Why people of of the world's underdeveloped and developing economies are against globalization, euphemestically called opening up of economy or liberlisation of economy? Once the market is thrown up for invasion by the technologically superior manufacturing houses of the Europe , US and the Asia (japan, south korea ), the local manufcturing industries have just one option, either enter into techinical tie ups with some foreign companies for upgradation of technology or just close down. The globalization of our econmy has seen the closure o a large number of small manufacturing units and the employees left out with out a livelihood. thefarmers already burdened with the high cost of farm imputs have to compete with agriculturl produce imported from countries where the entire agricultural operations are automated.. So far as the MNCs are concerned , they have eye of profit maximization alone. Though they have social obligations to discharge, none cares for it.