Ancillary #1

The context I chose for globalization focuses more on the economic aspect. During the past few years, we have observed some influential events that symbolize anti-globalization tendencies. The election of Donald Trump and Brexit are two of the instances that we are all familiar with. One of the critical factors that caused many people to act against globalization is the new economic situations brought by globalization, such as outsourcing. Outsourcing allows firms to greatly reduce their labor costs by hiring workers in developing countries who demand much lower wages than their counterparts in developed nations. Although it is a profitable practice for entrepreneurs, it takes away jobs from the working class. The disagreement caused by the conflict of interest, therefore, caused significant division within developed nations. It seems like the benefit of both of the working classes in developed nations and developing nations are not very well served since there is no significant increase in the working condition in developing nations either. It appears that, in the end, only the companies in developed nations and the government of developing nations (since they are able to collect more taxes) are really benefiting from the outsourcing process, which is certainly not a charming goal economic globalization is trying to achieve.

It is a fundamental agreement in economics that, at least in theory, international trade and specialization ought to be beneficial to all nations within it. However, we are still far from this ideal. With that being said, I would like to delve deeper into the economic aspect of globalization to analyze the reasoning behind the issues mentioned earlier that somewhat contributed to the anti-globalization trends. Nationally, I would like to examine the relationship between economic globalization and industrial upgrading in different developing nations and former developing nations. Globally, I would like to find out some potential alternatives to the current situations that can make everyone in all nations involved in economic globalization better off. I am genuinely interested in finding out whether the economic globalization process can enrich the developing nations, eliminate worker’s rights issues, lead to a more even economic development pattern globally, and eventually lead to an equal human society in general.