Globalization : America 's Biggest Threat And Opportunity

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Tyler Meagher International Economics Dr. Fox April 28, 2014 Globalization: America’s Biggest Threat and Opportunity What is Globalization? Globalization, defined as “a process that aims to expand business operations on a worldwide level, and was precipitated by the facilitation of global communications due to technological advancements, and socioeconomic, political and environmental developments” has been around for ages. However, it is a force that is becoming increasing more relevant in today’s world. In layman’s terms, globalism is the merging or “melting” of individual perspectives and markets into a more global market. As of recently, society has been obsessed with studying globalization. However, the conversation is rarely economical. Globalization is typically looked at as a social or cultural force that is shaping and connecting the world. This is scene in clothing styles, human travel, and popular culture that has become increasingly similar across nations. That sentiment isn’t wrong-globalization does have a cultural side, but many people are missing the economic impacts that this new world is facing. In fact, the economic implications of globalization and how governments legislate to control them leads to significant opportunity, but also huge threat globally. Let’s Talk About the Basics Before one analyzes into the implications for a specific country, it is vital to grasp the effects on a more general level. First, there are three main economic perspectives
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