Describe the demerits of globalization.

Globalization, while offering numerous benefits, also presents several demerits that impact both the economy and society. 

Economic Disparities: One major drawback of globalization is the exacerbation of economic inequalities. As businesses and industries globalize, wealth tends to concentrate in the hands of a few multinational corporations and their shareholders. This can lead to increased income inequality within and between countries. For instance, developed nations or wealthy individuals may benefit disproportionately from global markets, while smaller or developing economies struggle to compete, widening ___ _________ __________ _______ ______ _______ ______ ____ _____ ________ ________ ____.
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