The most important disadvantage of globalization is the increasing number of the loafer.
After the industrial revolution, industry gravitated some particular countries. Because of that, these countries became a power in industry. However production decreased and so unemployment was raised in the other countries. Another reason of the unemployment rise is that the need of less manpower. As stated at Wikipedia, many workers found themselves suddenly unemployed, as could no longer compete with machines which only required relatively limited work to produce more product than a single worker.
Another major damage of globalization is that some cultures are getting lost. The cultures of the countries that have more economic power are more dominant than others. Because, wealthy countries produce many things that can affect cultures, for example, clothes, movies and technologic products. According to Ikerd, while the global community is increasing, more and more people have became ignorant about social, ethical and moral values which are various in defining groups.Therefore, globalization damages small cultures which are in risk of being extinct.
Big disadvantages. The final significant effect of globalization is the difficulty of competition. With globalization, trade between the countries has been started to remove limits. This situation of enterprises has prepared the ground to be in constant competition with not only national competitors but also international competitors.
Therefore, business requires being in a more rigorous and challenging competitive atmosphere to maintain continuity and development.Rising of monopole companies and trough among production costs are the main effects of this hard competition in business. As pointed in Global Policy Forum, undeveloped countries choose to use foreign capital for their improvement however it disposes the equality and stability instead. In conclusion, unemployment, social degeneration and difficulty of competition are the killer disadvantages on people life that based on globalization.
In my opinion, people must be aware of this exploitation. Globalization is a one-way tale.
