From an economic standpoint

From an economic standpoint, globalization is typically defined as the increase in the global trade of goods, services, capital, and technology. This growth in trade has been especially acute between developed countries like Indonesia or United States and emerging markets, like China.
The good side of globalization is the comparative advantage that is the ability of one country to produce goods or services at a lower opportunity cost than other countries.
However, globalization also have some bad sides which is often criticized for taking away jobs from domestic companies and workers or the increase in wage for workers, which can hurt the profitability of some companies.