Question

Criticalky explain the impact of globalisation 0

Answer 1

Answer:

Globalization is about the interconnectedness of people and businesses across the world that eventually leads to global cultural, political and economic integration. It is the ability to move and communicate easily with others all over the world in order to conduct business internationally.

Positive Impact

1. A better economy – it introduces rapid development of the capital market
2. The new technologies and progress in telecommunication, introduction of satellites, mobiles etc are all results of globalization.
3. The new scientific research patterns are all results of globalization.
4. Living standards are risen.
5. Globalization introduces better trade. This is because more people are employed. This increases productivity.
6. Culturally speaking, globalization has brought in different ideologies, and thought process amongst people.

Negative Impact

1. Along with positive impact, there is negative too. Globalization brings fear as well. Because of too much flow of capital amongst countries, it introduces unfair and immoral distribution of income.
2. Another fear is loosing national integrity. Because of too much exchange of trade, money etc independent domestic policies are lost.
3. Mental pressure on companies that causes many people to loose their jobs.