What are the effects of globalisation on today s world
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Globalization has grown due to advances in transportation and communication technology. With the increased global interactions comes the growth of international trade, ideas, and culture. Globalization is primarily an economic process of interaction and integration that's associated with social and cultural aspects.
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Globalization has both advantages and disadvantages in the world.
Advantages:-
1. Development in the country.
2. Job opportunities.
3.Increases the purchasing power of the people of the country.
4. Level of living increases.
Disadvantages:-
1. Local industries get vanished.
2. MNC’s domination leads to purchase of the local industries and the local industries act as raw producers for the MNC’s
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