Globalization Of The United States

That this was also the decade in which globalization came into full swing is more than a minor inconvenience for its advocates” (Rodrick). If globalization is supposed to present an advantage to developing countries, why have there been so many setbacks? Indeed, both sides will have its winners and losers regardless of which side of the development coin they live on, but for the most part globalization has lifted millions out of poverty, improved the standard of living, and increased life expectancy rates all while keeping developed nations relatively competitive to their developing counterparts. Globalization’s value is that it seeks to create an economic equilibrium in the world, where parties are free from barriers and can benefit from one another through a more efficient allocation of resources. This allows all participating nations to contribute to an integrated economy and where all nations willing to embrace globalization have the potential to benefit. Regardless, the path to successful integration to the global economy has not always been easy. There is contention towards globalization as some argue that it is detrimental to developed nations, while many developing countries that were forced to hastily open up their markets and integrate failed. However, if implemented properly, globalization has proven that it can benefit all parties involved and that the potential gains outweigh the losses.

It has become increasing undeniable that the process of globalization is present, and a strong force in the international market. “Globalization”, according to the Merriam-Webster dictionary, is defined as, “ the development of an increasingly global economy especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets”. Before the start of the 1990’s, the United States had little competition in the international marketplace, and was as strong as ever. Globalization has opened the international market to cheap land and labor outside the United States. Corporations and businesses have outsourced many jobs from the United States labor markets, at the expense of United States labor. One of the biggest questions facing America today is if it is ready for Globalization. I believe that we are not ready for a variety of reasons, but there are a few that stand out in my mind. The top factors concerning the U.S. are ineffective nature of Congress, U.S. national debt, and overseas outsourcing.

Contemporary globalization is an exceptionally multifaceted phenomenon and can be defined as "an intensification of cross-national cultural, economic, political, social and technological interactions that lead to the establishment of transnational structures and the global integration of cultural, economic, environmental, political and social processes on global, supranational, national, regional and local levels" (Huynen, Martens & Hilderink, 2005). The very nature of the American society has experienced insightful and compound changes due to globalization that has brought with it both new opportunities and risks. Similarly, the impacts of globalization

The world we live in today is going through enormous changes in economics, technology, culture, politics, etc. The effects of the changes are not so clear, since it is hard to predict how each sector would affect the other and how society will be affected. However, analyzing past and present occurrences provides some information for experts to interpret society’s reaction in the future to different transformations. Globalization can be seen as a process in which societies around the world come together and expand through the combination of different forces. This paper will explore the effects of globalization on US companies, US society and economy, and the implications for other countries in the post-industrial world.

Globalization impacts every area of American life: from the products we buy to the way we do things. One of the ways globalization affects individual communities is by making those communities more diverse. Globalization makes the migration of people, as well as products and stores, more possible. There are some negative aspects of globalization. For example, globalization makes it more likely that we will see less variety of stores. The proliferation of the same stores in every neighborhood, even throughout the world, makes for a more homogenized society. I see a Starbucks everywhere, as well as McDonalds. One impact of globalization that has both pros and cons is that English has become the predominant language. English enables people from different countries to communicate, but it also means that people in the English speaking countries have an advantage.

So far Thomas Friedman has identified three eras of globalization. Globalization 1.0 lasted from 1492 (when Columbus set sail to the ‘new world’) to 1800. Friedman describes this as when we “shrank the world from a size large to a size medium” (9). This era began discovering new lands and set up trade with outside civilizations. Globalization 2.0 lasted from 1800 to 2000 when the world transformed to a “size small” due to the industrial revolution and the expansion of multinational corporations. And finally, globalization 3.0 when the world went flat because of remarkable technological advancements. Other nations, including those in the third world category, are finally able to access vast amounts of knowledge, and their previously closed off economies are now open to provide more work for their people. The economies of these nations exploded from a large labor force and exportation, but the American economy didn’t do as great. From 2000 to 2014, the share of adults living in middle-income households fell in 203 of the 229 US metropolitan areas. Global commerce has been dominated by transnational companies that do not care for individual countries, but rather cheap wages and productivity, which undeveloped nations have. Jobs that require high school diplomas, or are plain simple, are either sold off to another country or automated. Automation is the replacement of human beings with robots or machines in order to reduce salary expenses and

Globalization has led to a growing gap between those who have access and opportunities by which to thrive and those who do not. There are now 793 billionaires (as of 2009)—representing an essentially unimaginable amount of wealth. At the same time, there are millions of workers laboring in conditions we would likely consider inhumane, and doing so for starvation level wages. And still, there are those who do not even have access to jobs whose conditions are even worse. Globalization can benefit some but leaves other nation further and further behind.

