Multidimensional Structure Of Globalization: Good For Living: A Comparative Analysis

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The multidimensional structure of globalisation makes it difficult to provide the precise definition of the concept. WTO has determined that even though there are different definitions to the term, it has to be viewed as the integration of capital, investment and labour market or its integration with the world markets. Globalisation is a complicated phenomenon that can be investigated from different angles: economical, social, environmental, and political. Economic globalization considers flows of goods and services across borders, reduction of trade barriers and tariffs, immigration, the spread of technology, the spread of knowledge, etc. (Samimi & Jeatabadi, 2014).
Taking its multi-dimensional nature into account, different perspectives on
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It determined that economic globalisation fosters life expectancy, especially in the developing countries (Bailey, 2015). For example, A. Bergh and T. Nillson (Bailey, 2015) stated that Uganda’s economic globalisation index rose from 22 to 46 points for the period of 1970-2005, average life expectancy increased by two-three years.
In addition, Bailey (2015) cited the work of economists H. Urpsprung and N. Potrafke who determined that economic and social globalization is the reason to improved social institutions that reduce female subjugation and promote gender equality.
Globalisation is not an absolutely positive phenomenon, as it is the cause for serious negative consequences. One of the main negative effects of globalisation is that in order to cut down costs, many companies decided to outsource their manufacturing to developing countries where the cost of labour is low. This is the reason to resentment among the people in developed countries and companies are accused for cease of job placements. Moreover, in many cases they are not satisfied with the quality of goods and services provided by the developing countries (Pillai,
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