Question
Explain any two economic consequences of globalization.
✓
Answer
- Positive Economic Consequences:
- It involves greater economic flows among various countries.
- It has enhanced trade in commodities among countries,
- The restrictions on the imports and movement of capital have also been reduced.
- Negative Economic Consequences:
- It has created diverse opinion all over the world so as to benefit only a small section of society.
- It does not have equality at par the movement of people across the globe i.e. Developed countries have carefully guarded their borders with visa policies to ensure job security to their own citizens.
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