Costs and Benefits of Globalization and Localization

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Self-destruction, traditional conservatism, prosperity, and poverty are all key words which describe the world in which we currently live in. The combination of these words and the fall of communism in 1989 may be the reason for new developments and the emergence of globalization and localization. Globalization and localization could possibly be the result of the growth in internationalism in marketing and production. Perhaps it is the combination of all of these and many other factors. No one factor could possibly encourage such developments as globalization and localization, developments which affect the world in its entirety. In order to understand the costs and benefits of both, it is important these terms be defined. Localization is the process of adapting or integrating a product tenaciously into a particular region’s language and culture of the primary markets in order to meet that region’s specific needs. In other words, it is keeping a product within a definite locality in order to meet the area’s needs. Globalization is quite the opposite of localization. Globalization is the process of creating a product through international effort or creating a product that consists of variations in order to meet the needs of people in various regions. Simply put, globalization is creating products for the world by excluding boundaries and differences. Both globalization and localization are recent developments which have come about in the past decade and whose effects influence people of all regions of the world. The effects of globalization and localization are both beneficial and costly and have various counter effects.

Society is greatly affected politically, economically, and culturally as a result of the development of globa...

... middle of paper ...

...rimary importance while the other is of secondary importance. It all balances out in the end. Localization may be beneficial in one are, but globalization may be more beneficial in another. This is also the wrong time to consider which of the two concepts is more beneficial. Both of these concepts are yet to be fully developed or well known. It is not until globalization and localization exist in their entirety that their true benefits and costs will become apparent.

http://www.info.gov.hk/info/local-cs.htm http://www.globalize.org/globview.html

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