Question

Globalization Controversy
Discuss the pros and cons of globalization from the point of view of a leading economic power, such as the United States. Required-5 points possible.

Answer 1

Pros of globalisation from the point of view of a leading economic power such as the United States are as follows:

i) globalisation has helped America to become one of the superpower of the world .American firms are generally operated all over the world and earns huge money, and that money is spent back into the country.

ii) globalisation has led to investment of capital out from America to other country which has helped Americans to earn lots of money. This has certainly helped the economy to grow fast.

iii) globalisation has made it possible to discuss the global challenges which the world is facing like climatic change, terrorism, and sustainable development.

iv) globalisation has made exchange of Technology information education and different services from one part of the world to the other part of the world.

v) In the present world globalisation plays a very important role in the development of a nation in each and every aspect of life.

Cons of globalisation from American point of view are as follows:

i) Due to globalisation the interconnected economies of the world are getting worse off rather than better off. The wages have gone down the unemployment has increased the buying capacity of a consumer has decreased and there has been a serial harassment of Manpower.

ii) Brexit, latest crisis in Greece ,political crisis in Syria and threat to democracy are some of the indication that at the end of the day globalisation has led to some negative impact throughout the world.

iii) Globalisation has provided a platform to discuss the challenges but it's visible that there are dominance over the Global Institutions like WTO World Bank etc. Which leads to improper functioning of these institutions.

iv) Due to increased interconnectivity there are many adverse impact on American economy as the consequences of failure of other economy.

iv) Globalisation has the most threat to United States because globalisation has led to Losd of dominance of America in world market, which it used to have in the earlier days.