Economic Globalization Example : Positive Effect : Negative Effect :
Answer (1)
Economic Globalization Positive Effect: Economic globalization has led to increased market access, facilitating trade and business expansion across borders. For example, multinational companies can tap into new markets, driving economic growth, creating employment opportunities, and fostering innovation through the exchange of knowledge and technology. Negative Effect: On the flip side, economic globalization has also been associated with income inequality, exploitation of labor in developing countries, and environmental degradation due to increased production and consumption. For instance, the race to cut costs can lead to poor working conditions, displacement of local industries, and unsustainable resource exploitation, posing challenges for social equity and environmental sustainability.
