Question

In what way is globalization a disadvantage for developed nations?

Answer 1

In the past few decades, there has been much talk of a globalized economy, as nations of the world engage in trade talks and increase the interdependence of their economies. But for all the growth and commercial activity, there have been some drawbacks to globalization, as not everyone has benefited.

Answer 2

oligarchy (ŏl´əgärkē) [Gr.,=rule by the few], rule by a few members of a community or group. When referring to governments, the classical definition of oligarchy, as given for example byAristotle, is of government by a few, usually the rich, for their own advantage.