Globalization plays a big role in our modern world. Since the early 1900s globalization has become a huge issue of the modern society that has changed all aspects of society
ranging from education, social relations, politics, career and workspaces. From another perspective, however
globalization has also affected these sectors in many positive ways and brought forth benefits that could not exist before.
But how has globalization affected the world in terms of business, major corporations, workers and consumers altogether?
Globalization has led to corporations pursuing financial advantage by decreasing their costs for labor.
Major corporations employ labor from and in Third World countries primarily located in South East Asia in countries such as Bangladesh and India for production services
as the labor market and financial structures in these places are advantageous for richer countries.
India and Bangladesh are commonly known for having poor conditions, unregulated markets, extremely low wages and more.
An example is granted by statistics showing that 80% of all factory workers in the production sector are young mothers around 25 years of age and the rest young children.