i) The benefits of globalization extend to all countries that will not happen automatically.
ii) The fear that globalization leads to instability in the developing world.
iii) The industrial world that increased global competition will lead in race to the bottom in wages, labour right and employment practice.
iv) It leads to global imbalance.
v) Globalization has resulted with the embarrassment
vi) Globalization has led to an increase in activities such as child labour and slavery.
vii) Consumption of more junk food that led to the degradation of health and spread of disease.
viii) Globalization has led to environmental degradation

i) The Final Act of the Uruguay Round was signed by the member nations of GATT in April 1994. It paved the way for setting up of the World Trade Organisation
ii) An agreement to this effect was signed by 104 countries. This WTO  Agreement came into force on January 1, 1995
iii) Its headquarters is in Geneva, Switzerland.
iv) Its purpose is Regulation and International Trade.
v) Its members are Director General, Four Deputy Director Generals and other 600 official staff
Objectives of WTO:
i) To set and enforce rules for international trade.
ii) To provide a forum for negotiating and monitoring further trade liberalization
iii) To resolve trade disputes.
iv) Introduction of sustainable development and environment can go together.
v) To ensure that developing countries secure a better share of growth in world trade
vi) To increase the transparency of decision making processes.
vii) To ensure full employment and broad increase in effective demand.

Evolution of MNC:
i) Like, the East India Company, which came to India as a trading company and then its net throughout the country to become politically dominant, these multinationals first start their activities in extractive industries or control raw materials in the host countries during 1920s and then slowly entered.
ii) In to the manufacturing and service sectors after 1950s. Most of the MNC's at present belong to the four major exporting countries viz., USA, UK, France, Germany. However, the largest is American. 11 of the 15 largest multinationals are Americans.
iii) Multi National Corporation (MNC) is a corporate organization which owns or controls production of goods or services in at least one country other than its home country.
Advantages of MNC:
i) Producing the same quality of goods at lower cost and without transaction cost
ii) MNC reduce prices and increase the purchasing power of consumers world wide.
iii) MNC is able to take advantage of tax variation.
iv) Spurring job growth in the local economies
Disadvantages of MNC:
i) MNCs are a way for the corporations to develop a monopoly for certain products.
ii) They are also a detrimental effect on the environment.
iii) The introduction of MNC may lead to the downfall of smaller, local business.
iv) MNC breach ethical standards, accusing them of evading ethical laws and leveraging their business agenda with capital.