From the Local to the Global: The Politics of Globalization SINAN ÜLGEN, CEYLAN INAN In its current form, globalization has exacerbated ____. Globalization 2.0 must address the ____ ramifications and power ____ of these ____, particularly in ____, data and ____, finance, tax, and ____ change policies. Published February 17, 2022 Resources Print Page Globalization has been a key driver of growth and affluence around the ____. It has allowed ____ countries to rely on their exports to boost their potential for growth. It has also helped developing nations diversify their economies and fight poverty. In China alone, nearly 800 million people have been lifted out of extreme poverty since the 1980s.1 Yet, globalization has produced both ____ and losers (see table 1), and their ____ distribution has started to raise concerns. A chief criticism of globalization is that in its current form, despite its overall ____ nature, it has worsened inequality within and among countries.2 Around the world, ____ and highly skilled workers have enjoyed outsize growth in income and wealth, both of which are increasingly concentrated in the top percentile of earners. In recent years, demand for ____ workers in industrialized ____ has steadily declined because of skill-biased technological change, the offshoring of ____ jobs, and the substitution of local production with ____ imports from emerging markets. This trend has ____ wages for low- and middle-income earners in advanced economies, especially since the 2008 global financial ____. As a result, while the general welfare benefits have been ____, distant, and diffused, the costs of globalization have been concentrated in specific communities, industries, or geographies that have suffered from ____.

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