what are the advantages and disadvantages of globalization
Answers
Answer:
Advantages
1) Resources of different countries are used for producing goods and services they are able to do more efficiently.
2) Consumers get the product they want at more competitive prices.
3) Companies get access to much wider markets.
4) It promotes understanding and goodwill among different countries.
5) Businesses and investors get much wider opportunities for investment.
Disadvantages
1) Developed countries can stifle development of undeveloped and under-developed countries.
2) Economic depression in one country can trigger adverse reaction across the globe.
3) It can increase the spread of communicable diseases.
4) Companies face much greater competition. This can put smaller companies at a disadvantage as they do not have resources to compete at global scale.