1. What is globalization?
   Globalization refers to the process by which people, goods, and services move more freely across national borders. As globalization continues, countries become more economically integrated.
   
   
2. What are the arguments against globalization?
   The arguments against globalization focus on the belief that multinational corporations exploit people and the environment to reap big profits. Opponents of globalization contend that governments in developing countries permit lax environmental standards and weak safety regulations so that multinational corporations searching for the lowest costs will locate in their countries. These governments allow their workers to be exploited by multinationals, who pay lower wages than workers in developed countries receive. If people in developing countries are willing to work for lower wages, workers in developed countries will lose their jobs as a result of free trade agreements. Finally, critics of globalization argue that the international organizations that are supposed to protect people are tools of big multinationals and serve only corporate interests.
   
   
3. What are the arguments in support of globalization?
   The arguments for globalization focus on the belief that free trade based on comparative advantage increases living standards for all countries. Although some individuals and firms will be hurt by losing out to lower-cost producers, the gains to consumers greatly outweigh the costs of providing a safety net for inefficient producers. There is no evidence of a "race to the bottom" where multinational firms move to countries with lax environmental standards. Since it is common to find long waiting lists of workers who want jobs at multinational firms, it is hard to argue that workers in developing countries are being exploited. Multinational firms tend to pay higher wages and provide greater benefits than local firms. Rather than serving as tools of multinational firms, international organizations are funded by governments and provide a forum for change.
   
   
4. How has globalization affected economic growth and poverty?
   Globalization has increased economic growth and decreased poverty.
   
   
5. Can recent financial crises be linked to globalization?
   Globalization magnifies the effect of a country's economic policies. If the country has sound economic policies, investment funds will flow into the country and increase its economic growth. If a country has poor economic policies, foreign money will flow out and make the economic situation even worse.