Question

What is Globalization? What are its negative impacts on countries?

Answer 1

Globalization is the integration of the domestic economy with the world economy.

Its negative impacts are:

1. When there is too much flow of capital among the countries, it may lead to the unfair and immoral distribution of income.
2. There is the possibility of losing the independence of the domestic policies, thereby losing national Integrity.
3. Building up infrastructure facilities led to resource extraction. This increases negative ecological and social costs.
4. In order to earn foreign exchange, rapid increase in the exploitation of natural resources.
5. Much relaxation of environmental standards and regulation.