Main consequences of globalization:
Main consequences of globalization are as follows :
1. Flow of goods, capital, people, knowledge, information, arms, crime, fashion, beliefs etc has become very fast. From one country to the other, they reach fastly.
2. Globalization has begun a global system with a global culture. Globalization has influenced every part of life.
3. Globalization encourages mass movement and migration as a process, the most impact of which is seen on the elderly people.
4. Globalization has given birth to the refuge problem in Europe and other states.
5. Many critics believe that globalization is meant only for the interests of corporate sector and entrepreneurs. It has nothing to do for the poor. Free and market oriented economy of globalization has not fulfilled world’s expectations.
The institutions influenced by globalization, ignoring the interests of poor countries, workers and the natural environment, have fulfilled the intersects of corporate world only.
