Production jobs in developed countries are moving to lower cost locations such as South America and China. Globalization and the relocation of production allows for lower-cost production which benefits the consumer with lower prices and thus leading to an increase in purchasing power which the American dream is all about isn't it? It comes at the cost of lost jobs in the production sector in home countries which leaves people with a lack of options for other employment.
'Economic growth' is based on a paradigm that we live on a planet with infinite resources. Corporations spend great effort into setting up stranglehold trade agreements with 3rd world countries. The International Monetary Fund (IMF) and World Bank ensure that third world countries have to open their markets, while the 'free market western economies' set up fences around theirs. The set up is such that NO jobs are available in third world industries, apart from the ones created by western companies, who pay scarcely over cost-price to the producers, while making record profits on selling their goods to rich westerners.
In a true free-market, those third world countries would have an equal change at exporting their OWN products to the West, which would result in profit being made by the third world producers. However, there are tax-barriers where it's okay for the third world to export their raw materials (hence all the oil-export, fruits and vegetables) but where the amount of import-tax on end-products (such as phones, computers, cars, etc.) is so high that it makes their products by default noncompetitive.
The only exceptions to this rule are companies that have head-quarters in the US or the EU region. The current struggle within the EU is actually quite a good example of how badly globalization works. It works for Capital (which can move freely and generate profits wherever they are to be made) but it leaves weaker countries with enormous trade-deficits.
IMF and World Bank politics and demands are destroying local industries and they're introducing true poverty. The 'globalism works' argument comes from sources that benefit from cheap labor and resources and who try hard to down-play the true consequences.
Directed by: Naomi Klein, Avi Lewis