This isn't a choice between foreign-owned factory or a locally-owned factory.
This is a choice between a foreign-owned factory or no factory.
Also, why would you expect the profits to stay inside? If Nike opens a factory in Bangladesh, wouldn't the profits go to Nike? I don't understand your "local profits" statement?
And the jury isn't out on the benefits of neoliberal globalization. It's been shown to clearly reduce poverty among the global poor. It's why Bangladesh went from 41% extreme poverty to 14% extreme poverty over the last 25 years...
In Bangladesh citizens own a factory then Bangladesh benefits much more then if Nike owns a factory. By "Local profits" I meant when locally-owned factories operate more money is kept internally then when foreign-owned factories run.
Globalization as a whole benefits most people, and this is not up for debate. I will agree with that statement.
This is a choice between a foreign-owned factory or no factory.
Also, why would you expect the profits to stay inside? If Nike opens a factory in Bangladesh, wouldn't the profits go to Nike? I don't understand your "local profits" statement?
And the jury isn't out on the benefits of neoliberal globalization. It's been shown to clearly reduce poverty among the global poor. It's why Bangladesh went from 41% extreme poverty to 14% extreme poverty over the last 25 years...