Question

how would globalization,liberalization,privatization affect our daily life.

Answer 1

Effects of Globalisation: Developed countries can stifle development of undeveloped and under-developed countries. Economic depression in one country can trigger adverse reaction across the globe. ... This can put smaller companies, at a disadvantage as they do not have resources to compete at global scale.

Answer 2

Explanation:

LPG stands for Liberalization, Privatization, and Globalization. India under its New Economic Policy approached International Banks for development of the country. These agencies asked Indian Government to open its restrictions on trade done by the private sector and between India and other countries.