How does globalization affect poverty levels around the world?

How does globalization affect poverty levels around the world?

Globalization can have both positive and negative effects on poverty. It can create jobs and increase access to markets, but it can also lead to job losses in certain sectors and widen income inequality.

Can you give examples of countries where globalization has reduced poverty?

Certainly! Countries like China and India have seen significant reductions in poverty levels due to globalization, as they have integrated into the global economy and benefited from trade and investment.

What are some negative impacts of globalization on poverty?

Negative impacts include job displacement in traditional industries, exploitation of workers, and increased inequality, particularly in developing nations.

How can countries mitigate the negative effects of globalization?

Countries can implement social safety nets, invest in education and training, and promote fair trade practices to mitigate the negative effects of globalization.