THE PROCESS OF GLOBALIZATION: PROBLEMS OF INEQUALITY IN GLOBALIZATION

Mariia Kaparnyk

doi:10.51582/interconf.7-8.06.2021.003

Abstract

This article gives a quick overview of the evolution of cross-national cooperation through various historical periods. A comparison of the present globalization process with the oldest types of state interactions was conducted, and several factors that directly or indirectly influenced the simplicity of international cooperation were identified. The key stages of development and legislation creation that affected the growth of commercial ties between states and foreign firms were emphasized. Globalization's manifestations in numerous realms of human life, its influence on life and the spheres of life, and probable future possibilities and circumstances of existence were also discussed. As a result, the many forms of globalization that exist today have been emphasized. In addition to the potential and good elements of globalization, substantial flaws in the process have been uncovered. Reasons and justifications for these flaws were provided based on the work of Nobel Laureates in Economics. Inequality as a result of globalization was studied in more depth. The primary reasons of disparity in the manufacturing process between developed and developing countries are identified. In addition, different nations have differing salary and working circumstances for skilled and unskilled labor.

Highlights

What does the term "globalization" imply? Globalization is the process of people, corporations, and countries interacting and integrating
The growth of manufacturing centers across the world will boost the ability of businesses and consumers to use goods and services produced in certain regions and states for further production. – Financial globalization is the process of the international financial market's development as well as the removal of all types of challenges that particular countries and enterprises may experience in the future
With the expansion of international commerce, it is increasingly evident that low-wage employees from developing nations are the top priority

Summary

Introduction

Globalization is the process of people, corporations, and countries interacting and integrating. Corporations expanded into new markets by establishing production facilities in other nations. The growth of manufacturing centers across the world will boost the ability of businesses and consumers to use goods and services produced in certain regions and states for further production.

Results

Conclusion