Final answer:
Critics of globalization point to negative environmental impacts, exploitation of less developed countries, and increasing inequality due to job losses in developed countries as reasons for their opposition.
Step-by-step explanation:
Many opponents of globalization criticize it for having negative impacts on the environment and favoring wealthy nations at the expense of poorer ones. These critics argue that globalization leads to environmental degradation due to weak regulations and harmful industrial practices. Additionally, less developed countries (LDCs) often suffer as globalization can exacerbate existing vulnerabilities such as poor infrastructure and market volatility, making it harder for them to compete on a global scale. The unequal power dynamics and the influence of multinational corporations are also of significant concern, as they can exert control over local economies and governments. Furthermore, there is also a fear of loss of jobs in developed countries as companies move production to places with cheaper labor and weaker environmental laws, contributing to increased inequality.
As global industries take advantage of looser regulations in poorer countries, there is more industrial pollution and dumping of hazardous waste, posing serious threats to the environment and local communities. In response, governments may enact environmental protections, which increase the costs of industrial production and make it difficult for firms to compete in the international market.
Keywords: globalization, environmental protection costs, industrial pollution, hazardous waste, international market