Does globalization raise living standards

Globalization can be thought of as the widening, intensifying, speeding up, and growing impact of worldwide interconnectedness. With the development of globalization, the world is gradually developed into a "global village". The world witnesses in this millennium they are drastic change in the various fields of everyday life. Researchers debate whether the force of globalization will improve people’s living standards. This essay will argue that globalization raise living standards for International education, better health services and material goods.

First reason of globalization raises people’s living standards is that International education has a positive effect on the local economy. Firstly, International students have positive effect on real estate industry in buying and renting houses. There are a lot of demands from overseas buyers, especially the families whose children study in Australia (Switzer Home Loans 2012). According to the Foreign Investment in Residential Real Estate (Gauder et al. 2014, p.12) point out that compare with 1990s and in 2012, 2013 foreign investment in residential property in Australia, from around 6 billion dollars has increased to 17 billion dollars due to the number of International students increasing. Furthermore, Marginson (2010) highlights that Australia had 632,000 International students in 2009, their spending on education and housing generated 17 billion dollars a year. Moreover, Property Observer (2011) reports that overseas buyers play an important role in buying properties. Secondly, International education supports job creation, especially in Australia. The Group of Eight Australia (GEA) (2014, p.5) highlights that every 10 International students could create 2.9 jobs for local people, in order to improve local people’s income and living standards. Similarly, National Association of Foreign Student Advisers (2013) point out that America has 819,644 International students and in 2012 to 2013, International students support 313,000 job creations and contributed 24 billion dollars to the U.S. economy. For example, last year American had 6.2% increase in job creation and a nearly 10% increase in dollars contributed because of International students (National Association of Foreign Student Advisers 2013). Therefore, it is clearly that education has the positive effect on local the economy due to real estate demanded and more job creation.

Second reason of globalization raises people’s living standards is that globalization provides a better health services. First of all, health policy dramatically improves people’s living standard. With more people care their health in daily life. Huynen et al. (2005) state that the World Health Organization and World Bank play an important role in global health governance because health policy can improve people’s income and raise living standard. Furthermore, health policy not only affects the economy, but also influences foreign policy. Secondly, medical technology improves standard of living. As globalization blurs the line between domestic and foreign health agendas, so that government can interact in worldwide. Sharing latest medical technologies and research findings could reduce the chance of disease in global wide (Huynen, Martens and Hilderink 2005). Especially, controls of pandemic diseases such as, HIV/AIDS and SARS (Owen and Roberts, 2005). Thus, health service improves people’s living standard by set up health policy and share medical technology in global wide.

Third reason of globalization raises people’s living standards is that globalization can facilitate the trade of material goods make lower prices for people’s daily life. With more global trade, domestic enterprises have impact of foreign companies. Reducing goods price is a common way of business competition (Economics Help nd). With the same amount of income for people they will benefit from the products price reduction. Similarly, Pettinger (2012) states that production increasingly becoming specialized. Different companies produce the different components of a product. In some way, it reduces the time and cost to produce a products. As the workers have high proficiency with the work they are doing. This is great way of reducing the average cost of production, lower prices for consumers. Another way, globalization enhances the trade of material goods is its mobility. Held et al. (1999, p. 171) point out that global market has emerged for many goods, number of export goods from developing countries increased accordingly, such as manufactures. Exportation and importation make the countries linking more closed as it is not only share the products but also share cultures. Moreover, Pettinger (2012) reports that local businesses can produce an advantage, there will make an export market. Therefore, it is clearly that globalization promotes trade in goods and lower commodity prices, so that consumers get more benefits.

In conclusion, globalization positively impacts on improving people’s living standard. The globalization facilitates International education. It provides benefit for real estate industry and creates more job opportunities. In addition, globalization provides a better health service in setting up effective health policy and sharing latest medical technology. Moreover, the globalization provides a better trade environment for many countries as they can share their goods which can facilitate economic development. Therefore, globalization raise people’s living standard in the aspects of International education, health service and material goods.

Word count: 1033

References
Economics Help 2015, Benefits of Free Trade, Economics Help, viewed 16 June 2015, <http://www.economicshelp.org/trade/benefits_free_trade/>.

Gauder, M, Houssard, C & Orsmond, D 2014, Foreign Investment in Residential Real Estate, Australian Government, Unknown.

Group of Eight Australia (GEA) 2014, International students in higher education and their role in the Australian economy, GEA, Unknown.

Held, D, McGrew, A, Goldblatt, D & Perraton, J 1999, Global Transformations: Politics, Economics and Culture, Stanford University Press, California.

Huynen, MTEM, Martens, P and Hilderink, BMH 2005, The health impacts of globalisation: a conceptual framework, Globalisation and Health, viewed 19 June 2015, < http://www.globalizationandhealth.com/content/1/1/14>.

Marginson, S 2010, ‘International students left in the shadows’, The Age, 28 May, viewed 15 June 2015, <http://www.theage.com.au/it-pro/international-students-left-in-the-shadows-20100527-whj1.html>.

National Association of Foreign Student Advisers 2013, International Students Support Job Creation and Contribute $24 Billion to U.S. Economy, NAFSA, viewed
17June 2015, <http://www.nafsa.org/Explore_International_Education/For_The_Media/Press_Releases_And_Statements/International_Students_Support_Job_Creation_and_Contribute__$24_Billion_to_U_S__Economy/>.

Owen, WJ and Roberts, O 2005, Globalisation, health and foreign policy: emerging linkages and interests, Globalisation and Health, viewed 17 June 2015, <http://www.globalizationandhealth.com/content/1/1/12>.

Pettinger, T 2012, Costs and Benefits of Globalisation, Economics Help, viewed 17 June 2015, <http://www.economicshelp.org/blog/81/trade/costs-and-benefits-of-globalisation/>.

Property Observer 2011, How Australia's changing demographics are affecting the property market for investors, Property Observer, viewed 10 June 2015, <http://www.propertyobserver.com.au/forward-planning/investment-strategy/economy-and-demographics/14513-how-australias-changing-demographics-are-affecting-the-property-market.html>.

Switzer Home Loans 2012, How overseas students affect the market, Switzer, viewed 21 February 2012, <http://www.switzer.com.au/the-experts/john-mcgrath-property-expert/how-overseas-students-affect-the-market/>.