Globalization refers to the connection and integration of governments, mostly driven by international trade, as well as investments supported by information technology. One of the critical components that enhances globalization is the free trade that is conducted through interdependent countries (Kopp, 2019). Despite many advantages of globalization on countries’ economies, the process has its disadvantages, particularly regarding employment opportunities. The idea of globalization in free trade largely benefitted huge corporations. However, in both emerging and developed countries, globalization has had mixed impacts on cultures, workers, and small businesses.

            However, globalization has brought negative impacts on domestic employment. For instance, the practice has led to job insecurity. Previously, skilled and educated people faced very little or no difficulties in seeking employments from companies and the government while also receiving high salaries. However, with increased globalization, employers take great advantage of cheap labor due to the increased availability of well-trained personnel (Kopp, 2019). The increase has threatened employment opportunities in various economies. Therefore, as much as globalization has benefits, it also makes some people worse off, particularly those who lose their jobs and experience extended periods of job loss (Ortiz-Ospina, 2018). Moreover, both the issues of reduced wages from the availability of cheap labor and the cost of living due to stronger economies result from globalization.

            There is a need to enforce labor standards in free trade agreements because of such implications. Including labor standards within trade deals can help to ensure worker protection. Therefore, the most beneficial labor standards ought to be those that stress on human rights, and particularly regarding conditions and wages (Salem & Rozental, 2012). Just like the trade practices that focus on health and safety, the International Labor Organization can offer this as another crucial standard in the free trade agreements.

WE’VE HAD A GOOD SUCCESS RATE ON THIS ASSIGNMENT. PLACE THIS ORDER OR A SIMILAR ORDER WITH PapersSpot AND GET AN AMAZING DISCOUNT

 References

Kopp, C. M. (2019, May 9). Globalization. Retrieved February 29, 2020, from Investopedia: https://www.investopedia.com/terms/g/globalization.asp

Ortiz-Ospina, E. (2018, October 22). What’s the impact of globalization on wages, jobs and the cost of living? Retrieved February 29, 2020, from Our World in Data: https://ourworldindata.org/trade-wages-cost-living

Salem, S., & Rozental, F. (2012). Labor standards and trade: A review of recent emperical evidence. Journal of International Commerce and Economics, 63-98. Retrieved February 29, 2020, from International Labor Organization: https://www.usitc.gov/publications/332/journals/laborstandardsandtrade.pdf