Why globalization is harmful to the interest of developed countries

Globalization is a concept that encourages more interconnectedness in the world, especially cultural and financial interconnectedness.

I would say that globalization has harmed the economic interests of the middle class in the USA and other Western countries.

This is because due to globalization, corporations can pay much less to the labor class from developing countries and reduce their costs.

Since lower production costs are favorable to companies, they forego the need to employ labor from the developed world.

The fight is to reduce the costs to the lowest denominator.

Another disadvantage of globalization is that developed countries do not have fair access to the markets of developing countries like India and China because of their policy of protectionism.

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Jamie Larson