Then, Donald Trump President of the United States surprised the international community by immediately deciding to withdraw from major deals, walked away from traditional bi-lateral partnerships, levied tariffs and announced a populist ‘Americanism and not globalism policy’, it prompted the elections across key nations- France and Germany in the wake of post migration controversy that had the anti-globalization parties back lashing- four out five jobs being sacrificed owing to technological advancements rather than actual trade leading to depressed wage rates.Next, the economic depression in Latin America – with Brazil, Venezuela and Mexico meant Global Corporations pulling out operations, by either disposing assets, restructuring businesses, at the risk of losing billions of dollars in currency exchange volatility affecting survival and future sustainability.
#Impacts of globalization pdf free
When Christine Lagarde quipped at the World Economic Forum in Davosearlier this year as the head of International Monetary Fund to mention “ It is not clear, that we are able to remedy them under the current infrastructure”, economists were quick to add that while globalization can mean many things, there was increased doubts among their minds on issues related to free trade, as the previous summer witnessed announcement from Britain wanting to seek divorce from the largest trading bloc in the globe.
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