What are the advantages and disadvantages of globalization?

Encyclopedia of Opinion

Question: What are the advantages and disadvantages of globalization?
Position‹2 of 2: Globalization is bad
Argument‹3 of 5›: Globalization fuels inequality

Globalization makes the rich richer and the poor poorer.

The argument

Through globalization, the wages of certain segments of the workforce increase. In highly developed nations, this occurs in the hi-tech manufacturing sector and the services sector. These industries are dominated by highly-skilled, college-educated workers. These workers are already drawn from the wealthiest segments of a population. Simultaneously, the poorer, lower-educated sectors of society face increased competition from workers in lower-cost countries for unskilled labour. Their wages must be kept low to compete. Therefore, globalization is increasing the wages of the wealthiest sections of a developed society, increasing inequality and leaving the poorer segments worse off.

Context

Globalization leads to increased manufactured goods imports in developed countries with high-skilled labour and increased high-value tech and service exports. Therefore, it creates more opportunities in developed countries within the hi-tech, high-skilled sectors.

Premises

[P1]Globalization raises the wages of highly skilled, college-educated workers in sectors like hi-tech manufacturing and services, who are already drawn from a population's wealthiest segments. [P2] At the same time it exposes poorer, lower-educated workers to competition from cheaper labour abroad, forcing their wages down. [P3] The result is that the richest sections of a developed society grow richer while the poorest are left worse off. [C] Therefore, because globalization fuels inequality, globalization is bad.

Counter-arguments

On a global scale, globalization reduces inequality. It provides developing nations with increased economic opportunities. Unbridled global trade has led to the emergence of China, Brazil and India and improved living standards among the populations of developing nations. By bolstering the economies of developing nations, globalization reduces international inequality, even if it contributes to inequality on a domestic level.

Rejecting the premises

[Rejecting P4] On an international level, under these conditions inequality decreases.