Globalization has several negative consequences according to the document. It increases resource usage and carbon emissions, makes environmental regulation more difficult, and diminishes the importance of nation states. It also widens inequality between rich and poor nations and within countries. The socio-cultural impacts include a loss of languages, commercialization of culture, and weakening of traditional communities and families. To counter these effects, the document suggests strengthening local markets, allying with local businesses, and reviving traditional cultural expressions.

1. SWATI NAGPAL

2. The Globalization Conundrum

3. Ill-Wills of Globalization

4.  Globalization uses up finite resources more quickly.
 Globalization increases world carbon dioxide emissions.
 Globalization makes it virtually impossible for environmental
regulators in one country to foresee the worldwide implications of
their actions.

5.  Diminishing Importance of Nation States.
 Gradual Movement to “World Government”.

6.  Acts to increase world oil prices.
 Transfers jobs from developed countries to less developed
countries.
 Transfers investment spending from developed countries to
less developed countries.
 Huge US balance of trade deficits.
 Move taxation away from corporations to individual citizens.
 Sets up a currency “race to the bottom” .

7. The Socio-Cultural Dynamics

8. Layers of Culture
• National level
• Regional level
• Gender level
• Generation level
• Social class level
• Corporate level
Elements of Culture
•Religion
•Language
•Values
•Type of Norms
•Arts and Literature

9.  A widening gap between rich and poor (both individuals and
nations).
• Globalization and poverty alleviation.
• Globalization and within-country income inequality.
 The struggling domestic manufacturing sector and consequent
social unrest.
 Regional instability and rapid geographical shifts.
 Ever-increasing prison population.
 Dissolution of Families and Communities.
Commercialization of Culture.
The Impact

10.  An increase in regional wars and international terrorism.
 The loss of many of the world's languages.
 The instability of highly complex and interlinked socio-economic
systems.
 Weakening of Democracies.
 Sharp increase in numbers of environmental/economic refugees.
 The “Civilisational Quotient”.
 Consumerism
 Western Ideals
Language

11. A Regressive Approach

12.  Rise of Not-So-Global Identities.
 Extreme income disparity.
 Domination of TNCs and the illusion of choice.
 Globalization of Diseases and Terrorism.
 Strengthened social evils like Discrimination and Child Labor.
 Gender and ethnic Inequalities.

13. The Way Ahead

14.  Allying with other local businesses.
 Government intervention.
Restoration of local markets.
 Reviving traditional and popular forms of people’s expression.
Imbibing sensitivity and values.