Correct Option
The correct option is 2 and 3 only.
Explanation
Globalisation refers to the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. Critics often analyze it through the lens of economic inequality, cultural erosion, and the power dynamics between developed and developing nations.
Statement-wise Analysis
- Statement 1 is Incorrect. The criticism of globalisation is generally the opposite of this statement. It is frequently viewed by critics as a strategy employed by developed (rich) countries and multinational corporations to access the markets, resources, and cheap labour of developing (poor) countries. It is rarely described as a tool for poor countries to dominate rich markets.
- Statement 2 is Correct. Critics argue that globalisation reduces the capacity of governments to maintain social safety nets and welfare systems due to the pressure to lower taxes and regulations to attract investment. Additionally, it is accused of leading to cultural homogenization, which erodes the distinct cultural identities and traditions of people in developing nations.
- Statement 3 is Correct. A primary economic criticism of globalisation is that the benefits of growth are not evenly distributed. It is argued that globalisation has widened the wealth gap between the "Global North" and "Global South," as well as increased income inequality within individual nations, failing to ensure inclusive growth.
Key Takeaway
Key Takeaway: The critique of globalisation focuses on the dominance of developed nations over developing ones, the erosion of state welfare and cultural identity, and the exacerbation of economic disparities, rather than the empowerment of poor nations.