Globalization is described as the trend toward greater economic, cultural, politicl, and technological interdependence among national institutions and economies. The benefits of globalization are global sustainability, reduced marketing costs, and new market opportunities. There are arguments on whether it is a good or bad thing.
Those who favor globalization argue that it increases wealth worldwide and advances the economies of developing nations. However, those who oppose it argue that it eliminates jobs in developed nations or other countries begin to exploit workers in developed countries. Another key thing to the argument is that a company can pay someone in another country less than what they would pay for a worker in their country. They are allowed to do that because of the difference in cost of living.
Economically, Ireland ranks as the 2nd in the practice of globalization. Ireland entered the common market in the 1990s and have improved their economy. One news outlet describes Ireland as the "poster child" for globalization. One of Ireland's major exports and imports is pharmaceuticals. As of 2014, eight of the ten global pharmaceutical companies reside in Ireland (Haugh). This could the influence on Ireland's rank in globalization.
Sources:
http://oecdobserver.org/news/fullstory.php/aid/5456/Ireland_92s_economy:_Still_riding_the_globalisation_wave.html
https://www.politico.eu/sponsored-content/ireland-globalizations-poster-child/
Tatseyana
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