Question

Define globalization and explain its impact on the US. In what ways could the impact be seen as positive, as well as negative?

Answer 1

Globalization is the word used to describe the increasing interdependence of the world's economies, cultures and populations, caused by cross-border trade in goods and services, technology and investment, people and information flows. Countries have established economic alliances over many decades to promote such movements. But the term gained popularity in the early 1990s after the Cold War, as those cooperative arrangements shaped modern daily life.

Globalization greatly affected the citizens of the United States and the United States. Globalization has, in the first place, extended American influence all over the world. Globalization has opened up more US markets, which in effect helps American companies sell their products around the world. Multinational corporations have risen and their influence has increased enormously. Globalization also allows American corporations to be able to sell their goods outside the country and helps economically keep the nation "on top" or "close to top."

In a way, the world has become "smaller," as nations can interact easily in a certain context. This has affected the U.S. in situations such as the 9/11 terrorist attacks, as well as giving the U.S. the ability to communicate with allies as well as enemies in times of peace but also conflict. Globalization also allows Americans to buy cheaper goods, with lower prices. This is due to the cheaper labor which is making the drug. These cheaper prices allow Americans to increase their standard of living. While globalization has allowed prices in the United States to be lower

Globalization is a positive development, as new industries and more jobs will be created in developing countries. Others say globalization is negative in that it will force the world's poorer countries to do whatever the large developed nations tell them to do. Another point of view is that developed countries, including Canada, are the ones that could lose out because they are involved in outsourcing many of the manufacturing jobs that their own citizens used to do. Outsourcing is about purchasing supplies from outside markets by contract. That's why you may see many of your clothes with labels from developing countries like Malaysia, China and the Philippines where they can be made at a lower cost. Outsourcing critics feel no-one is winning with this practice.