Specific aspects of international economic integration and globalization

There are some advantages and disadvantages of globalization and international economic integration.

Advantages:

• 
  Spreading new technologies and innovative ideas very quickly. With the help of globalization and economic integration the latest innovations and technologies can travel from one country to another very easily. It can be mainly seen between developed countries and developing countries.
  
• 
  Increasing living standards. Once any country participate in economic integration, the residents of this country can enjoy better goods and services, better infrastructure;
  
• 
  Being able to buy affordable products. As many competitors are going into the local markets of participating countries, local consumers can buy anything at lower prices. They will have more choices in the local market.
  
• 
  Market expansion. It gives producers an opportunity to sell their products in a broader and bigger market. They can open more new markets for themselves.