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People who support the idea that globalization creates jobs say that the introduction of jobs stimulates the local economy. They also say that the jobs help the locals increase their standard of living, which enables them to get a better education.

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Q: What are the arguments of those who say that globalization creates jobs and boost wages?
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How has globalization affected farmers in LDCs?

Generally globalization would not help farmers in lesser developed regions as with globalization bigger corporations will have access to sell their products in those lesser developed regions. But farmers can also use globalization to their benefit by selling their goods and expanding their markets elsewhere through the means of globalization and industrialization.


What is the difference between globalization and globalism?

Globalism is the idea of events in one country that cannot be separated from those in another. Globalization is the increase of trade around the world.


What is the importance of globalization?

Globalization causes prices of products to go down. Businesses can have their workforce in another country, and pay them less. Because it is cheaper to make those products elsewhere the consumer can purchase these products for really low prices. This helps people in other countries buy what used to be expensive items, for really cheap.


What does interdependence mean when it comes to globalization?

Mutual dependence at a global level. One country depends on another country for something and that country may depend on another country, which eventually creates global interdependence. Importing and exporting of goods and services highly contributes to global interdependence. Certain commodities such as oil have created a global interdependence between countries that produce the precious commodity and those that covet it.


How do the economic effects of globalization on developing countries compared to those developed countries?

Intergovernmental organizations have brought economic aid to developing countries, but have given developed countries more influence and control.

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How has globalization affected farmers in LDCs?

Generally globalization would not help farmers in lesser developed regions as with globalization bigger corporations will have access to sell their products in those lesser developed regions. But farmers can also use globalization to their benefit by selling their goods and expanding their markets elsewhere through the means of globalization and industrialization.


What is the difference between globalization and globalism?

Globalism is the idea of events in one country that cannot be separated from those in another. Globalization is the increase of trade around the world.


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Globalization has opened up the world to more business opportunities. People from one country are able to trade with those in other countries freely and effectively.


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To what extent does globalization contribute to sustainable prosperity for all people?

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