Q. Consider the following statements:

1. Globalisation has increased possibility of large industries of developing countries to become important players in the international arena.
2. Globalisation has also widened the economic disparities among nations and people.

Which of the above is / are correct?
Answer: Both 1 and 2
Notes: Both statements are correct. One is about the positive benefits of globalisation while the second statement is about adverse impact of globalisation on developing countries. The critics argue that globalisation is a strategy of the developed countries to expand their markets in other countries. According to them, it has compromised the welfare and identity of people belonging to poor countries. It has further been pointed out that market-driven globalisation has widened the economic disparities among nations and people.