The Benefits Of Globalization

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“It has been said that arguing against globalization is like arguing against the laws of gravity” (Kofi Annan, Former Secretary General of the United Nations). Globalization has had and will continue to have a lasting impact on our modern every-day lives. While some United States citizens may not even be able to locate Beijing, China on a map, they sure do purchase many goods that were made there. Globalization is a concept with many meanings and interpretations that have made many people very confused which have led to increasing debates on whether this is a good or bad thing for our economy. Many economists agree that globalization “provides a net benefit to individual economies around the world, by making markets more efficient,…show more content…
American influence has been spread throughout the world. More markets have been opened for the US, allowing products to be sold world-wide. This, in turn, helps to keep the U.S. economy on top. On the other hand, Many American organizations and companies have outsourced their business to other nations where labor costs are cheaper. The costs of every day products we use have been lowered because of the outsourcing work to countries where labor is cheaper allowing the standard of living to increase for many. Technical and service-related industries have also been widely outsourced to other nations. Others may argue that this has also led to a decrease in employed, working Americans and long unemployment lines. American workers now need to compete with foreign workers who are willing to do the job for less money and often work in deplorable conditions. Another negative effect of globalization is that the United States now has a major trade deficit that now must be figured out and dealt with if the United States is going to remain the powerful nation it is. Communication between other countries and organizations can now happen in real-time due to technological advancements. It really is a small world now – because communication has become much easier. The ability to communicate in real-time was a positive asset for the United States in the situation faced during the 9/11 terrorist attacks by allowing leaders to communicate with allies as

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