Why do many people fear trade and globalization?
A) Many fear that free trade and globalization lead to increased productivity.
B) Many fear that an open economy spurs innovations with fresh ideas from abroad.
C) Many fear that trade and globalization will lead to massive job losses.
D) Many fear that trade and globalization will increase per capita income.

Question

Quizplus · Accepted Answer

Many people fear that trade and globalization will lead to job losses, particularly in industries that may not be able to compete with cheaper foreign labor or goods. This fear is based on the potential for companies to move production to countries with lower labor costs, resulting in layoffs for workers in their home countries.

Why Do Many People Fear Trade and Globalization