What does not relate to the effects of globalization on the world?

The correct answer is Option (1) → Globalization has led to the shrinking of our choices to a large extent.

This is incorrect because one of the most prominent effects of globalization, especially in the economic and cultural spheres, is the expansion of choices for consumers.

• Greater trade among countries → True, globalization promotes specialization and comparative advantage.

• Developed countries’ visa policies → True, globalization has opened markets but many developed nations still restrict labor mobility with strict visa regimes.

• Reduced restrictions on capital movement → True, globalization has facilitated freer flow of capital across borders.