Question

What are the negative aspects of globalisation?

Answer the following question in 80 to 100 words:

Explain the negative aspects of globalization.

Answer 1

The negative aspects of globalisation are:

1. Globalization promotes technological adaption to increase productivity but has also resulted in the loss of jobs.
2. Local/small-scale industries cannot withstand competition from the MNCs and may be bought off or shut down.
3. Less developed countries may become dependent on technologically superior countries.
4. It has caused specialization of labour and so there are few employment opportunities for unskilled labour.
5. It has led to an increased gap between rich and poor nations.
6. It may lead to overexploitation of resources and negatively impact the environment.
7. It leads to the harmful effects of consumerism.
8. It may lead to a reduction in social welfare schemes in both developed and developing countries.