Critics of globalization say that exporting jobs to low-wage nations results in higher unemployment and lower living standards in their home nations. Which of the following statements does NOT support this argument?
A. Globalization destroys manufacturing jobs in wealthy advanced economies.
B. Globalization demonstrates a structural adjustment to a more integrated global economy.
C. Globalization results in depressed wages in developed nations.
D. Globalization leads to economic dislocation in most cases.
E. Globalization induces a decline in the share of labor in national income.
B
is worth noting that the wage gap between developing and developed nations is closing as developing nations experience rapid economic growth. Any migration of unskilled jobs to low-wage countries is a temporary phenomenon representing a structural adjustment on the way to a more tightly integrated global economy.
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