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Pros and Cons of Economic Globalization

Globalization and employment in the industrial sector of less developed countries

Outline

  • Introduction
  • Economic Globalization: Pros and Cons
  • Statistical Factors and Employment Globalization Analysis
  • Conclusion and Recommendations

Executive Summary

The paper focuses on the problems of globalisation and joblessness. In the manufacturing sector of less developed countries (LDCs), there are various ways of globalisation affecting job trends. The paper deals with the effect on job trends of economic globalisation. There is debate on both governmental and commercial issues. Particular attention is paid to the impact of globalisation in the manufacturing sector of the LDCs, as an example of applicable studies and research.

Introduction

The new trend of globalization is a wide-ranging topic for debate in a variety of research and studies. It cannot be denied that various dynamic aspects are correlated with this background.The borders between various nations are blurred, and it is necessary to concentrate on clear requirements for the creation of different patterns of jobs that vary from those that existed previously. Globalization has several different facets, and we will focus further on economic globalisation. Concerning it, we found it necessary to define the phenomenon of financial globalization: “Economic globalization refers to the increasing interdependence of world economies as a result of the growing the size of cross-border trade in goods and services, the influx of foreign capital and the widespread and rapid spread of technology. It represents the continued growth and mutual integration of the business boundaries. It is an irreversible trend for the economic development in the whole world at the turn of the millennium[1] ” It can be surely claimed that the development of technologies and flow of international capital across different countries enable foreign markets to create a significant number of new jobs. Employment is moving at a full speed, yet this phase evokes many different social reactions quite often. Globalization has steadily increased in the economic world, on the one side, and numerous reforms have occurred to promote globalisation processes.

Pros and Cons of Economic Globalization

Economic Globalization: Pros and Cons in the Manufacturing Industry of LDCs

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