write down the atvantagesand disadvantageso of globalisation.
Answers
ADVANTAGES AND DISADVANTAGES OF GLOBALIZATION:
Free flow of goods and services between countries due to the reduction in trade barriers.
Creation of an environment for flow of capital and investment among countries.
Free flow of technology from one country to another.
Free movement of labor among countries.
DISADVANTAGES
Environmental degradation
Unfair working conditions
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