Positive effects of globalization
- Greater employment opportunities for people.
- Availability of greater variety of goods and services to the consumers.
- More competitive price to the competitors.
- Ability of companies to achieve lower costs.
- Access to bigger markets to business firms.
- Faster and wider spread of new technologies across the world.
Negative effects of globalization
- Unrestricted globalization can hamper the development of less developed countries.
- Smaller firms may lack the resources to compete internationally and therefore may be
forced out of business.
- Countries become increasingly dependent on other countries for meeting their needs for
goods and services. This can become a major disadvantage in situations like war.
- Adverse economic condition in one country can escalate to other countries and may even
adopt global proportion.
- Globalization may also lead to faster spread of infectious disease, for people animals and
plants. Such infection may be carried through, people or goods.
Kavungya answered the question on May 18, 2019 at 08:43
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