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In order to cut down costs, many firms in developed nations have outsourced their manufacturing and white-collar jobs to Third-World countries like India and China, where the cost of labor is low.
The most prominent among these have been jobs in the customer service field as many developing nations have a large English-speaking population - ready to work at one-fifth of what someone in developed world may call 'low-pay'.
In countries with little or no accountability, corporations employing children can work smoothly by bribing the officials, which may result in an increase in illegal activities.
Critics opine that globalization has resulted in a fiercely-competitive global market, and unethical practices in business is a by-product of this.
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Environmental degradation is an issue which has been debated ferociously in various international meetings, and it has to be accepted that globalization is one of the most important factors that has aggravated the situation.
The amount of raw materials needed to run industries and factories is taking a toll on the natural reserves of planet earth, and pollution has severely impacted the quality of air that we need so very much for our survival.
The phenomenon that is globalization, has brought new dimensions to this world, and people are mingling with each other like never before.
The social, economic, and political changes that globalization has brought have been accompanied by some challenges.