Question

What effect did globalisation have on employment opportunities? Clarify.

Hint:

Globalisation connects economies globally, but its impact varies by industry and worker skill level.

Answer 1

Positive Effects:
Increased job creation in sectors like IT, manufacturing, and services due to foreign direct investment.
Enhanced opportunities in global markets for skilled workers. Expansion of export-driven industries.
Negative Effects:
Job insecurity due to outsourcing and contract-based jobs. Decline in traditional industries unable to compete globally. Widening income inequality as skilled workers benefit more than unskilled ones.