Specific aspects of international economic integration and globalization

Disadvantages:

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  Increasing unemployment rate. Economic integration stimulates the demand for high skilled work with cheaper price. But countries where political and economic institutions are weak are not able to produce high-skilled workers. As a consequence, the unemployment rate in those countries will increase.
  
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  Trade imbalance. As a result of globalization and economic integration, any country can trade with any part of the world. Because developing countries are much more dependent on developed countries in terms of imported goods but their export abilities are lower than import, trade imbalance can occur.
  
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  Environmental effect. The world has become much more industrialized as a result of globalization. Even though it stimulates the economic growth it also harms natural environment.
  

In our modern world, every country is strongly dependent on other countries in many areas of life. That’s why globalization and international economic integration exist in a natural way. The countries which participate in economic integration can get batter off while the countries which closed their borders can get worse off. There are many benefits of globalization and economic integration. But its negatives are not something to ignore. The disadvantages should be taken into account as well.

No country can grow economically without the relations with others. The gains of globalization and international economic integration outweigh the losses from it.