THE HIDDEN FACE OF GLOBALIZATION FREE

We agree to a large extent to the statement, вЂњThe benefits of globalization outweigh its cost.вЂќ Even though there are some disadvantages in the process of globalization, but the benefits that the world receive far outweighs the costs of it. вЂњBenefitsвЂќ is defined as вЂњadvantage or profitвЂќ and вЂњcostвЂќ is defined as the вЂњeffort or loss necessary to achieve somethingвЂќ by the Oxford dictionary of Current English.

All definitions appear to agree that globalization has economic, political, cultural, and technological aspects that may be closely intertwinedвЂќ by the International Monetary Fund.

THE HIDDEN FACE OF GLOBALIZATION FREE

Thus, now you know the negative effects of globalization.The term вЂњglobalizationвЂќ is defined as вЂњgrowing economic interdependence of countries worldwide through increasing volume and variety of cross-border transactions in goods and services, free international capital flows, and more rapid and widespread diffusion of technology. The country with efficient economic management will less negative aspects and more of a positive aspect. Thus, globalization has both positive and negative aspects. This can adversely affect national sovereignty. Effect on National SovereigntyДЄpplication of globalization makes All the Nations are business market. Thus, there are wider chances of increasing inequalities and differences among different nations. On one hand, globalization stresses on single economy and market but on the other hand, It may increase inequalities and regionalism. The mechanization of industries increases the chances of unemployment.Д«ut to cope up with this, special stress has two chances of unemployment but to cope up with this special stress to be laid down on rural development and development in the field of services. This can also affect the balanced economic development of the country. There will be a deviation from plan priorities without considering the problems of the general public. Related: 22 Advantages and Disadvantages of Privatization (Economics). This will make these goods expensive in the country. Globalization presents an open market for the domestic goods produced in a country.ДЄs a result of domestic goods like vegetables, fruits, cereals, etc. This slowly gives rise to the establishment monopoly of foreign institutions in the country. This results in the ownership of foreign Institutions over local resources. Globalization increases direct foreign investment in the country. Related: Top 10 Characteristics of Good and Ideal Project Planning. Globalization has given birth to large Institutions which results in spontaneous arousal of monopoly. Globalization has increased the tendency of the takeover of small Institutions by large Institutions or they have to merge in large Institutions for holding themselves. If a few countries exports Limited than imports become expensive. Related: 18 Nature and Characteristics of Entrepreneurship. This restricts their importance in the international field. Globalization has Limited the work of domestic Institutions.

This will limit the personal independence of small and Cottage entrepreneurs. These have to be coordinated with large industries.

Globalization hinders the development of small and cottage industries that have to be coordinated with large Industries. Hindrance in Establishment of Small and Cottage Industries Related: 28 Positive Effects of Globalization (With Examples). Negative effects of globalization, the new and underdeveloped countries have to face problems. In every country, some of the industries are assisted by the government but due to this policy, all the assistance is provided by the government is removed.

This proves the negative effects of globalization on the business environment. Globalization gives birth to the cut-throat competition which results in the early closure of many Institutions. The negative effects of globalization can be studied as follows: 1. negative effects of globalization Negative Effects of Globalization Globalization leads to contraction or shortening of the world market. With respect to developing countries, globalization policy has both positive and negative aspects.

The hidden face of globalization