What are the negative impacts of globalization
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- #WHAT ARE THE NEGATIVE IMPACTS OF GLOBALIZATION UPGRADE#
- #WHAT ARE THE NEGATIVE IMPACTS OF GLOBALIZATION CODE#
- #WHAT ARE THE NEGATIVE IMPACTS OF GLOBALIZATION FREE#
#WHAT ARE THE NEGATIVE IMPACTS OF GLOBALIZATION FREE#
Through the free exchange of ideas, information, and innovation, today’s technology becomes obsolete tomorrow. Obsolete Technology: Globalization makes the existing technology obsolete overnight. Negative Effects of globalization on industries:ġ. It is also happening as a gift of globalization.
#WHAT ARE THE NEGATIVE IMPACTS OF GLOBALIZATION CODE#
Because in the construction industry, there is some standard code of conduct which are being adopted by Bangladeshi construction firms. Conducive environment: Government regulations relating to the construction industry is being favorable, unfair practices in all sections are being checked. As a result more capital is utilized in the construction sector.ĩ.
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Increase Investment: Globalization puts the construction industry in motion. Equipment and machinery that high-rise buildings are convenient for overpopulated and commercial areas.Ĩ. It is because, the government has learned from other countries’ construction activates through exchanging engineers, technicians. Knowledge creation: The government now becomes liberal to give permission to develop multi-storied buildings. Therefore, people are becoming interested to live in a modern residence and enjoy new products. Though electronic media, people are watching and gathering knowledge about a better living environment. Standard of living: The standard of living is increasing for urbanization. On the other hand, the necessary agricultural materials needed are also begin developed. Agricultural development: Globalization is affecting the industries directly. Such as ship breaking mills, re-rolling mills, electrical and plumbing industry, etc.ĥ. Development related industry: As the number of developers is increasing, related industries also increase. In this way, they are considering the demand for different people.Ĥ. Bangladeshi managers have to consider their choices and standards. For example, American or European, African people come to Bangladesh for business, political, social, or traveling purposes.
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Demand: Globalization has increased the demand for land development, construction of multi-storied/high-rise residential and commercial buildings, etc. Through the transfer of information, people come to know about unknown design and facilities. As a result, people’s choice changes and they want to have a more fashionable office, residence, or any other product. Aesthetics: For different purposes when people travel from one county to another, they gather experience about culture, choice, fashion, and aesthetics.
#WHAT ARE THE NEGATIVE IMPACTS OF GLOBALIZATION UPGRADE#
So, immediately they collect them and upgrade the industry.Ģ. For example, through the internet, developers come to know details about modern machinery and equipment. Globalization helps to accident efficiency. More smart and latest technology ensures more efficiency. Technology plays an important role to have done this. Transfer of technology: Industrialists always seek improved technology to work efficiently and effectively. It suggests the panacea to ameliorate or eliminate the negative effect of globalization and to domain the positive side of globalization as a vehicle for economic development of Nigeria and other Third World countries.Positive Effects of globalization on industries:ġ. The concluding part of this paper focused on the strategies to be adapted to free Nigeria from the clutches of economic relegation. Apart from the above the inherent cultural and social values, constitute major barriers to desired corresponding result in earnings. Inflation, unemployment, armed banditry and other vices continue to be on the increase, thereby inhibiting foreign trade investment. The Nigerian situation has generally been a calamity as the various macroeconomic indices applied by the government has not been able to positively turn around the economy in this globalizing world. Corruption due to bad government has become the order of the day as workers strive to survive with meager income that cannot cover consumption, let alone savings and investments. Income per capita has been on the downward trend with no meaningful result from policy changes. The agricultural sector is drastically affected. Poverty, accompanied with its consummate terminal deceases has been rife. There is lack of infrastructure in every sector of the economy. The unequal effect of globalization has preponderantly distorted third world economic development.
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Globalization has become a whirl wind blowing across the world due to acceleration in information and communication technology thereby fostering more interactions as it shrinks the geographical boundaries of all countries into a global village. This paper examines globalization and its effects on third World Economic development with emphasis on Nigerian economy.