Question

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Globalization has fostered economic growth of nations but at the same time it has been a bane for the world economy.

Which of the following justify the above statement?

• A. In order to reduce labour costs, companies indulge in unethical practices such as exploiting workers.
• B. Due to globalization, the developed countries become wealthier at the cost of underdeveloped nations, creating an unequal distribution of wealth.
• C. Globalization drives all the domestic producers out of business.
• D. Globalization has increased pollution levels that has put pressure on the available resources.

Answer 1

Answer: (A), (B), (D)

Globalization has increased pollution levels that has put pressure on the available resources.

Global connectivity requires transportation of goods across borders. It releases greenhouse gases like carbon dioxide and nitrous oxide that lead to global warming. Air pollution has increased due to the increase in factories all around the world. Water pollution and garbage dumps have increased due to domestic and industrial wastes.

The economic growth of countries due to globalization is not equal. The developed countries often benefit more than developing countries. They flood the markets of less developed countries with cheaply-priced products driving small-scale producers out of the market.