Consequences of globalisation refer to the combined positive and negative effects resulting from increased economic and cultural integration across the world.

Positive consequences:

• Consumers have access to a wider variety of goods and services at lower, more competitive prices.
• Economic growth is encouraged through expanding trade and international investment.
• Technology transfer helps developing countries improve their productivity and living standards.
• Countries can specialise in producing what they are best at, which improves global economic efficiency.

Negative consequences:

• Deindustrialisation may occur in developed countries as factories move to cheaper locations, leading to job losses.
• Growing inequality often happens both within societies and between wealthy and poor nations.
• Environmental degradation can increase as industrial production expands worldwide.
• Cultural homogenisation occurs when global companies replace unique local traditions and businesses.
• Increased vulnerability makes countries more sensitive to economic problems happening in other parts of the world.
• Brain drain happens when highly skilled workers leave developing countries to seek better opportunities in wealthier nations.