Globalization Is Only a Good Thing If It Benefits All Groups of Society - 0 views
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dedingo on 13 Dec 14Salman Sakir's article is relevant to the issues raised in Friedman's book The World is Flat in which Friedman in a sense laments over the impact of globalization upon the developed countries, the USA for him, because the developing countries like Brazil and Asian countries like China and India have a massive work labour influence upon the West. Sakir focuses on both the positive and negative aspects of globalization, one of the five forces in Gratton's The Shift and a form of global economy as discussed by Stanford in his Economics for Everyone. Because of low wage and easy availability of experts/labour in the developing countries, foreign investments have been attracted by those Asian and developing countries where the jobs have been created for the locals. On the other hand, the citizens of the developed counters of the West and the North America have consumed the products from the developing countries in a reasonably lower price. Poverty ratio has been decreased in the developing countries which have also been integrated by the phenomenon of globalization. These are positive impacts. But in the developed countries, manufacturing industries have been moved out. so unemployment rate is ever increasing, Sakir highlights these aspects of globalization in this article.