Negatives Of Globalization

805 Words4 Pages
As we all know, that the sole purpose of globalization is to fashion a synergy among all nations to alleviate poverty and created a balance of equality through controlling political powers combine with richer economies affiliation. Consequently, by using innovative tools and modern science, whether natural or artificial, are causing a shift from benefits to unlimited adverse consequences in developing countries. Therefore, as the negative outweighs the positive, globalization is not observed as the means to an end for emerging economies but seen it as a destruction of the economy, humanity, and the ecosystem as a whole. For example, When multilateral donors, such as IMF and the World Bank are highly dictatorial, and their terms and conditions are over 50% as well as huge administration cost and high-interest rates, the boring country are unable to repay the loans, hence pleading to cancel all debts. Furthermore, when wealthy international financial institutes provide loans to developing countries, it is always under stipulated conditions that force a state government to cut on its spending in the major areas of health and education, which is actually, infringing on the rights of the people. They also demand that the country purchases goods that they export from them and most time imposed a tariff on these same commodities that are imported making it more expensive for the average person. The farmer’s organic foods are unable to compete with the excessive international
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