Benefits And Advantages And Drawbacks Of Globalization

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Benefits and Drawbacks of Globalization While taking a sip of coffee sitting on your table did you ever realize from where this coffee and table on which you sit on come from, and how it’s possible to in your home? The answer is Globalization, globalization means connect world and people for the betterment of humanity and environment by sharing technology and resource. Globalization benefits world in economic, cultural and consumer benefits. One of the benefits of globalization is decreasing in the unemployment rate which leads to a better economic condition of the country. As the foreign company can easily do investment in the local manufacturer or start their franchise or sub-manufacturing plan in another country they need workforce for it, they have to depend on host country as they may get cheaper manpower and this benefits for the foreign company, labor and country. As country have no more depend on import. In addition to that now host country can export surplus of that products to another country which leads to boost in country 's economy. For instance India now focusing on Make in India, to do so they increased export duty on home appliances and mobile phones, and that leads to high in consumer product prices to counter this now companies start to make those products in India, Apple already started its manufacturing plant in India keeping mind that India has the second largest smartphone user so for. Also five years ago India all way depend for its defense arms on

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