Economics
“The impact of globalisation has not been uniform.” Explain this statement.
Global & Ind Econ
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Answer
“The impact of globalisation has not been uniform.” It highlights the fact that globalisation affects different countries, regions, and social groups in diverse ways:
- Globalisation has led to economic growth in some countries while leaving others behind. Developed nations often benefit more than developing nations due to their advanced infrastructure, technology, and access to global markets.
- Within countries, globalisation can exacerbate income inequality. Skilled workers and capital owners may gain, while low-skilled workers face job displacement and wage stagnation.
- Globalisation drives resource extraction and consumption. Developing countries often bear the environmental costs (e.g., deforestation, pollution) to meet global demand.
- Increased trade and transportation contribute to climate change. Developed countries historically emit more greenhouse gases, affecting the entire planet.
- Globalisation shifts jobs from high-cost to low-cost regions. While it creates employment in export-oriented sectors, it can lead to job losses in others.
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