GLOBALIZATION
Free movement of goods
It has impacted globalization since it has made it significantly more accessible for the transportation of goods, making it a lot easier and enhancing trade between different countries and regions. This can also benefit consumers since when there is more of said product, the cheaper it is.
A current example is how free trade under CETA has Lower prices for European cheese, wine, chocolate and other goods because of the availability of goods.
International Cooperation
With international cooperation from different countries, nations they must be willing to work together and put their problems aside. This is related to globalization because of the expansion of ties and the rising understanding of these interactions. Due to this, increased globalization has been linked to a reduction in conflict.
An example of this, which was current, was how the,The World Economic Forum finished its Annual Meeting 2023. Which now will try to bring world leaders to look into immediate economic energy and food crises while still trying to be sustianable.
International recruitment
If the country struggles to find or lacks certain kinds of needed jobs, for instance, in Canada, they plan to start recruiting nurses from the Philippines. This is a part of globalization because now countries are out-sourcing from different countries to find people, to find jobs in fields where they have shortages of workers.
Affects labor in high cost countries
globalization doesn't exactly increase labor but actually distributes labor across countries. Companies are moving their production to countries with cheaper labor from high cost countries resulting in people losing their jobs in countries with high cost labor
For example huge companies like Nike Adidas move their production to lower cost countries like Bangladesh. About 36% of nike's factories are located in Chine and Vietnam and about 22% are located in Indonesia. which is resulting in a loss of jobs in countries like USA and UK.
Affects local businesses
Huge companies gain an advantage from globalization as they have resources and an stable infrastructure for them to promote their product globally while affecting small business who are trying to competing against these businesses.
For example a company like Burger King has stores in over a hundred countries and has sales worth almost 35 billion dollars in annual income and compared to a local burger join which has a couple outlets in neighboring cities doesn't even come close to competing against a company like burger king.
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Unequal economic growth
Globalization results in an economic growth for everyone but its not always equal the richer countries often benefit more than countries that are still developing
Companies that originate from countries like USA benefit the US economy more from manufacturing its good outside of the country and selling it in the US while the countries they manufacture their good in does help the country's economy but the overall growth of he economy is slow or stagnant
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