Question

What are some consequences of globalization?

Answer 1

Well, global economic growth and industrial productivity are both the driving force and the major consequences of globalization. They also have big environmental consequences as they contribute to the depletion of natural resources, deforestation and the destruction of ecosystems and loss of biodiversity.

Answer 2

Globalization sure does come with a lot of consequences. Some of them are:

(1) Globalization restricts the growth of local industries (especially in the case of textiles & automobiles) as the imported goods are cheaper than the local goods.

(2) It causes poor work conditions for the workers as they have to work for longer periods of time with less wages.

(3) Globalization also affects the economy & the countries that export goods earn more or have MNCs in other places than countries that import goods.

Hope it helps ⚜