Final answer:
Globalization has led to economic growth, but also challenges like job displacement and inequality. It has both positive and negative impacts on international trade and economic freedom.
Step-by-step explanation:
The question of whether globalization has been a force for good or bad is complex, as it has both positive and negative economic impacts. On one hand, globalization has allowed for economic growth and development, expanded markets, and increased access to goods and services. This has often resulted in lower prices for consumers and new opportunities for businesses to tap into global markets.
On the other hand, globalization has also led to economic challenges such as job displacement due to companies relocating to countries with cheaper labor and weaker environmental regulations. This has contributed to rising levels of inequality, particularly in the United States, as well-paying working-class jobs have been lost. Furthermore, economic freedoms brought about by globalization have not been equally distributed among the world's population, leading to disparities in prosperity.
Despite the challenges, globalization has played a significant role in shaping international trade and the global economy over the past decade. It continues to provoke debate about the best ways to manage and mitigate its impacts to create a better and more equitable world.