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Criticisms of globalization

Skepticism of the claimed benefits of globalization

  • 12 min read
  • 6 chapters

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Through Globalization, Economic development and Non-Aligned Movement

Economic impacts

There is a debate over how globalization affects employment. There is less domestic manufacture of everyday products as a result of globalization. When buyers search for a product, they will usually choose the least expensive option. In affluent countries, local goods are disadvantaged competing with the cheaper prices of goods manufactured abroad.

It was estimated in 2013 that the Chinese import competition as well as American corporations offshoring led to a loss of employment for 548,000 US workers between 1990 and 2000.

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