Question

Positive and negative aspects of globalization

Answer 1

Indian economy had experienced major policy changes in early 1990s. The new economic reform, popularly known as, Liberalization, Privatization and Globalization (LPG model) aimed at making the Indian economy as fastest growing economy and globally competitive.

Answer 2

Positive aspects:-

1) Dues to increased globalisation in developed countries to benefit from it.

2) globalisation also boosts the ongoing competition between countries all over the world as well as within any particular country.

Negative aspects:-

1) the most common drawback of globalisation is that it is widensing the gap between the rich and poor,where rich people are becoming richer and poor aa poorer