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Subayel Khair # 091 0520 030 Rakib Ahmed Raj # 091 0395 030

Globalization is known to feed rich countries but is proved to have

detrimental effects on creativity and human development in developing countries.

As the barriers of markets in developing countries loosens, more

foreign firms flood the market with their products and services which causes local firms to shy away from competition.
Dumping of the rich world's produce on world markets. Stops local industries from being developed as competitions become

Helps spread the materialistic lifestyle and attitude that sees

consumption as the path to prosperity.

Environmental integrity put to question as polluting corporations take

advantage of weak regulatory laws of developing countries.

Encourages firms from advanced nations to move manufacturing

facilities to less developed countries that lack rules and regulations regarding the protection of labor and environment from abuse.
Firms of developed countries not willing to cope with environmental

regulations as manufacturing costs are increased significantly.

Developed nations enjoy healthy environment while poor nations

face increased concentration of deadly pollutants.

The deepening of poverty and inequality has implications for the

social and political stability.

Rich countries grew on average by almost 2 percent per capita

annually from 1980 to 2002, whilst the world's poorest 40 countries had a combined growth rate of zero. For large swaths of Africa, the income level today is less than 1-dollar-per-day
Poor nations being held back by large debt burdens. 40 or so highly indebted poorer countries home to 700 million

people in which govt. debts average to 85 percent of the value of economy measured by GDP.
Servicing these heavy debt loads leaves the governments with little

left to invest in important public infrastructure processes.

Paying the workers of poorer countries only a fraction of what is actually

Emigration of unskilled adult workers from poor countries to rich

countries increases the incidence of child labor.

Child-wage subsidies, such as subsidized meals, increase the incidence

of child labor by lowering the costs of child labor to employers.

About 15 percent of children worldwide from 5 to 14 are classified as

child laborers of which, about 171 million children work in hazardous conditions and 5.7 million are forced to work against their will.

About half of the world's soccer balls are made in Pakistan, and each one of them passes through a process of production where child labor is involved. involved in the production line. Majority of these children work in Asia, e.g. in the nations of India, Pakistan, Bangladesh and Indonesia.

More than 200 children, some as young as 4 and 5 years of age, are

Interdependent global economy shifts economic power away from

national governments
Unelected bureaucrats impose policies on the democratically elected

governments limiting the nations ability to control its own destiny.

The WTO arbitration panel can issue a ruling instructing a member

state to change trade policies. If it refuses to comply with the ruling, the WTO allows other states to impose appropriate trade sanctions on the transgressor.