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Questions
What are the negative aspects of globalisation?
Answer the following question in 80 to 100 words:
Explain the negative aspects of globalization.
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Solution
The negative aspects of globalisation are:
- Globalization promotes technological adaption to increase productivity but has also resulted in the loss of jobs.
- Local/small-scale industries cannot withstand competition from the MNCs and may be bought off or shut down.
- Less developed countries may become dependent on technologically superior countries.
- It has caused specialization of labour and so there are few employment opportunities for unskilled labour.
- It has led to an increased gap between rich and poor nations.
- It may lead to overexploitation of resources and negatively impact the environment.
- It leads to the harmful effects of consumerism.
- It may lead to a reduction in social welfare schemes in both developed and developing countries.
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