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  • Essay / Does globalization lead to a loss of cultural identity?

    According to W. Eastery (2004), “critics fear that globalization will lower wages and increase inequality in rich countries, while promoters of globalization promise that it will raise wages and reduce poverty and inequality in poor countries. Globalization is less important for the well-being of the poor than the unfortunately more mysterious process of productivity growth (Stiglitz, 2002). Thus, for Western societies, cultural identity is not important because the economic aspect of globalization is much more important. Although they criticize the way globalization is currently managed, widening the gap between rich and poor, these critics realize that the battle is not to reverse the situation. globalization, but to enable more poor countries to integrate into the global economy in a way that will enable them