What are the disadvantages of globalization?

Globalization gas some disadvantages also:

•Unrestricted globalization can hamper the development of less developed countries.
•Smaller firms may lack the resources to compete internationally and therefore may be forced out of business.
•Countries become increasingly dependent on other countries for meeting their needs for goods and services. This can become a major disadvantage in situations like war.
•Adverse economic condition in one country can escalate to other countries and may even adopt global proportion.
•Globalization may also lead to faster spread of infectious disease, for people animals and plants. Such infection may be carried through, people or goods.

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Disadvantages of Globalization:
-Developed countries can stifle development of undeveloped and under-developed countries.
-Economic depression in one country can trigger adverse reaction across the globe.
-It can increase spread of communicable diseases.
-Companies face much greater competition. This can put smaller companies, at a disadvantage as they do not have resources to compete at global scale.
-Globalization is direct attack on local tiny and small industry.
-Global companies with hi-fi infrastructure almost ruins the local traditional small and medium industries
-Increases cut throat competition.
-Globalization increases monopoly by countries equiped with know-how and power.



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Disadvantages of Globalization

Globalization, of course, has both disadvantages and advantages. For many average workers in developed countries, the disadvantages seem to loom very large. There can be no doubt that migration of manufacturing to low wage countries and the direct outsourcing of service jobs is a factor in stagnating and even declining wages in the West.


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-Cheap imports from developing nations could lead to unemployment in developed countries where the cost of production is high.
-Choosing to specialise in certain products may lead to unemployment in other sectors which are not prioritised.
-Increased competition for infant industry.
-‘Dumping’ of goods by certain countries at below cost price may harm industries in order countries.


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