Globalization Negative Effects

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ABSTRACT: Globalization helped accentuate the major environmental damages we’re experiencing today, even though it’s only indirectly responsible. But while vital, political regulations and incentives are still lacking compared to the breadth and urgency of the challenges ahead, some solutions can also be found in the mechanisms of globalization itself. INTRODUCTION The term globalization that was used infrequently before the 1990’s, is now in common parlance i.e. a term of common interest. It basically refers to an economic system for the free flow of raw materials, manufactured goods, intellectual property and financial transactions, as equally as possible, across international borders under the supervision of an assigned international trade authority. Globalization gives raise to strengthening international relationships and also plays a major role in increasing economic standards of the society. It promotes unity among nations. But as we all know where there is a positive there is a most likely chance of being a negative side effect that people tend to ignore for the purpose of achieving a greater good.…show more content…
No one doubts that some very significant global processes economic, social, cultural, political and environmental are underway and that they affect everyone and everything. Yet, there is no agreement on exactly how to define this thing we call “globalization,” nor on exactly which parts of it are good or bad, and for whom. For the most part, a polarized view of globalization, its potential and its pitfalls has taken hold of the public imagination. It has often been projected either as a panacea for all the ills of the world or as their primary cause. The discussion on the links between environment and globalization has been similarly stuck in a quagmire of many unjustified expectations and fears about the connections between these two
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