Many influential economists, politicians, and business leaders think that a shift toward a more integrated and interdependent global economy is a good thing. There is evidence to support the theory that falling barriers to international trade and investment drive the global economy toward greater prosperity. There are, however, critics who argue against globalization. Anecdotes, evidence, and arguments can be collected to support each side of the debate. International businesses need to understand the nature of the globalization debate and observe how their own practices may act in support of or against globalization. Understanding how each side sees the issues can lead toward better solutions to the problems caused by globalization.
Evaluate the issues listed on the left. Decide whether the issue is an Argument For Globalization or an Argument Against Globalization and who or what is being affected by the issue. Drag the issue to the appropriate column in the chart.
1. Manufacturing jobs move to low wage countries.
2. Increased efficiency of the whole economy.
3. Lack of adequate regulations to protect the environment.
4. Economic power shifts from nations to international institutions.
5. Tougher environmental regulations follow economic progress.
6. Real power resides with nation-states.
7. The gap between the rich and the poor nations of the world has gotten wider.
8. Living standards improve.
A. Who or what is affected
1. Producers
2. The environment
3. Consumers
4. Workerd
B. Arguments For Globalization
C. Arguments Against Globalization