Globalization can make economic inequality worse in local communities in a few ways:
Job Loss: Sometimes, companies move their jobs to countries where workers are paid less. This can leave local workers without jobs.
Lower Pay: When more companies compete for workers, they might pay less. This is especially tough for low-skilled workers and can make the difference in income between rich and poor people bigger.
Wealth in Cities: A lot of wealth tends to gather in big cities, while rural areas often get ignored. This creates bigger differences between those who have money and those who don’t.
To help solve these problems, local governments can make rules that support fair trade. They can also invest in education and help people learn new skills. Supporting small businesses can also help make sure that resources and opportunities are shared more evenly.
Globalization can make economic inequality worse in local communities in a few ways:
Job Loss: Sometimes, companies move their jobs to countries where workers are paid less. This can leave local workers without jobs.
Lower Pay: When more companies compete for workers, they might pay less. This is especially tough for low-skilled workers and can make the difference in income between rich and poor people bigger.
Wealth in Cities: A lot of wealth tends to gather in big cities, while rural areas often get ignored. This creates bigger differences between those who have money and those who don’t.
To help solve these problems, local governments can make rules that support fair trade. They can also invest in education and help people learn new skills. Supporting small businesses can also help make sure that resources and opportunities are shared more evenly.