IntroductionThis assignment briefly explains what impacts does globalisation had on Srilanka. It will also state what the advantages and disadvantages of globalisation are. What is Globalisation?Globalisation is a process of integrating economies, industries,markets, cultures, and policy making throughout the world.(http://lexicon.ft.
com/Term?term=globalisation) It is a system by which businesses or different types of organisations expand international influence or start managing on an international scale, where they are able to ? Increase international trades? Have greater dependence on global economy ? Globalisation allows a company to operate over more than one country Advantages of globalisation Globalisation involves in links between countries which allows free movement where people can travel and labour forces can move which is very important in the global economy, it also enhances the borders between nations which raises awareness on racial acts, religious discriminations and traditional differences. Globalisation has many benefits towards people who are unemployed for exampleThe increase on number of companies around the globe creates employment opportunities which is a great benefit for those who are unemployed as it will bring more income into the families which will support them with many of their everyday needs. The price of commodities is another advantage of globalisation. It has become relatively cheaper because of the fierce competition between different traders in the market. Consumers have a wide range of products to choose from which also benefits traders which a different range of customers who are willing to buy the products Disadvantages of globalisation Multinational companies in the global market have recently been accused of not providing needed working facilities to workers from over the globe even though there countries have a link over globalisation also they have caused many environmental damages and as well as mismanagement towards natural resources. Globalisation has had a massive impact on spreading deadly diseases such as hiv/aids over many countries over the globe There are more advantages in favour towards developed countries than developing countries as they are highly likely to have a better economical status and are more eligible to having power over traders and types of organisations receiving more resources than developing countries and having a larger base or international influence and being able to get across the opinion on changes being made for better living qualities decreasing the chances of developing countries to not develop. Impact of globalisation in Sri Lanka There more distributions caused by introducing globalisation in srilanka as an example “Colombo telegraph ” have published a news report stating negativity when the first open economy was introduced in sri lanka. The politicians of srilanka failed in time of 1983 as they were not able to change their economical status and they were not able to gain priority Within the organisation.
The process of globalisation was not appropriately approached by politicians at they were reluctant to relax restrictions to attract international capital for the provincial government which led to srilanka economical status to drop by time as the other countries started developing. On the other hand it has very good impact on education on srilanka as students are able to travel to study worldwide to foreign countries which is also a good impact on career and job opportunities in the future.