Question

what is the disadvantages of globalisation???

Answer 1

The following are some of these disadvantages:

(i) Globalisation paves the way for redistribution of economic power at the world level leading to domination by economically powerful nations over the poor nations.

(ii) Globalisation usually results greater increase in imports than increase in exports leading to growing trade deficit and balance of payments problem.

Answer 2

Disadvantages:

·Environmental degradation: Developed countries can take advantage of underdeveloped countries’ weak regulatory laws in terms of environmental protection.

· Unfair working conditions: Many multinationals have been accused of social injustice by exploiting labor in underdeveloped countries in order to cut costs. Labor are provided unhealthy working conditions leading to health hazards. Many large companies have also been accused of using child labor in their factories in underdeveloped countries. Nike’s much publicized use of child labor along with poor working conditions and low wages in its factories in Indonesia is a well-documented example.

· Fall in employment growth rate: Though the promotion of the idea that the advances in technology and increase in productivity would create more jobs has been a cornerstone of globalization, it has been seen that in the past few years, such advances have led to a decrease in the employment growth rate in some developing economies. This can also be attributed to the fact that companies move their production facilities from one place to another in search of cheaper labor once the workers in the previous country start demanding better wages.

· Growing disparity among the rich and the poor: 86% of the world’s resources are said to be consumed by the richest 20% of the world population. This means that the poorer 80% only gets to consume 14% of the world’s resources. This is a direct result of globalization according to some activists who believe that globalization only serves the rich whereas the poor have to face its disadvantages.

· Small scale industries face extinction: Small scale industries which are indigenous to a particular place face extinction as they do not have the resources or the power that the multinational companies have. As a result, these small industries are unable to compete with bigger companies and go out of business. An example is the bamboo furniture making industry in India. The manufacturers work out of their homes and work hard to make furniture out of bamboo. These workers cannot compete with large companies selling cheap plastic furniture and as a result, their industry faces extinction.

· Rapid spread of deadly diseases: Deadly diseases such as AIDS or other communicable diseases can spread at very fast pace via travelers or due to other means as a direct consequence of globalization.

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