Which among the following are a correct representation of arguments made by an advocate of economic globalization?
A. Globalization generates greater economic growth and well-being for larger sections of the population when there is deregulation.
B. Greater trade among countries allows each economy to do what it does best.
C. Economic globalization is inevitable.
D. Globalization creates cross-cultural inequalities and imposes hegemonic culture on the Global North.
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → A, B and C only
A. Globalization generates greater economic growth and well-being for larger sections of the population when there is deregulation. Correct.
B. Greater trade among countries allows each economy to do what it does best. Correct.
C. Economic globalization is inevitable. Correct. They add that it is not wise to resist the march of history.
D. Globalization creates cross-cultural inequalities and imposes hegemonic culture on the Global North. Incorrect. This is a criticism, not an argument of the advocates, and it turns the fear around: critics say globalisation imposes Western culture on the rest of the world.
NCERT (2025-26): “Economic Consequences … Advocates of economic globalisation argue that it generates greater economic growth and well-being for larger sections of the population when there is de-regulation. Greater trade among countries allows each economy to do what it does best. This would benefit the whole world. They also argue that economic globalisation is inevitable and it is not wise to resist the march of history.…” |