Disadvantages of globalization
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I have to answer the question below in 250 words. I have been reading the chapter and don't fully understand this question:
What are the disadvantages of globalization in terms of environmental degradation, exploitation of labor, misallocation of resources, and effect on the balance of trade?
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The solution explains the disadvantages of globalization.
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Everything mentioned are disadvantages of globalization.
Environmental degradation - This is one of the biggest disadvantages of globalization. As globalization has improved income across countries, there has been a rapid rise in demand for goods and services. This has led to higher production of raw materials and finished goods and the consequent effects on environment. We are already emitting a lot more carbon dioxide and the effect is felt in terms of global warming. The temperatures are rising ...
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