Question

Express your opinion in 25 to 30 words on the following:

Positive and negative aspects of globalisation.

Answer 1

Positive Aspects:

1. It creates more employment opportunities.
2. It supports free trade.
3. It gives consumers a better choice of goods and services.
4. It leads to greater investment in developing countries.
5. It improves the efficiency of the tertiary industry, specifically banking and finance.
6. It increases the purchasing power of citizens and enhances their standard of living.
7. It increases worker productivity and reduces the capital-output ratio.
8. It helps to increase efficiency in the production system.

Negative Aspects:

1. Globalisation encourages technological adaptability in order to boost productivity. However, it is capital-demanding and has led to the loss of jobs.
2. Local or small-scale industries are unable to compete with multinational corporations and may be purchased or closed down.
3. Less developed countries may become reliant on technologically better ones.
4. As a result of labor specialization, there are few job options for unskilled workers.
5. It has widened the divide between wealthy and poor countries.
6. It may result in resource overexploitation and have a negative influence on the ecosystem.
7. It causes the negative impacts of consumerism, such as overspending.
8. It could reduce social welfare programs in both wealthy and underdeveloped countries.