At first, the effect of globalization influences a country's internal and external policies. Generally globalization affects external policies in positive ways. For instance, the government of a country improves solutions for global problems, puts more money in international programs and tries to be more pacifistic in its international policies. But then globalization can affect internal policies in negative ways. For example, a country's government can be less interested in its citizens than it was before.
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.