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Advantage and disadvantage of globlisation |
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Answer» Advantages of Globalisation(i) Globalisation has resulted in greater competition among producers-both local and foreign. This has improved the quality of products and lowered the prices.(ii) A wider variety of goods are available in the market for consumers.Disadvantages of Globalisation(i) For a large number of small producers, globalisation has posed major problems. These producers were not able to free the competition from large foreign producers and hence several of such production units had to shut down, rendering workers jobless.(ii) Workers in MNCs are employed on* temporary basis . and laid off without any compensation during the slack period. 1) Globalization fuels inequality. ............ Globalization makes the rich richer and the poor poorer. ... .........2) Globalization leads to reduced public revenues. ... ...... 3) Globalization destroys the environment. .......4) Globalization creates a race to the bottom. ........ 5) Globalization leaves us vulnerable to infectious diseases...... |
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