US globalization changed not only the United States, but the world, since anybody can sell to anyone, anywhere in the world. It has opened opportunity to many people across the globe that would have never been able to have a successful business without it. Another way it has changed is in the way people communicate with each other. People can immediately talk to somebody in another country, or post to a social website, reaching many people at once and instantaneously, globalization has definitely made the world a lot smaller.

However, jobs are transferred to those lower labor cost countries which have access to global markets and can export cheap goods. Friedman explains, “Once people get a taste for whatever you want to call it—economic independence, a better lifestyle, and a better life for their child or children—they grab on to that and don’t want to give it up” ( Friedman 170 ). People in developing countries are benefitting from the economic prosperity. Their income is going up, their living standard is rising, and they have full confidence in the future. Would they like to give up what they own now? Certainly not. Similarly, Marantz is also aware of the rise of income that globalization realizes. “He impressed coworkers with his American accent, and when he got his first paycheck, he tasted the liberating power of disposable income” ( Marantz 289 ). Employees can earn around five thousand dollars per year, which is more than five times the per-capita income. Therefore, they are able to dispose their income freely and consume whatever they want. Both Friedman and Marantz mention the economical benefits that globalization brings about, but they neglect the negative effects globalization exerts on developed countries. People in developed countries like the united states are confronting more pressure in finding jobs, due to the relatively lower labor cost in developing countries and the currency exchange rate, which make people in those countries more competitive for the job. Even if they have jobs now, they are still at the risk of dismissal Globalization promotes global economic growth, creates jobs for some countries, and lowers prices for consumers, because the opportunity cost for each products decreases by means of collaboration between countries, but it doesn't match the decline of wages among some people and will not offset the

During the last decade of the twentieth century, the word ‘globalization’ has become an increasingly prominent feature of political, social, and economic discussion in academic and policymaking circles, as well as in the media. The processes and outcomes of globalization drew attention and debates that had one thing in common. The research shows that nearly everyone agrees that globalization is a trend that is changing the face of the world, and as a result the world society lives in a more ‘globalized’ world. Nearly two and a half decades passed since 1990s, and studies have been conducted to examine the causes and consequences of globalization. Moreover, nearly every person experiences some type of globalization and can testify firsthand the effects it has on their life, society, and the state. The analysis of the effects that globalization dynamics have on the world society indicates that globalization has a significant positive impact via spreading opportunities and wealth across nations, stimulating innovation and productivity, enhancing the economic development of poorer countries, and helping to improve living standards.

‘Globalization: What’s new? What’s not? (And so what)’, portrays the speed in which globalism has increased through many different factors; economically, military, environmentally and socially. This is an idealist analytic approach, not set in stone. This leads on to

Globalization can be seen as a major threat for manufacturing jobs in the developed world, however, can also be a benefit for developing world citizens who receive thousands of jobs a year although they don’t receive a high salary. Maurice Allais, a French economist states that this unemployment, of course, has only been able to develop because of the existence of low salaries and insufficient flexibility in the labor market (April 10th, 1999). This indicates that globalization has jeopardized Western countries jobs because companies are moving their establishments to developing countries where they don’t need to pay employees as much and where land is cheaper so overall businesses benefit from this. Also, employees in the developed world are at risk of becoming redundant as they are susceptible to face pay cuts in jobs. Employees are less skilled in the developing world as they don’t receive the benefit of an education like developed countries do. So a company may want to build factories in these countries because environmental laws aren’t as strict. Establishments in these areas provides promising jobs for the local people and allows them to learn new skills, however they are set on minimum wage which in developed world countries, this would not be enough to live on, wherein third world countries this is still a low amount so this is not enough to bring them out of poverty meaning that the only one who benefits from this is the company. Although there have been several arguments against exploitation and oppression, the majority of developing countries do not have existing laws which take minimum wage

“Globalization is not just one impact of the new technologies that are reshaping the economies of the third millennium” (Thurow 19-31). When speaking of globalization, most people will not have a complete understanding as of what it actually means or what aspects of the world it affects. Globalization promotes free trade and creates jobs. The capital markets attract investors, resort cheap labor, and leads to job losses in some areas of higher wage. While all of this is happening, the world economy is being effected: economically, culturally, socially, and politically.

Across the world, globalization is one of the most significant aspects that has occurred over the last fifty years. It allows a country to integrate economically with other countries through a global network comprised of people, trade, and transportation. With the global landscape only becoming more intertwined, globalization and its inherent pros and cons seem to be here to stay. In many areas, global powers tend to lack in rectifying the negative aspects and only focus on the positive side. America, for example, is a leader in the globalization efforts, even though it has greatly effected job opportunities at home, widening income gaps, and an increased standard of living due to fluctuating world markets.

“Globalization is today's reality. Like it or not, the move to a world economy is a fact of life. At some point in the 1990s the process achieved critical mass and people started to sit up and take notice. Many were apprehensive.