(B) Globalization is a double edged knife. It encourages multinational compa nies on one hand and discourages and establishes the local production and markets on the other hand. But without globalisation, we cannot progress in trade and commerce internationally. Express your views.
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Globalization
Explanation:
- Globalization has the way of its advantages and disadvantages in society and the economy.
- On the positive side, globalization is for the interaction and growing independence between the nation and people worldwide. Globalization guides towards a global cultural, economic and political alliance.
- Increasing trade and communication between nations is considered to be one of the examples of globalization.
- Globalization had also created competition in society in every possible way. It has changed the economic condition which created job insecurity in the world.
- Globalization provided cheap labour and low wages in the market because of the high availability of working people who are willing to work on low wages.
Learn More:
What Is Globalization? Effect of Globalization?
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