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Does Globalisation Promote Employment (Offshoring (imported goods vs…
Does Globalisation Promote Employment
Offshoring
imported goods vs domestic goods have created job losses in OECD countries
certain industries have not been affected as they are dependent on international competition
pharma, agribusiness, automotive
lower value added goods produced in developing countries have an impact on job losses
wage competition has impacted jobs
low skilled and labour intensive jobs offshored
globalisation has reduced barriers and advances in tech makes it easier to offshore part of a business
only a small proportion of jobs are lost through offshoring (US, Europe)
other more prominent variables impacting jobs
restructures
bankruptcies
process improvements due to technology
corporate strategic re-orientation
Job creation
globalisation and competition from developing nations did not hinder job creation in OECD countries
more jobs created in value added industries
offshoring and new business creation also created jobs in developing nations
Globalisation creates more jobs than it loses