Describe the demerits of globalization.

Disadvantages of Globalization:--

The globalization that just keeps doing well to us is not true. It impacts us in multidimensional way. So it has some disadvantages also. These ares-

1. Growing Inequality
2. Increasing of the Unemployment rate
3. Trade Imbalance
4. Environmental Loots

1. Growing Inequality

Globalization can increase inequality throughout the world by increasing specialization and trade. Although specialization and trade boost the per-capita income it may cause relative poverty.

To illustrate this we will take an example. All dominated MNCs in the world are located in the United States. All these companies are buying cheaper labor from developing or underdeveloped countries for their product manufacturing or assembling. China, India and Africa are prime examples of this. It increases the employment of such countries but they are lagging behind relatively developed countries.

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