Why is globalization important?

Examples of globalization
Multinational corporations are a tangible example of globalization. Some examples include the following:

• 
  McDonald's had 39,198 fast-food restaurants in 119 countries and territories, according to its Securities and Exchange Commission filing at the end of 2020. It employed more than 2.2 million people at that time, the filing said.
  
• 
  Ford Motor Company reported in 2021 that it works with about 1,200 tier 1 suppliers around the globe.
  
• 
  Amazon's recent expansion has it using tens of thousands of suppliers and employing more than nearly 1.3 million full- and part-time employees.
  

Through their influence on social and economic development in the countries that host them, multinational corporations embody the contradictions of globalization. They bring jobs, skills and wealth to the region they are investing or doing business in. But they also can destroy local businesses, exploit cheap labor and threaten indigenous cultures. The benefits they offer are often unsustainable because the loyalty of multinationals is to their investors and bottom lines and not to the local people, economies and cultures where they are doing business.
Another example of globalization is the response to the COVID-19 pandemic. Because the world was able to communicate across boundaries, nations were able to work together to quickly produce vaccines for the virus. In addition, doctors traveled where they were needed. For example, Cuba sent doctors to Italy at the beginning of the pandemic to assist with the crisis as it developed there.
However, countries also enacted strict travel restrictions and many closed their borders to cut down on the free movement of people and spread of the virus.
Benefits of globalization
Globalization enables countries to access less expensive natural resources and lower cost labor. As a result, they can produce lower cost goods that can be sold globally. Proponents of globalization argue that it improves the state of the world in many ways, such as the following:

•