how globalisation has created problem of unemployment
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But, if lets say China's unemployment was to reach 30% then it would have a trickle down affect on the world. ... However, unemployment also means that the supply of labor in the market increases which brings down the average wage levels - this is what the firms like. Higher unemployment means lower national output.
In fact, trade tends to increase an economy's total income. But those gains don't affect all people equally. As low-skill workers watch their job options dwindle and wages decline, demand for skilled workers actually increases.
Globalization has brought benefits in developed countries as well as negative effects. The positive effects include a number of factors which are education, trade, technology, competition, investments and capital flows, employment, culture and organization structure.
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In fact, trade tends to increase an economy's total income. But those gains don't affect all people equally. As low-skill workers watch their job options dwindle and wages decline, demand for skilled workers actually increases.
Globalization has brought benefits in developed countries as well as negative effects. The positive effects include a number of factors which are education, trade, technology, competition, investments and capital flows, employment, culture and organization structure.
HOPE IT'S HELP YOU
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So far, in developed countries, low-skilled workers have been most affected by stagnating revenues and / or increasing unemployment due to competition from developing countries' workers and also as a result of technological progress. ... In developed countries, economic globalisation results in opposite trends.
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