Question

opponents of globalization say that it has negative consequences for jobs and wages, income inequality culture sovereignty and the environment? what are some positive outcomes of globalization for each of these topics?

Answer 1

Globalization or global integration has helped in exchange on not only goods and services but also cultures , traditions , languages etc . It has allowed people to consume goods which were not domestically produced . Globalization has helped in outsourcing , multi national set up of manufacturing units . This has resulted in creation of jobs in different countries . Also free trade enables better utilization of resources and gains from trade which raises standard of life of workers .

Migration is an important aspect of globalization . Exchange of technology , capital flow , human capital , inputs etc has caused income inequality among countries to decline . The greater export market has made it possible for job creation and gains from trade . Developing and less industrialized countries can benefit from this trading .

Cultural and traditional exchanges are more feasible when people migrate from one place to another and start residing in other countries for jobs and education . Globalization has also some positive effects on environment . Environmental friendly modes of production are exchanged and technology shared among countries . Sharing of cultures broadens our knowledge about different cultures and helps in inter mixing of cultures which reduces orthodox nature in many cases .