“I am a citizen, not of Athens or Greece, but of the world” -Socrates.

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People have been trading goods for almost as long as they’ve been around. From the ancient Silk Roads to the current Globalization 4.0, our world has experienced one wave after another wave of globalization, which has brought enormous benefits as well as daunting challenges.

What is globalization? The term globalization has only become commonplace in the last three decades. It is referred to “the process by which ideas, goods and services spread throughout the world. In business, the term is often used in an economic context to describe an integrated economy marked by free trade, the free flow of capital and corporate use of foreign labor markets to maximize returns and benefit the common good” (“Globalization,” n.d.) 

Right now, we are at a crucial moment as many of the world’s people are turning their backs on it. In the Western countries particularly, many middle-class workers disagree with the political and economic system that resulted in economic inequality, social instability, and – in some countries – mass immigration, despite of economic growth and cheaper products. Protectionism, trade wars and immigration stops are once again the order of the day in many countries.

Reference:

Globalization. (n.d.) Tech Target. https://searchcio.techtarget.com/definition/globalization (Links to an external site.)

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Your Task: Please provide some examples of the pros and cons of globalization. Given the current international affairs, should we reverse globalization or move forward? Why and how?

You need to include at least one reference in APA style for each paragraph. Please refer to DB grading rubric for more information.

Please post your initial thread by Wednesday and respond to at least one person by Sunday. To maximize the grade, you need to respond more than once.