Aspect Of Globalization

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How Has Globalization Changed Economic Conditions of a Country? Globalization is a communication and connection from person-to-person, local-to-local, and nation-to-nation to preserve and develop trade, technology, education, etc. There are a couple aspects of globalization to count on, but this essay will be focusing on one specific dimension of globalization. Mostly, this essay will examine the economic aspect of globalization, as well as conduct research: how globalization has changed the economic condition of a country or the lives of people. Moreover, this paper will discuss free trade and its contribution to developing globalization. Furthermore, it will touch on the history of globalization and compare this history with today’s globalization …show more content…

In chapter two of the book Globalization Reader, author Amartya Sen shows a timeline of early globalization. He discusses arguments regarding globalization. One of the controversial issues is whether or not globalization is a new western curse. Today’s people think globalization started from the west and eventually expanded throughout the eastern part of the world. However, the author of the chapter “How to Judge Globalization” Amartya Sen clarifies that globalization is not necessarily western, but it was located far from the west. One reason that globalization did not start from the west was that thousands of years ago, China, India, and Arab countries developed the technologies, the idea of mathematics, and science before it was adapted and extensively developed by the Europeans. Many of us believe science, technology, and mathematics came from Europe, but in fact Europeans developed the existing ideas and took it to the next level (Sen, …show more content…

Trade is reducing poverty and income inequality in developing countries. It provides jobs to the native people, as well as benefits the country’s economy. In the article “Does Trade Liberalization Reduce Poverty and Inequality? Empirical Evidence from Pakistan” authors stated: “Economic globalization is making rapid changes in trade relations, finance & technology flows, and mobility of labor across the world and consequently has brought reduction in poverty incidence” (Sharif Chaudhry, 2013). It is true trade has become very beneficial to a country’s economic growth. If a country exports goods to another country, it will be advantageous to the people of exporting countries. As an example, Bangladeshi will be benefited from the exports of garment products to the United States because many unemployed people will get a job in a garment factory in Bangladesh. These kinds of trade agreements will help to reduce the poverty rates of developing countries. Therefore, trade is essential for the economic growth of a country, as well as for eradicating poverty from the

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