Question

In the United States, some people believe that globalization has depressed the wages of American workers resulting in the loss of both blue-collar and white-collar jobs. This is an example of:

1) discrimination
2) domination
3) globaphobia
4) management myopia
5) economic crisis

Answer 1

The belief that globalization harms American workers by lowering wages and causing job losses is an example of globaphobia, which reflects fears related to the impacts of globalization.

Step-by-step explanation:

The belief that globalization has depressed the wages of American workers and resulted in job losses is an example of globaphobia. Globaphobia is a term used to describe the fear or anxiety over the impacts of globalization, including the loss of jobs and downward pressures on wages within high-wage countries due to competition with low-wage labor pools from peripheral and semi-peripheral nations.

Globalization has indeed brought challenges such as the international division of labor. Historically, from ancient societies to the post-World War II period, globalization and trade have continuously expanded. However, the rapid advancement in technology and communication has recently intensified this effect, leading to incited fears and nationalist backlash in various parts of the world, such as the Brexit vote and the election of Donald J. Trump for President of the United States.