The
disadvantages of globalization are as follows:
1) Benefit
of globalization is for few industrialists, common man faces inflation.
2) Globalization,
Liberalization and Privatization may lead to unemployment.
3) Abolition
of import tax has reduced national income.
4) Multinational
companies are using natural resources of poor nations indiscriminately.
5) Due
to uncontrolled competition, local small scale industries are suffering a loss.
6) Inequality,
such as rich nation and poor nation is created in the world.
7) Degeneration
of basic values is increasing.
