Globalization affects the economic life in both positive and negative ways. Being a member of an international community causes a positive chain reaction. A country will easily undertake big projects for its prosperity. As a result, it will prosper and will have abundance in the long-term. Also, a country will be able to import new technologies from highly developed countries.
Globalization also causes negative situations in a country's economic life.
According to studies on different regions of the world, high inflation and its result, high prices, appear. Next high interest rates appear. Because of these factors, a country increases its importation and decreases its exportation. After all these events the devaluation of a country's currency occurs and small commercial companies and small enterprises are bankrupted. Other companies, which aren't bankrupted but are in difficult situations, have to dismiss workers because of the typical negative chain reaction of globalization effects.