As an irreversible historical development trend, economic globalization has greatly affected the economies of various countries and even the world economy in the second half of the 20th century. This paper expounds and analyzes the advantages and disadvantages of economic globalization. It not only brings us benefits, but also exposes us to risks. First of all, it provides new favorable conditions for the optimal allocation of resources on a global scale. Every country can give full play to its unique advantages in international economic exchanges and realize complementary advantages, thus promoting the economic growth of the whole world. Secondly, it makes the world market become an expanding and unified whole. In the face of fierce international market competition, countries must strive to improve production and business activities, improve labor productivity and realize large-scale production. All these will effectively expand the world's total output level. At the same time, it also has its shortcomings. Due to the obvious advantages of developed capitalist countries in economic development, the unbalanced development gap between North and South countries has further widened on a global scale. This fully exposed the negative impact of globalization on the world economy. Keywords: positive and negative effects of economic globalization Today's information revolution leads to the continuous expansion of globalization among continents in the form of networks. More and more countries participate in the competition and cooperation in the era of globalization and are interdependent. Their economic prosperity and national survival are increasingly dependent on this global network. And economic globalization is the foundation and core of the whole globalization process. The so-called economic globalization refers to the process in which the elements of economic development-goods, capital, information, technology and human resources freely flow and combine around the world, so as to achieve optimal allocation and establish and standardize the corresponding market economy operation mechanism around the world. I. Positive and Negative Effects of Economic Globalization In a sense, economic globalization is actually the global expansion of market economic rules and the globalization of market economy. The market mechanism has always had its two sides, interests and risks coexist, and opportunities and challenges coexist. On the one hand, economic globalization, characterized by the increasingly free flow and allocation of various economic resources across borders, has multiplied the benefits and opportunities of the market mechanism. If it is used well, economic development may take off rapidly; On the other hand, economic globalization has doubled the risks and challenges brought by the market mechanism, and the global competition for resources and markets has become more intense. From this perspective, economic globalization has advantages and disadvantages for all countries. Positive influence from economic globalization. First of all, it provides new favorable conditions for the optimal allocation of resources on a global scale. As an integral part of the global economy, every country can give full play to its unique advantages in international economic exchanges and realize complementary advantages, thus promoting the economic growth of the whole world. Economic globalization has brought about the great development of international division of labor, the great transfer of industries and the great flow of factors of production such as capital and technology, which is very beneficial for developing countries to make up the gap between domestic factors such as capital and technology, give full play to their advantages of backwardness, quickly realize industrial evolution, technological progress and institutional innovation, and promote economic development. In the process of economic globalization, investment and technology transfer promote each other and accelerate constantly. In order to prolong the life cycle of technology, expand the utility of technology and find a way out for their own technology, multinational companies have greatly accelerated technology transfer activities. This accelerated transfer is objectively beneficial to the technological development of developing countries, accelerating the upgrading of industrial structure and industrialization process in developing countries, and accelerating the transformation from traditional economy to modern economy. In addition, the accelerated development of economic globalization has also accelerated the process of attracting foreign investment in developed countries, which helps to make up for the lack of capital in developing countries. Furthermore, the development of economic globalization not only provides more opportunities for developing countries' products, especially labor-intensive products, to enter the world market, but also helps to make up for the shortcomings of developing countries' market development. In particular, the organizational form of multinational companies has increasingly broken through national boundaries and so-called borderless enterprises have emerged, which is very beneficial for developing countries to introduce advanced management experience from developed countries. Second, economic globalization will promote the liberalization of trade and investment. Trade and investment liberalization is the product of world economic globalization, and it is also a powerful driving force of globalization. It is the accelerated development of trade and investment liberalization that promotes the process of world economic globalization. Conversely, the development of world economic globalization requires the further improvement of trade and investment liberalization. The most important content and core of world trade liberalization is to reduce and eliminate tariff barriers and non-tariff barriers. After the formal operation of the World Trade Organization, non-goods trade, such as service trade, intellectual property rights and investment, has been included in multilateral rules for the first time, making it the core function of the World Trade Organization to expand the field of multilateral liberalization and expand the process of international trade liberalization. In addition, investment liberalization has become the mainstream of international investment development, and not only developed countries, but also more and more developing countries are actively adopting investment liberalization measures. On the one hand, a large amount of foreign investment was introduced, on the other hand, foreign investment was actively made, which led to the rapid increase of world direct investment, investment activities spread all over the world, and the normative framework and rules of global investment began to take shape. Third, economic globalization provides people all over the world with a good opportunity to choose good quality and cheap goods and quality services. With the development of market globalization, logistics will become the main form of international trade. People all over the world can choose the goods they need according to their hobbies and consumption needs. Trade barriers and defense lines set up in various ways will be gradually abolished. The situation of state monopoly or individual monopoly will never return, and the situation of charging consumers exorbitant prices in exchange for inferior services will end. Finally, economic globalization is conducive to reducing international conflicts. In the process of economic globalization, most countries