Globalization and its Impacts on Economy

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Globalization and its Impacts on Economy
There are a number of reasons that have led to the rise of globalization. In his article, China’s Labor Market, American Job Hoppers and Brazil’s Economic Opening published in the Wall Street Journal, the author Sparshott (2019) explains that the global labor market in different countries is shifting due to different reasons. He also explains further how the economies in different countries are responding to this change.
The existence of trade wars has brought an impact on the economies of the countries involved. Most of the people expect the Chinese economy to be affected by the trade tariffs imposed by the US. As the author indicates these trade tariffs imposed by US have both a negative and a positive aspect. On one side, they have made many Chinese citizens to lose their jobs. However, one the other si...