Globalization has tended to result in increased inequalities in income, wealth and power within many countries.

Question

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Globalization has led to the concentration of power and wealth in the hands of a few, leading to increased income and wealth inequalities within many countries. This is because companies move their operations to countries with lower labor costs, resulting in job losses in the home country and lower wages in the host country. Additionally, multinational corporations often have greater bargaining power than small businesses and individuals, exacerbating income and wealth inequalities.

Globalization Has Tended to Result in Increased Inequalities in Income