The far-reaching consequences of globalization can sometimes be very obscure. Just like preeminent technological developments, globalization contributes to civilization as a whole but also inconveniences others. In terms of global trade, helps in reducing the isolation of poor countries by increasing specialization, it expands access to information through trade, increases the pace of operations in the commercial, technological and financial sectors. According to Oyekola (2018), “With globalization, more jobs can be created” (p. 86). These can be termed the positive effects of globalization.
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Be that as it may, “economic activities carried out by humans such as agriculture, construction, fossil fuel burning, solid waste generation, and mining are causing harm not only to human life but also to the environment” (Rashid, 2021), and can be termed as negative effects of globalization in different countries. The extraction of non-renewable and renewable natural resources leads to the degradation of the environment, destruction of habitats through deforestation and mining, increase in the gap between the rich and poor countries.
Oyekola, I. A. (2018). Culture and globalization. In O. A. Ogunbameru, A. L. Adisa & D. S. Adekeye (Eds.), Cross-Cultural Management: A multi-disciplinary approach (pp. 81-102). Obafemi Awolowo University Press.
Rashid, M. (2021). A brief perspective on globalization.