Question

One argument in the debate surrounding globalization is about the inequality between developed and developing nations. Explain how reduced barriers to trade and investment might help reduce this inequality.

please write in APA style at least 550 to 600 words.

thank you

Answer 1

The world is as we know is rapidly becoming globalised and more and more trade barriers are dismantled to welcome new opportunities. Not only goods and services are being exchanged but labour and capital are also being exchanged and according to leading Economists all are benefitted from a free market.

Individual countries with their strength are able to produce particular items but with globalization a country does not require to make everything by its own , it can simply focus on what is its strength and can import other products from other countries. Suppose the developed countries which has skilled labours can focus on medicines while unskilled labours in developing countries can grow tea and by this both the country can be benefitted as the developed country can order tea and developing country can have the medicine. Reducing barriers to trade and Investment allows international companies to explore markets and give the country's people employement.This helps to boost GDP of the economy and overall development. They also provide job training, education to make the unskilled labours be skilled enough to work,so that inequality in wealty distribution could be less. Reduced barrier to trade mean less govt struggle to open a company , not heavy tax imposition etc so that a company can easily do business in the foreign company and can also contribute to the country as a whole.

Inequality means that rich becomes more richer and poor becomes more poorer ,so to avoid this money has to be taken from the rich and given to poor. Globalization helps in this process as developing countries can sell thier products globally and gain profit.Essentially as a whole it can be said if a country has low barriers to investment and trade , it can floursih .

This will help not so skilled labours to not be confined into a market space and explore. If foreign investment comes ,they too can have the opportunity to work for them and showcase their talents.