One of the largest benefits of globalization is to reduce poverty, as globalization leads to growth in a country through trade. Trade allows countries to be specialized in the goods and services in which they have a competitive advantage and import those goods and services they are not profitable, both Norberg and Bhagwati agree that trade increases competition and reduces monopolies throughout the global market place. Globalization has allowed both Taiwan and Vietnam to greatly reduce poverty levels and improve the standard of living across the …show more content…
Yes, globalization provides the opportunity for countries to mimic America. Imitation is the greatest form of flattery, to reject the idea of globalization because a country or its people want to mimic America goes against everything America is built upon, freedom of choice. And yes, when a country initially opens to globalization and trade restrictions are removed multi-national companies will see opportunity to capitalize on the vast numbers of unskilled laborers. In order for those workers to increase their wages the local employment market must become competitive. In conclusion, Norberg, just as Bhagwati did, successful compels the listeners of the flaws in the anti-globalization theology. To do so they provide both positive impacts and consequences of lacking globalization. I believe this video is biased but is a more accurate portrayal of globalization, than the previous film Life & Debt, as it provides the viewers with a historical view, rather than a momentary snapshot, of the changes necessary to achieve a developed society. Although globalization is not a smooth process, and includes the unsightly sweat shops at time, the complete process provides all the necessary step to elevate a country from the traditional society through to maturity as Rostow describes