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Globalization

Student’s Name

Institutional affiliation
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Globalization continues to rise in many countries due to the improvement of various

factors like trade, transportation and new technological innovations. Many marketing systems

are growing from providing local services and products to other countries worldwide. However,

the development of global markets has brought both negative and positive outcomes in all

aspects of our daily lives.

The main implication of globalization is the smooth flow of items in and out of the

country and the improved exchange rate systems. The effect results from the integration policies,

which are implemented to control the economy of the market and they minimize the barriers that

hinder trade among the countries in the union. The guidelines also have negative impacts as they

lead to an overreliance on cheaper exported goods than the manufactured products in the country

(Hameed et al., 2021). In addition, globalization has improved the education system as learning

materials, and knowledge is highly accessible (Abdullah, Gill & Shoukat, 2021). Some

institutions sponsor students to learn in the best schools and universities around the world.

The two ethical problems associated with the global topic include the continued poverty

and the social inequalities of the low class and the minority groups. Globalization has improved

poverty in the agricultural areas, as the small scale farmers cannot meet the high standards

available in the global market; they eventually lose their customers and experience high losses.

Moreover, the local manufacturers are gaining minimum profits to manage their businesses due

to the increased competition from the exported products, which are cheaper and of high quality

(Hameed et al., 2021). Globalization has also contributed to unequal access to essential resources

like medicine and drugs, as the minority group is considered the last option when distributing the

items.
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The possible solution to the issue of poverty is reducing the number of products being

exported in the country when adding more tariffs to provide a chance to the local manufacturers

and farmers. The government should also avoid the international debts as they cause economic

stagnation and decline in the country, worsening poverty. In addition, the global policies should

be amended to minimize the unequal distribution of resources in developing countries,

improving equality access in the worldwide market.

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References

Hameed, K., Arshed, N., Yazdani, N., & Munir, M. (2021). On globalization and business

competitiveness: A panel data country classification. Estudios De Economia

Aplicada, 39(2), 1-27.

Abdullah, M., Gill, A. A., & Shoukat, A. (2021). Road to Openness: Implications of

Globalization for Education in Pakistan. Global Economics Review, VI, 75-86.