WORLD HISTORY

Detailed explanation-1: -Globalization also gives organizations the opportunity to take advantage of lower labor costs in developing countries, while leveraging the technical expertise and experience of more developed economies. With globalization, different parts of a product may be made in different regions of the world.

Detailed explanation-2: -Globalization can be seen as a new form of colonization or imperialism, as economic inequality and the rise in unemployment have followed with its implementation. Globalization has been criticized for benefiting those who are already large and in power at the cost of endangering the countries’ indigenous population.

Detailed explanation-3: -Manfred Steger, professor of Global Studies at the University of Hawaii at Manoa argues that globalization has four main dimensions: economic, political, cultural, ecological, with ideological aspects of each category.