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 (Sweeter Home Loans 2012). According to the Foreign Investment in Residential Real Estate (Gauged et al. 2014, p. 2) point out that compare with asses 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 dents increasing. Furthermore, Margins (2010) highlights that Australia had 632,000 International students in 2009, their spending on education and housing generated 17 billion dollars a year.
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Moreover, Property Observer (201 1) 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 (AGE) (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 81 9,644 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. % 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.
Hymen 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 peoples 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 (Hymen, Martens and Hollering 2005).
Especially, controls of pandemic diseases such as, HIVE/AIDS and SARA (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, Petting (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. 71) 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, Petting (2012) reports that local businesses can produce an advantage, there will make an export market. Therefore, it is Leary 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.