discuss positive and negative effect on globalization

The spread of technology, products, goods and services across borders is known as globalization. It has both positive as well as negative effects.

Positive effects

• It gives rise to jobs in developing countries.
• It brings new industries in market.
• It has reduced knowledge gap between countries by increasing the access to universities.
• Consumers get a wide variety of goods to choose from.

Negative effects

• It is believed and has been observed that globalization operates in the interest of richest countries mainly and the poor countries are neglected. Moreover, rich countries start dominating the world trade.
• Globalization has increased global demand which has led to an increase in environmental degradation levels.