OPEN CLASS | GLOBAL ECONOMY-BENEFITS AND CONSTRAINTS

Globalization is a realization that has transformed the world in recent decades. Based mainly on economic integration and the comparative advantages of world trade, in addition to multiculturalism between peoples, globalization continues to produce multiple debates about its positive and negative effects. Some scholars claim that globalization transfers benefits, such as increased international trade in goods and access to and dissemination of knowledge of new technologies. Others assert that what is global generates economic, social and cultural inequalities. Global integration allows for the opening of markets, therefore, an increase in international trade and the free movement of capital, which drives economic growth and a reduction in production costs. Does it benefit developed countries and large multinational companies, to the detriment of small local companies? Another argument against globalization is the negative environmental impact that the exploitation of natural resources, the depletion of ecosystems and environmental pollution can cause. Furthermore, globalization also contributes to the emission of greenhouse gases. This Open Class serves to debate the essential arguments for and against the global economy. We will see how universal integration has influenced economic development, examining the benefits and constraints it presents. Furthermore, the social consequences of globalization will be presented and discussed, raising questions about the preservation of cultural identity and the enjoyment of economic development models. Finally, we will reflect on the future perspectives of globalization and possible paths towards a more balanced and justifiable integration.