GLOBALIZATION

GLOBALIZATION

1. Industrialization permitted the cheap production of household items using economies of scale, while rapid population growth created sustained demand for commodities and manufactures.

2. weeks. In its simplest way we can describe globalization as elimination of borders such that each country becomes socially, politically and economically interdependent with one another.

3. globalization has resulted in increased access to more goods and consumers in many countries, reduced prices due to competition with local monopolies and increased food supply due to industrial agriculture in some countries. There is a worldwide market for the companies and for the customers there is a better access to products from different countries.

4. A recent study by the London-based Centre for Economic Policy Research reports that globalization increases economic growth and improves the incomes of both rich and poor people. The researchers claim that the number of people living in poverty today would be even greater without globalization.

5. there is more inequality among and within countries today than in the past. Between 1870 and 1990, the gap in per capita income between rich and developing countries has grown fivefold.

6. The threat of job displacement is one of the most tangible concerns that critics have regarding globalization. Workers have more employment opportunities in some countries, but they have less in others where certain industries and firms have been put out of business by global competitors.

7. It has been responsible for creating and exporting technologies that use fewer natural resources and result in less waste and pollution.