in the world have participated in a deeper international division of labor system. The investment and technology transfer activities of multinational corporations have more closely linked the production, management, sales and R&D activities of various countries than ever before. As a direct result, the degree of interdependence and mutual penetration among countries has deepened, and changes in economic relations will inevitably lead to changes in the political field and international relations. Consultation and dialogue are increasingly becoming the main means to deal with international relations today. It has gradually become a development trend to strengthen trust and cooperation between countries, curb international conflicts or at least reduce the intensity of conflicts. There is reason to believe that this trend will be strengthened with the further development of economic globalization. Judging from its negative effects, there are four main points. First, because developed capitalist countries have obvious advantages in economic development, they also benefit more than developing countries in the process of economic globalization, which further widens the gap of uneven development between North and South countries on a global scale. On the one hand, international economic organizations, the World Trade Organization, the International Monetary Fund and the World Bank are all in the hands of developed countries, and all the principles, systems and orders formulated for the operation of the world economy are formulated by them. On the other hand, the economic, technological and management advantages of western developed countries are beyond the reach of developing countries. Therefore, developed countries with highly developed social productive forces have benefited the most from economic globalization, while developing countries with relatively backward economy and technology have benefited little or no in the near future or long term, and may even suffer great damage and impact, such as the loss or closure of many national enterprises. Although economic globalization can objectively lead to the increase of global material wealth, competition is the first rule in the process of marketization. While creating high efficiency, it will inevitably lead to the increasing concentration of wealth to a few countries or interest groups, leading to the widening gap between the rich and the poor. Second, economic globalization may increase the volatility of world economic development. For example,194 Mexican financial crisis,1February 1995 Bahrain Bank collapse,197 Southeast Asian financial crisis and so on. , have caused great fluctuations and losses to the development of the world economy. This fully exposed the negative impact of globalization on the world economy. Economic globalization has made the economies of all countries more closely linked with the world economy. The stability of domestic economies of all countries depends not only on domestic factors, but also on international factors to a greater extent. With the continuous expansion of international trade and service trade, the economic situation of other countries, especially major trading partners, such as inflation and financial crisis, will affect their own countries through the transmission mechanism of the international economy. If there are some similar hidden dangers in China's economic structure, these economic fluctuations will inevitably appear in China. Even if there is no problem with the domestic economy, the economy will fluctuate to a certain extent because of psychological factors. This is especially true for developing countries. Because economic globalization is the globalization of finance, trade and investment, developing countries are more vulnerable to external unfavorable factors because of their underdeveloped markets and fragile economic structures. Moreover, due to the incomplete legislation in developing countries, it is easy to speculate; Coupled with the lax enforcement of laws in developing countries, there is an opportunity for "international hot money". As a result, a large number of hot money from western countries have hit the financial markets of developing countries from time to time, and even triggered a financial crisis, causing war-like damage. Third, the current global economic operation rules are not reasonable, and most of them are beneficial to developed countries. The development of economic globalization objectively needs rules to regulate and restrain the behavior of participants, and the formulation of rules is powerful. The so-called rule is actually the definition of conflict of interest. In the process of economic globalization, because international economic organizations are manipulated by developed countries such as Europe and America, the rules of the game of economic globalization are mainly formulated by developed countries. Although some existing international economic rules take into account the interests of developing countries, such as the rules of the World Trade Organization, most of them are formulated by developed countries, and some rules are formulated in the absence of developing countries. Some industrial development rules are formulated before developing countries develop their industries, such as information technology industry agreements and labor standards. Once developing countries have developed these industries, they must abide by the rules in which they are not involved and pay the price. In addition, although developed countries strongly advocate economic globalization and trade liberalization, governments still implement various trade barrier measures to safeguard their own interests. In particular, non-tariff barriers such as green barriers and technical barriers deliberately set by developed countries are often difficult for developing countries to achieve. These measures objectively hinder the free flow of factors of production between countries, thus limiting the market-oriented mechanism to a great extent, and the opportunities and interests that developing countries deserve cannot be guaranteed. Therefore, the benefits brought by economic globalization to the world economy at present are based on the loss of economic and political interests of developing countries. Fourth, economic globalization will inevitably bring some impact to national culture. This makes the cultural characteristics of each nation rise and fall, highlighting the differences. This phenomenon is not conducive to the development of culture, nor does it conform to the cultural evolution principle of letting a hundred flowers blossom and a hundred schools of thought contend. There are various forms of culture, including commodity culture, system culture, value culture, language culture, science and technology culture, art culture and so on. With the acceleration of economic globalization, the obstacles that hinder the cross-border circulation of capital, technology and products have been removed one after another, followed by the influx of different cultures, values, lifestyles and beliefs. Some of them have formed a new quality world culture through mutual conflict and influence, while others will change their lifestyle, values and cultural characteristics. Economic globalization not only brings benefits to developed countries, but also brings new development opportunities to developing countries. "Misfortune is a blessing; Blessed, where is the disaster? " Developed or developing countries can make full use of the development opportunities brought by "economic globalization" as long as they are good at grasping opportunities.