Question

What are the disadvantages of Globalisation?

Answer 1

(i) Globalisation, privatization and liberalization may lead to unemployment.
(ii) The abolition of import tax has reduced national income.
(iii) The multi-national companies are using the natural resources of poor nations indiscriminately.
(iv) Due to uncontrolled competition local, small scale industries are suffering loss.
(v) Inequality between the rich and the poor nations in the world is created.
(vi) Degeneration of basic values.