What are the advantages and disadvantages of globalization?

Globalization has increased the standard of living for billions of people and has helped to create enormous wealth in many different parts of the globe. However, many people have not shared in this wealth and some critics believe that globalization has exploited workers in less developed countries and destroyed or damaged the unique cultures that exist in different parts of the world. In recent years, governments and businesses have become more aware of the benefits of globalization to businesses and shareholders, while critics have been more willing to protest or demonstrate at international gatherings of global economic leaders.