Question

Present a positive and negative impact of globalization on the US economy

Answer 1

The Positive impact of globalization on the US economy:-

1). Immigration of more skilled labour like engineers and doctors from across the world who made the daily lives of Americans much easier.

2). Immigration of more unskilled labours from poor countries that have provided for cheap labour in the US for doing low-paying jobs.

3). More liberal international trade laws mean that the American products can be easily exported across borders without any troubles of high tariff and border restrictions.

4). Goods from foreign countries can be imported in America at cheaper rates, thereby providing Americans with a greater choice of products to choose from.

5). Constant communication with other countries has led to a better exchange of ideas in the field of science, technology and research.

Negative Effects

1). Excessive globalisation has led to an influx of illegal migrants, thereby leading to overpopulation of cities.

2). An inflow of more and more of unskilled labour has led to reduced number of jobs for an ordinary American, which breads a feeling of hatred towards the foreign community.

3) Has led to the easier trade of illegal commodities like drugs. This has, in turn, led to increasing crime rates.