Can anyone outline the Impact of globalization on employees Advantages & Disadvantages?
If by globalization you mean more international trade, on average the standard of living will improve. But remember that you can drown in a river that is on average only one foot deep. The impact on workers can be very different. One economic theory says that the type of worker that is relatively abundant compared to the other countries that you trade with will benefit the most. The relatively scarce workers will be harmed. For example, consider more trade with Mexico. Compared to the US, Mexico has many unskilled workers. They will benefit the most from trade. Skilled workers in Mexico, however, may be harmed by trade because they have to compete with the many more skilled workers in the US. It is just the opposite for the US, unskilled workers may be harmed because they have to compete with so many unskilled workers in Mexico. However, skilled workers will benefit the most in the US. Unfortunately, this tends to worsen the distribution of income in the US and makes it harder for work
