Task: Please provide basic research information and sources to assist me in writing a 25 page paper.
What Are the Costs/Benefits to a Country of Remaining Isolated in an Increasingly Globalized World Economy?
1) What is economy globalization: all aspects including cultural, financial, and social.
2) Benefit of Globalization:
- Lower Prices for Consumers
- Greater Choice of Goods
- Bigger Export Markets
- Specialize a certain Good
- Greater competition
3) Cost of Globalization:
- Environmental Cost
- Labor Drain
- Less Culturally Diverse
4) Benefits of Isolating from a Globalized World Economy:
- Reduction in Environmental Waste
- Utilization of skilled workers
- More financial Stability
5) Cost in remaining isolated:
- Less Competition
- Less Export of Goods
- Higher Prices for consumers
- Less Specialization