Is globalization good for all countries or only for rich countries?
Ans. Globalization is good for all the countries.
Free trade reduces the barriers such as value added taxes, subsidies, tariffs and other barriers between nations. These barriers are reduced not removed. Globalization leads to global economic growth; create jobs, lowers prices for consumers and making companies more competitive. Competition is supposed to reduce the prices down. It also provides poor countries through infusion of technology and caputsl with the chance to develop economically and by spreading prosperity and respect for human rights tend to flourish as well. There is also more influx of information between two countries.
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