UNITED INTERNATIONAL UNIVERSITY

Individual Assignment
International Business
IBS 3121
Sec- A
Spring, 2021

Submitted to:
Noor-E-Zannat
Lecturer
SOBE, United International University

Submitted by:
Name: Md. Sakib Hossain
ID: 111 173 053

Globalization Debate
Just like every other phenomenon globalization (the shift toward a more integrated and interdependent
global economy) also has strong arguments from both of its supporters and critics based on the positive
and negative effect, impact and the influence it bares on people

Firstly, we have the supporters who strongly believes the falling trade barriers and encouragement of
investment to international trade can build a world of prosperity and wealth.

And also, we have the critics who thinks otherwise and have been active and vocal on demonstrating
their opposition towards globalization.

Here we discuss the main themes of the globalization debate

Globalization, Jobs and Income:

A concern frequently voiced by globalization opponents is that falling barriers to international trade
destroy manufacturing jobs in wealthy countries. critics argue that falling trade barriers allow firms to
move manufacturing activities to countries where wage rates are much lower. Which concerns the labor
force in advanced nations as such expansions in the global labor force results in depressed waged in
developed nations.

Supporters of globalization say that such critics are missing the essential point about free trade. As
basically free trade results in countries specializing in the production of those goods and services that
they can produce most efficiently, while importing goods and services that they cannot produce as
efficiently which reduces cost structures, enable to outweigh the costs and improves people’s standard
of living all across the globe.

Supporters also talk about the fact that the technological changes have a bigger impact than
globalization in the decline on the share of national income enjoyed by labor in developed countries.

Globalization, Labor Policies, and The Environment:

Critics have also been vocal about the concern that globalization encourages firms to move
manufacturing facilities to less developed nations that lack adequate regulations to protect labor and
environmental laws which result in abuse of labor and environment to developing nations by unethical
firms.

Supporters of globalizations disagree with such claims. They argue that tougher environmental
regulations and stricter labor standards go hand in hand with economic progress. As the economy in
developing counties grow stronger the enact more tougher labor and environmental laws.

supporters also talk about evidence economist found that displays a hump-shaped relationship between
income levels and pollution levels. Which indicates as even though the at initial point pollutions rise with
the rise of income however at some point pullulations began to fall with the increase emphasis on
environmental laws.
Supporters also argue that firms generally focus on labors well-being as it leads to productivity and is a
more influential factor for business than cost.

Globalization and National Sovereignty:

Critics argue that globalization shift economic power away from national governments to supranational
organizations. Which lets allows these organizations to impose power on national governments and
undermines the sovereignty of those nations.

In contrast to these arguments supporters say that such organizations power to impose policies is
limited to what members of the nation-states collectively agree upon. And such supranational
organizations exist to serve the collective interests of member states, not to subvert those interests. If
they fail to sever severe their member nations interests, these states will withdraw from such
organizations and they will soon collapse.

Globalization and The World’s Poor:

Critics argue that despite the supposed benefits associated with globalization, over the past hundred
years or so the gap between the rich and poor nations of the world has gotten wider. Although recent
history has shown that some of the world's wealthier nations are capable of rapid economic
development, the world's poorest nations tend to be subject to stagnation.

Supporters argue that this economic stagnation has very little if any, has to do with globalization. Most
of these pooper nations face economic distress due to issues such as corruption, rapidly expanding
population, prolonged civil war and economic policies that destroyed wealth rather than facilitated its
creation.

Supporters of globalization argue that better economic policies and globalization the best possible way
for these poor nations to improve their economic conditions.

Supporter claim that the world's wealthy nations can also help by lowering barriers to the importation of
goods from poorer countries, especially tariffs on agricultural and textile imports.