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Economics:

10th Edition
BOYES + 1 other
Publisher: Cengage Learning
ISBN: 9781285859460

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BuyFindarrow_forward

Economics:

10th Edition
BOYES + 1 other
Publisher: Cengage Learning
ISBN: 9781285859460
Chapter 18, Problem 6E
Textbook Problem
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What are the major arguments against globalization?

To determine

To explain:

The arguments that are against globalization.

Explanation of Solution

The arguments that are majorly faced against globalization are as follows:-

  • Countries become less competitive when goods are produced at low costs causing individuals out of jobs. Thus, free trade is one of the reasons for arguments in globalization.
  • Another criticism faced is the liberalism of monetary sectors, so that the cross-boundary versatility of resources gets thrust. These are observed as a barricade to independent decision, building that trade truly belongs to local authorities. The World Trade Organization is a means for agreement between corporations and international trade is regulated through World Trade Organization. The earnings from WTO are not in favor of the interest of the local authorities...

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