What is globalisation and what are the advantages and disadvantages of globalisation
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Globalization refers to the interaction of one economy with all the other economies of the world. ... The term Globalization, in its newest form, has four major parameters: Free flow of goods and services between countries due to the reduction in trade barriers.
advantages
increase in employment opportunities
education
increase in free trade
faster flow of information
increase in quality of goods and services
decrease in prices of goods and services
reduction in cultural barriers
disadvantages
Environmental degradation
Unfair working conditions
Fall in employment growth rate
Growing disparity among the rich and the poor
Small scale industries face extinction
Rapid spread of deadly diseases
advantages
increase in employment opportunities
education
increase in free trade
faster flow of information
increase in quality of goods and services
decrease in prices of goods and services
reduction in cultural barriers
disadvantages
Environmental degradation
Unfair working conditions
Fall in employment growth rate
Growing disparity among the rich and the poor
Small scale industries face extinction
Rapid spread of deadly diseases
Answered by
2
Explanation:
Globalisation. ... Neo-colonialism emerged in the form of advocacy of freetrade and free-market economy (globalisation). The rich nation formed G-7 in 1975 to further their economic interests. Thereby they secured access in the underdeveloped and the developing countries.
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