Journal topic 8: Debate on Globalization

Journal topic 8: Debate on Globalization

Many developing countries especially those in Asia, have been behind on many fronts, and are trying to catch up to the rest of the developed world. Their standard of living is substantially lower standard of living compared to western cultures. With Globalization, their standard of living is improving at a much higher rate, double the standard of living in 10 years. Globalization is the opening of ports and passageways to communication with the world, this includes trade of services, goods, and technology. The benefits of globalization from the developed point of view is cheap labor so they can have a greater profit. These developed countries also get a new set of consumers to sell their goods to. The benefit from the developing country's point of view is that they have more work and can now afford to get more goods and increase their standard of living. The cost of this is that people who used to work in the jobs that are being shipped overseas have lost their job. This causes those unemployed people to become thoroughly pissed off, but this is just like a technological change, except its a change in human resources.