The process of globalization of world economies has had the effect of reducing the gap between the rich and the poor.

Question

Quizplus · Accepted Answer

The process of globalization has actually widened the gap between the rich and the poor. While globalization has created a lot of wealth for some, it has also resulted in the loss of jobs and income inequality for many others. Additionally, multinational corporations often exploit cheap labor and resources in developing countries, further exacerbating income inequality.

The Process of Globalization of World Economies Has Had the Effect