What is the impact of globalization on poverty?

What is the impact of globalization on poverty?

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 displacement and income inequality.

Can you explain how globalization creates jobs?

Globalization opens up new markets for businesses, allowing them to expand and hire more workers. It also encourages foreign investment, which can lead to job creation in developing countries.

What are some negative effects of globalization on poverty?

Negative effects include job losses in certain sectors, wage stagnation, and increased competition that can harm local businesses, leading to higher poverty rates in some areas.

How can countries mitigate the negative effects of globalization?

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