Answer to Question #295674 in English for Rosey

Question

ELT RESEARCH METHODOLOGY

“New global economy has brought opportunities for people and a new kind of slavery. Comment in favour or against this statement?"

Write your own views about the topic. Your comments should NOT exceed 200-250 words.

Answer 1

New global economy is opening up opportunities for many people providing business opportunities for their products, employment opportunities and areas to invest. It also increases global competition, which drives prices down and creates a larger variety of choices for consumers. Lowered costs help people in both developing and already-developed countries live better on less money. People are able move across the globe in search of well-paying jobs, better medication, better education, and civilization. 

There will be a new way of slavery that will emerge due to search for raw materials and markets. The smaller countries who have weak economies but have wealth of resources unutilized. Slavery plays a crucial role in the development of a world economy. Slaves provide the labor power necessary to settle and develop the New World economy. Slaves also produce the products for the first mass consumer markets: sugar, tobacco, coffee, cocoa, and later cotton.