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World Bank and the Internal Monetary Fund can speak volumes on the benefits of globalization, arguing that it spreads world wealth around, improves women's rights and literacy, in addition to encouraging environmental stewardship. Most businesses rise to the occasion and do the right thing, they conclude. However, a growing number of anti globalization activists point out the globalization challenges that - if not considered and dealt with - can lead to a host of world globalization issues.
It doesn't take much looking around to see the local effect of globalization. For instance, in Buffalo, New York, the only local comedy club packed up and moved to Aruba to cash-in on the tourism industry. Foreign competition and European technological advancement after WWII led to the shutdown of the Bethlehem Steel Corporation and the joblessness of more than 7,000 workers. Trico, Zenith and Fischer-Price have all moved to Mexico. General Motors closed one of its auto plants due to foreign competition, laying off $1,700. Buffalo, once the heart of thriving economic growth, is now in a state of disrepair and economic depression, and it's only one of many cases around the United States. Anti globalization activists also remind us of the larger scope in the globalization debate: the exploitation around the world by money-grubbing tycoons.
According to the nonpartisan Economic Policy Institute, the North American Free Trade Agreement has resulted in a trade deficit with Canada and Mexico, causing the displacement of 879,280 high-paying manufacturing jobs, which has decimated our middle class. In 1993, NAFTA was signed with the intention of creating more jobs, not moving all the current jobs away and weakening labor unions. In addition to job loss, Americans who remain staunchly anti globalization also fear the globalization impact on our federal budget and consumer commodities. For instance, it is estimated that $860 billion dollars are spent each year on militarism paid to private security companies to protect our overseas investments. Few people living today can forget how Saddam Hussein threatening our oil fields in Kuwait abruptly led to the Persian Gulf War.
For international workers, NAFTA spells disaster. The Wall Street Journal reported a survey of 500 American corporate executives and found that one-quarter were "very likely" or "somewhat likely" to use NAFTA as a bargaining chip to hold down wages. In a different study of union organizing drives done in the mid-90s, researchers found that more than 50% of all employers made threats to close all or part of their plants during the union drives. Anti globalization activists have cause to be alarmed, especially when competitive pressures are jeopardizing their once secure retirements.
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