Globalization and Labor

Globalization refers to the increasing interconnectedness of economies, cultures, and societies across the world. This process allows goods, services, and labor to move more freely between countries. In terms of labor, globalization can create job opportunities in developing countries as businesses seek lower production costs. However, it can also lead to job losses in developed nations as companies move operations abroad. Additionally, globalization can affect workers' rights and wages, as companies may exploit cheaper labor markets. Overall, globalization reshapes the labor landscape, presenting both challenges and opportunities for workers worldwide.