'. 1 January.

References

IvyPanda. 2024. "Economic Theory: Positive Globalization." January 1, 2024. https://ivypanda.com/essays/economic-theory-positive-globalization/.

1. IvyPanda. "Economic Theory: Positive Globalization." January 1, 2024. https://ivypanda.com/essays/economic-theory-positive-globalization/.


Bibliography


IvyPanda. "Economic Theory: Positive Globalization." January 1, 2024. https://ivypanda.com/essays/economic-theory-positive-globalization/.

Powered by CiteTotal, online bibliography generator
If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda. Request the removal
More related papers
Cite
Print
1 / 1