What are the Advantages and Disadvantages of Globalization?
By BYJU'S Exam Prep
Updated on: November 9th, 2023
The Key Advantages and Disadvantages of Globalization are Free trade of resources among nations and it may lead to benefit those who are already rich than those who are not respected. Globalization refers to the interaction between people, businesses, and governments of different countries of the world. Interaction can be verbal, transactional, or cultural.
Key Advantages and Disadvantages of Globalization
The advantages and disadvantages of globalization have been illustrated in the table given below:
| Advantages of Globalisation | Disadvantages of Globalization |
| Helps in the development of underdeveloped or developing countries. | It may lead to the exploitation of resources from underdeveloped or developing countries. |
| It may generate more employment opportunities at the national and global levels. | It may result in bad environmental impacts in underdeveloped or developing countries. |
| Access to various resources may result in the development of the manufacturing sector. | Unbalanced growth of the countries if the effects of globalization are not managed carefully. |
| Increased cooperation with other countries to improve the economy, defense, healthcare, education, etc. | Competition between countries can disadvantage organizations, individuals, etc. |
What is Globalization?
Today, globalization is a big phenomenon through which nations of the world maintain good relations with each other. Globalization may lead to several economical, social, and cultural benefits to countries that are still developing. That being said, it may also lead to the exploitation of resources from the very same countries.
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