Sample Term Paper
Emergence of globalization gave way to three conclusions that occurred simultaneously. One is the increase in economic globalization; another is stagnancy in wages of workers and labors, and previous pay levels diminished to a greater extent.
The question that stood out was about the offender behind these three transformations. Ultimately it was found that it was not globalization but the changes in technology which came up with the requirement of skilled and trained workers. The job crunch and reduced wages were the outcomes of technological change and not of globalization factors. It is said that economic prediction promotes the trade profits and there is a misconception as well that imports are destroying jobs and hence many nationalities including Americans conclude that there should be lesser influx of immigrants in the country and least foreign investments due to having reduced remunerations of labor market. The above are also considered as hurdles in the way of globalization (Stewart, 2001).
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