What is one major disadvantage of globalization

There are a few

Unequal economic growth. Rich countries get richer, leaving the poor ones

Lack of local businesses. Small local businesses have to compete with global chains

Increases potential global recessions. When one economy struggles, the other economies relying on it also struggle

Exploits cheaper labor markets. Cheaper labor is used by huge corporations

Causes job displacement. Globalization doesn’t result in an increased number of jobs; rather, it redistributes jobs by moving production from high-cost countries to lower-cost ones. This means that high-cost countries often lose jobs due to globalization, as production goes overseas.

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