Globalization refers to the interaction among people, businesses, and governments of different countries of the world. The interaction may be verbal, transactional, or cultural. Globalization has many advantages and disadvantages, which are discussed in the table 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.
Free trade of resources among nations.
It may lead to benefit those who are already rich than those who are not.
It may generate more employment opportunities at the national and global level.
It may result in bad environmental impacts in the underdeveloped or developing countries.
To know more about what are the advantages and disadvantages of globalization, read the information given below.
Globalization: Advantages and Disadvantages
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 exploitation of resources from the very same countries.
Globalization has both advantages and disadvantages. Some advantages include free trade among countries, and more employment opportunities Disadvantages include the exploitation of resources.
Globalization is the phenomenon of nations interacting with each other and sharing resources, ideas, and culture. Today, countries maintain economic and socio-cultural relations with each other because of globalization.