Question

what is advantages and disadvantages of globalization

Answer 1

Answer:

The following are some of the important advantages of globalisation for a developing country like India: (i) Globalisation helps to boost the long run average growth rate of the economy of the country through: (a) Improvement in the allocative efficiency of resources; (b) Increase in labour productivity.

Disadvantages of globalization include exploitation of developing countries, cultural homogenization, and adverse effects on local economies and the environment.

Answer 2

Answer:Advantages

1. Globalization allows us to pool all our resources together.
2. Globalization would also reduce labor exploitation issues.
3. Globalization reduces the prospects of tyranny.
4. Globalization improves communication access.
5. Globalization would remove tax havens for wealthy individuals and businesses.
6. Globalization would help the developing world progress faster.
7. Globalization would reduce currency manipulation problems.
8. Globalization encourages free trade.
9. Globalization could create more employment opportunities

Disadvantages

1. Globalization may encourage more offshoring instead of less.
2. Globalization benefits the wealthy more than the poor.
3. Globalization would encourage disease transfer.
4. Globalization could reduce social safety net programs.
5. Globalization would create a new system of politics.
6. Globalization would not prevent resource consumption.
7. Globalization would make it easier for people to cheat.
8. Globalization doesn’t fix a lack of skills.
9. Globalization would negatively impact the environment.
10. Globalization changes how humans would identify themselves.

Explanation: