1) Has globalization really worked ??
Today a farmer in India can sell his corn to a hungry tribe in Kenya on a international market. Whereas before globalization, a farmer in India might only have the local market to sell his corn. If all his neighbors also had corn, the market would collapse, corn would be worthless, and the farmer would go belly up.
In short, Globalization has increased the number of markets and thus expanded trade to support a global economy instead of just local economies. If you are typing on a computer today, its likely it was made in China. Thus your purchase is supporting a chinese family with a roof over their head and food on the table. More than any "save the children fund" has done to lift people out of poverty
No doubt globalization has worked for the whole world and we too have been benefited by it. Globalization has opened new avenues for the common people. I agree to what somebody said that it has opened world market for our farmers and its because of globalization that we today have 20 shirts instead 3. But as the saying goes that there are no roses without thorns. What we
saw in recent times was how an american bank files for its bankruptcy and it starts a chain reaction which rapidly engulfs the whole world and disturbs the harmony between the global economies. We witnessed suicides and people coming to rags from riches. I thank God that India was least affected by the global recession. My point is, integration with the world is good but to an extent. There should be some checkpoints!
yes. You prolly have 20 shirts.
50 years ago, you would have had 3.
Technology for making shirts did not change, what changed is who is making them and what salary they expect.
It worked for China too. 50 years ago they were all poor farmers, now they are building skyscrapers and buying cars.
It certainly did put US clothes factories out of business, but people who worked there had found other (and often better paying) jobs.