Negative Impact Of Globalization

Discuss the Impact of Globalization
Globalization is a process of denoting speedy social changes, free market capitalism and liberalization, economic evolution, political, social, cultural and ideological.
Everyone lives in a world where the only ‘constant’ is change. Villages have become overgrown towns and overgrown towns have become overpopulates cities. Overpopulated cities have been transformed into oversized metropolis and the latter have become under-sized cosmopolitan hubs. These, in turn, have been transformed into what Marshall McLuhan has called a global village.
According to MalcolmWaters , ‘Globalization is a social process.’ Malcolm Waters is known for his globalization theorem. According to him, there are three types of human

Investors are interested in spreading their investing over a wide range of market to reduce their overall level of risk. An increased availability of capital makes it easier for organizations to finance their international marketing efforts.

Negative Impact of Globalization:
• Inequality With globalization, the rich get richer while the poor get poorer. Globalization has not been able to reduce poverty. Instead, It has led to the accumulation of wealth and power in the hands of a few developed economies. Therefore, the gap between the elite and the under-privileged seems to have widened.

• Culture
People from the same country follows its culture and traditions from remote ages. Norms and values are eroded with the number of people moving into and out of a country. People may adapt to the culture of the resident country. They tend to follow the foreign culture more, forgetting their own roots. This can give rise to cultural conflicts.

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Industries are using natural resources by means of mining, drilling etc which puts a burden on the environment. Natural resources are being depleted and are on the verge of becoming extinct. Deforestation is practiced owing to the non-availability of land. Coupled with production and consumption excesses, this creates an imbalance in the environment, thereby leading to climate change. This is certainly an immediate action to be plan to reverse the damage that is being done before it becomes irreversible.

• Non-Vegetarian Food
With Globalization, the access of non-vegetarian food, especially, fast-food with the rise in the number of fast-food outlet is having a great influence on the younger generation. The facilities for such outlet as McDonald and KFC easily draw the younger generation for such type of non-vegetarian food. But economically vegetarian food is known to be cheap and considered to be safer for consumption.

• Disparity
Though globalization has opened new avenues like wider markets and employment, there still exist a disparity in the development of the economies. Structural unemployment crops up as a result of this disparity. Developed countries are moving their factories to foreign countries where labor is cheaply available. The host country generates lesser revenues, and a major share of the profits fall into the hands of the foreign