Question

In: Economics

Given your understanding of globalization (economics, social, cultural, and political), should we, the United States, head...

Given your understanding of globalization (economics, social, cultural, and political), should we, the United States, head toward being a more or less globalized country?

Solutions

Expert Solution

The US should continue being a more globalized economy.

It would be increasingly difficult to remain independent, though perhaps not impossible, since governments can value relationships with multinationals that have international expertise as a source of information and backdoor diplomacy. Whatever direction a company chooses, closeness to political power would be crucial, with relations between governments being even more important than they are today. Diversity of supply and distribution channels, as per best practice, would also be a major factor in success.

Everybody has their winners and losers and victories are always conditional. If a de-globalized world materializes, the winners among the multinationals will be those who have understood thie importance.There is a need to contemplate such a de-globalized world, given recent troubling signals to its effect. Even if this particular universe does not play out entirely, it has inherent value as a theoretical exercise to think about. It could, for one thing, build the momentum needed to take action to prevent us from going in this direction.


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