How globalization Affects Jobs
Globalization allowsmarkets worldwide to relate in mutually beneficial ways. The concept has grown steadily over the past decades because of favorable trading environments. However, the trend of exchange observed through the centuries has been that emerging economies have tended to lean towards those in developed countries (Bowler, 2017). The impact of emerging economies on globalization is increasingly being felt, with various countries waking up to the new reality. The essay will outline the effects of globalizationon employment and how it has affected the world.
Globalization has affected the nature of jobs. Global economies allow people to work and acquire wealth in different markets. People can physically migrate to other more productive locations, or they can remotely access such markets through technology. Bowler (2017) opines thattechnology has allowed for a virtual migration of knowledge, which inturn has changed the nature of occupations since part of jobs or stages in a factory can be outsourced. The author observes that therecent backlash by many countries against globalization is likely to grow since globalization will become more disruptive in the future.
Globalization has affected the availability of jobs. Companies can produce more effectively by taping on mechanisms of global markets such as access to cheap labor, which reduces their production costs. Unhealthy competition between companies can result in company closure, job losses, or offshoring(Bowler, 2017). The most affected sectors include manufacturing and low skilled jobs. The imminent threat is evidenced by the move by governments such as the European Union to cushion workers against the negative impact of globalization(Bowler, 2017).
In conclusion,various countries benefit from international trade.However, globalization has significantly impacted the nature of jobs and job availability.
References
Bowler, T. (2017, February 01). Will globalisation take away your job? Retrieved July 31, 2020, from https://www.bbc.com/news/business-38600270