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Globalization!
Let me tell you...
Mom
What is "globalization"?
Globalization is the term used to describe the free and fast movement of people, ideas, capital, and resources between countries.
Not exactly...
Sounds cool!
Some of the pros of globalization are: it increases standards of living, spreads consumer products, and gives access to newer markets.
Some of the cons of globalization are: it causes some environmental problems, diseases are being spread faster, and there's unemployment in the older industrialized nations - jobs are being moved to newer nations because companies are allowed to pay workers less.
Job displacement is quite large in globalization.
Unfortunately it isn't.
So, globalization isn't all good?
Exactly!
:)
Mom
I understand now. Globalization has both good aspects and bad aspects!
Thanks for explaining this, mom.
Although there are pros of globalization, there are also cons.
Learn more about globalization at www.usnews.com!
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