Globalization: good or bad?

Researching about globalization has provided a number of advantages and disadvantages about it. From Buzzle, a number of pros and cons were given about globalization:

PROS:

• Living standards can go up faster because productivity increases when countries produce goods and services in which they have a comparative advantage.
• Inflation is not as likely to leave tracks/derail on economic growth because of cheap imports and global competition among companies.
• Economies from other countries flourish with ideas from abroad.
• There is a worldwide access to different products from other countries, therefore customers have better access to these products (e.g., Mcdonalds is a world wide corporation and customers from around the world have easier access to Mcdonalds).
• This point also shows that since there is a worldwide market, there are more investment options for other companies.
• The development of technology and communication has skyrocketed over the last centuries. Sharing this information with other countries allows them to stay in pace with other countries in terms of the development of technology (e.g., Skype, Viber, etc).

(A worldwide map showing countries with or without McDonald's)

CONS:

• Globalization may lead to the loss of cultural identity among many countries since Western cultures' ideas are usually imposed upon other ideas.
• There is a potential threat that corporates will eventually "rule the world" due to the amount of power they obtain from the amount of money gained from investments due to globalization.
• Great amount of pressure to workers in developing countries who are continuously under the threat that their job could be terminated.
• Some critics believe that globalization along with the positive affects may lead to social degeneration and communicable diseases. 
• There have also been arguments that globalization could lead to a more sophisticated form of colonization due to nation's at the receiver's end who give up their reins in the ends of a foreign company.