Globalization is defined as the process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology (Global, 2013). This description capsulizes the meaning and basis for the answers described below.
I believe that globalization is inevitable and unavoidable. With that said it is important to understand what globalization means for the world and for Americans. On a worldly basis, it allows countries to trade between other countries without as many barriers or restrictions as there once had been. Businesses are flocking to lower developed regions to attain cheaper labor and raw materials to produce their product for a higher rate of return. These countries/regions in turn have their people employed and ideally boosting their own economies. An opportunity which would not have been available if the business decided not to setup production there.
Technology has allowed globalization to flourish. It is not necessary to setup an actual physical business in a country to be competitive. Through the use of the internet it has become easy to obtain products from all over the world. This alone has opened a whole new perspective on globalization.
With all the positives that come from globalization, there are negatives as well. In some societies, globalization threatens the cultural and religious foundations of society. In both industrialized and developing countries, many people feel threatened, and are threatened, by the globalization process. A globalized economy presents a countless number of challenges, from protecting local cultures to protecting the environment to protecting local jobs.
For business Americans, globalization means being able to produce products abroad at a fraction of the labor costs it would be in the United States. As stated earlier, it also allows businesses to obtain different raw materials less expensively because they are plentiful in certain regions and less transportation involved. From a consumer standpoint, we have more options to purchase a product, usually at a cheaper price.
The average American may not feel as though they are directly impacted by globalization. Most are usually not either, unless their job is in manufacturing or non-service arenas. In the documentary we watched, from the interview with the dry cleaner, he didn’t think he was really impacted because who would ship clothing overseas to get it dry cleaned? This may be true but from a different standpoint, a member of the family may have just lost a job because of competitive labor across seas. The family that once was able to afford dry cleaning my not any longer, since it is considered more of a luxury item then a necessity.
As Americans we like choices to buy products at the most competitive price. To be able to have this option is largely due to free-trade brought on by globalization. We are all at least indirectly affected by globalism.
Globalization has its good points and its bad points. Overall, I think globalization is good for the economy. To be more forthright, I like globalization when it benefits me. I like getting my televisions, shoes, and clothing at cheaper