What are the main arguments over the impact of globalization?
Arguments against globalization mainly state that it creates job losses and decreasing wages for unskilled labor, since many firms move their production facilities to foreign countries (often developing countries) and therefore many industries no longer need their workers in the developed countries.
In reality, what happens is that as firms move their productions to foreign countries to maintain a cheaper labor workforce, they lower their costs and can sell cheaper products. During the transition, some unskilled labor in the home country might lose their jobs. The main reason for job losses however is due to technological development.
Another argument against globalization is that it drives environmental degradation, as firms tend to move their facilities to countries with lax regulations and can therefore make cost savings by not putting any effort into ensuring environmental care.
In response to this, most firms in fact want to invest in making the environment better and ensure human rights, if anything for the sake of their CSR (corporate social responsibility).
Lastly, some believe that globalization creates cultural imperialism(unequal relationships between civilizations) of global media and multinational enterprises.
In fact, globalization has demonstrated to decrease the gap between rich and poor.
