Which of the following is a potential cost of globalisation for a developing country?

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Question

Which of the following is a potential cost of globalisation for a developing country?

Accepted Answer

Loss of jobs in domestic industries unable to compete with imports — Award 1 mark for identifying that domestic industries may be unable to compete with cheaper or higher-quality imports, leading to structural unemployment. A is incorrect — FDI is generally considered a benefit. B is incorrect — market access is a benefit. D is incorrect — technology transfer is a benefit of globalisation.

Answer

Greater access to international markets

Answer

Loss of jobs in domestic industries unable to compete with imports

Answer

Transfer of technology from multinational companies

Answer

Increased foreign direct investment

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