write a short note on consequences of globalisation
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Globalisation is multidimensional concept it has political, economic and cultural manifestations :-
Political consequences :
1- Globalisation has affected the traditional concept of state sovereignty.
2- It forces the government to change the laws and constitution in according the private sector .
Cultural consequences :-
1- The cultural effect of globalisation leads to fear that it poses a threat to rich cultures in the world,as it leads to uniform culture .
Economic consequences :
1- Economic globalisation draws the role of international institutions like IMF and the WTO .
2- It involved great economic flows among different countries of the world.
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