Globalization is a broad term that can be defined through many different terms in different directions. Most people around the world are oblivious of globalization taking place, so they have nothing to believe in. The majority group of people believe that globalization is destroying the economy of the world and bringing the ends of the world closer and closer, while others believe that globalization is fixing problems throughout the world and is a sign of a hopeful future. The rest of the people who do not know what to think of globalization, fall in between the affirmatives and negatives.
The majority that believes globalization is dire might mention how globalization causes millions of people to lose jobs. People lose their jobs due to imports or production shifts abroad. This entails the unemployed workers to find jobs that end up paying less. Millions of other workers then become feared of losing their jobs, especially those who are employed by companies that offer competitive positions. Although many that are left still employed will lose their comparative advantage because of the factories being built in other countries with exceptionally low wages. This makes those employed citizens just as productive as the unemployed citizens at home. Basically those with high paying jobs who work at large companies will be benefiting while the lower class with low paying jobs will be put out of business. Those with service and white-collar jobs are especially vulnerable to being exported off-shore. In turn this all becomes a circle of destruction in the economic world. Those with service and white-collar jobs are especially vulnerable to being exported off-shore. Some say globalization has created a "mercantile-system" in which cheap, raw materials are given to the "mother countries" such as the US in return for expensive manufactured goods, such as weapons or other technology, which might help improve the third world countries. Because of the demand for the...
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