The Marxist approach, rooted in the theories of Karl Marx, focuses on class struggle, economic determinism, exploitation, and the inherent contradictions of capitalism. In the context of globalization, this approach remains highly relevant, offering a critical lens to understand the structural inequalities and power dynamics of the globalized world.

Marxists view globalization as the ultimate stage of capitalist expansion, where capital seeks to transcend national boundaries in pursuit of profit. This process, characterized by the free flow of capital, goods, and services, intensifies global capitalism and exploitation. Multinational corporations (MNCs) move production to developing countries with lower wages, weaker labor laws, and less environmental regulation, effectively exploiting a global proletariat. This leads to a 'race to the bottom,' where countries compete to attract foreign investment by lowering standards, benefiting capital at the expense of labor and the environment.

Globalization, from a Marxist perspective, also deepens inequality both within and between nations. While it generates immense wealth, the benefits disproportionately accrue to the global capitalist class (bourgeoisie) and developed nations. Workers in developing countries often face stagnant wages, precarious employment, and poor working conditions, exacerbating the gap between the rich and the poor. This uneven distribution of wealth and power is seen as an inherent contradiction of global capitalism.

Furthermore, Marxists argue that globalization expands the reach of market forces, leading to increased commodification and alienation. More aspects of life become subject to market logic, and workers become further alienated from their labor and the products they create. The approach also interprets globalization as a new form of imperialism or neo-colonialism, where powerful capitalist states and international financial institutions (like the IMF, World Bank, and WTO) impose policies that serve the interests of global capital, thereby maintaining the dependency of developing nations.

The inherent crisis tendencies of capitalism, such as overproduction and underconsumption, are not resolved but merely globalized, leading to more frequent and severe global economic crises. However, globalization also creates conditions for global class struggle, as workers and marginalized groups organize transnationally to resist exploitation and demand social justice.

While critics argue that the Marxist approach can oversimplify complex global interactions by reducing them solely to economic factors and class struggle, its relevance in highlighting the persistent issues of class, capital accumulation, and the uneven distribution of wealth and power in the globalized world remains undeniable. It provides a powerful framework for analyzing who benefits and who loses from global economic integration.