(a) Why is there opposition to globalization of trade and integration of the world's economy? In bullet format, list three major points of contention.
(b) Then provide a narrative of the three major arguments for and three major arguments against such globalization efforts.
There is opposition to globalization of trade and integration of the world's economy due to various reasons:
1) Globalization has led to increased competition and has exposed domestic businesses in countries, especially weaker and emerging ones, to stiff competition from global multinationals. Opponents argue that globalization has widened the difference between the rich and the poor and had led to exploitation of poor countries by the rich and developed nations.
2) Globalization has led to depletion of natural resources and environment in countries across the globe as global companies are harming the environment for their personal benefits.
3) Globalization has deteriorated the cultural values of the ...