Question

Explain the negative aspects of Globalization, with examples.

Answer 1

The negative aspects of globalization are:

1. Exploitation of developing countries for example India, Brazil etc.

2. Adverse effects on local economies and the environment like exploitation of non-renewable resources.

3. Power to Multinational companies- Due to globalization the market is hugely dominated by the MNCs who have the adequate 'know how'.

4. Cultural Homogenization of the economies.