|
Title: Does globalization promote economic growth, and how does globalization affect the welfare of a given ... Post by: James89 on Nov 19, 2018 Does globalization promote economic growth, and how does globalization affect the welfare of a given country's citizens?
Title: Does globalization promote economic growth, and how does globalization affect the welfare of a given ... Post by: bob smith on Nov 19, 2018 More globalized countries generally experience much higher annual growth rates in real GDP per capita than countries that are less open to foreign trade and investment. As countries become more globalized, advances in technology in those countries become more likely, and advances in technology are a key to economic growth. However, foreign influences in some countries are not always viewed as positive, as they can have a greater impact on culture than some would like. In addition, multinational firms that operate in foreign countries may also pay very low wages or fail to uphold the same safety and environmental regulations they are required to follow in their own countries.
|