what is advantages and disadvantages of globalization
Answers
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.
Advantages
Access to New Cultures.
The Spread of Technology and Innovation.
Lower Costs for Products.
Higher Standards of Living Across the Globe.
Access to New Markets.
Access to New Talent.
International Recruiting.
Managing Employee Immigration.
Disadvantages
Globalization fuels inequality. Globalization makes the rich richer and the poor poorer.
Globalization leads to reduced public revenues.
Globalization creates a race to the bottom.
Globalization leaves us vulnerable to infectious diseases.
Globalization destroys the environment.