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Cheap labor can drive down production costs for companies, making goods more affordable and accessible to consumers worldwide. However, it can also lead to exploitative working conditions and wage suppression in developing countries, perpetuating poverty and inequality. Additionally, while companies may benefit in the short term, reliance on cheap labor can hinder technological advancement and local economic development. Overall, the impact of cheap labor on the global economy is complex, balancing cost efficiency with ethical and social considerations.
What else can I help you with?
How did Americans both reject and embrace the new global influence of the US?
Working people are angry in a global economy because jobs go overseas, but business people profit from cheap labor/lower taxes.
Why can the global economy have enough specialized production?
The international division of labor
The global economy can have specialization in production because of what?
The international division of labor
What is the basis of the Indian economy?
exporting and providing cheap labor for other countries
How does urbanization and competitive global economy lead to deforestation?
The urbanization and competitive global is what raises the labor cost. This is for farmers.
How did the plauge affect the economy of europe?
It caused a labor shortage
How does the labor unions affect a mixed economy?
How dose labour unions can effect a Mixed economy
What has the author Sharon Harley written?
Sharon Harley has written: 'Women's Labor in the Global Economy'
What has the author Elizabeth McLean Petras written?
Elizabeth McLean Petras has written: 'The global labor market in the modern world-economy' -- subject(s): Labor mobility, Labor supply 'Caribbean labor migrations in a global labor market' -- subject(s): Alien labor, Emigration and immigration, Labor mobility, Labor supply
What is global economy and how have the effects of global competition on the us economy affected you and your family?
Global economy refers to the expansion of economies beyond national borders, in particular, the expansion of production by transnational corporations to many countries around the world. The global economy includes the globalization of production, markets, finance, communications, and the labor force. Global competition is effecting on the US economy in several ways. First many of American companies moved to China because of cheap labor and more profit. More and more American companies are investing in China and India.As a consequences,people living in America like us looses job and makes harder to get the job. Prices are going up while there is no increase in paycheck.So , this leading us poverty as number of competition increases.
Why did political leaders of the south generally support slavery?
Slavery benefited the economy: a cheap, pliant force of workers enabled enormous profits.
Why was the expansion or colonization important for the industrial revolution in England?
Colonies provided a market for finished goods or Colonies provided cheap labor. Colonies provided England with raw materials.
