How does globalization impact poverty?

How does globalization impact poverty in developing countries?

Globalization can have both positive and negative effects on poverty in developing countries. It can create jobs and increase access to markets, but it can also lead to job displacement and inequality.

Can you explain the positive effects in more detail?

Sure! Positive effects include increased foreign investment, which can lead to job creation, and access to new technologies that improve productivity and living standards.

What about the negative effects? How do they manifest?

Negative effects often include job losses in traditional sectors, wage stagnation, and increased inequality, as benefits of globalization may not be evenly distributed.

Is there a way to mitigate these negative impacts?

Yes, policies such as social safety nets, education and training programs, and fair trade practices can help mitigate the negative impacts of globalization on poverty.