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Globalism

In: Business and Management

Submitted By Myrhna
Words 820
Pages 4
Pro Globalist V/S Anti Globalist

People around the globe are more connected to each other than ever before. Information and money flow more quickly than ever. Goods and services produced in one part of the world are increasingly available in all parts of the world. International travel is more frequent and international communication is commonplace.

Globalization is a fact of economic life and it has now become a very controversial topic and the growing number of various economic and social issues all around the world has focused more attention on the basic assumption of globalization and its effect.
Globalization may be defined as the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture. It describes the interplay across cultures of macro-social forces. These forces include religion, politics, and economics.

Globalization is believed to leave the poor behind. Without capital, you cannot gain from integration. And the poor have next to no capital. Trade reforms do create both winners and losers and it might not always be politically feasible for the former to compensate the latter. If the losers from trade turn out to be the poor, then trade reduces social welfare, where all the weight is put on the welfare of the poorest.

Exactly the opposite would be the case if trade reduces poverty and unemployment and makes low-skilled workers better off. Importantly, adverse distributional consequences of trade reforms may erode the political support for its sustainability.
Globalization promotes global economic growth, creates jobs, makes companies more competitive, and lowers prices for consumers. It also provides poor countries, through infusions of foreign capital and technology, with the chance to develop economically and by spreading prosperity creates the conditions in which

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