Advantages And Disadvantages Of Globlization
Essay Preview: Advantages And Disadvantages Of Globlization
Report this essay
A global shift has made considerable advantages and disadvantages on society today. With the increase of American businesses moving beyond national markets to other markets around the globe in order to increase their financial bottom line there has been a rapid decline in national jobs. A particular advantage of globalization is the opportunity of free trade and the result on the global economy. However, the disadvantage is the destruction of local jobs, markets and forced movement of people. In order for globalization to continue in America, there must be a system to maintain the economy without causing the government and people to suffer. Recently, employees of Bosch Corporation experienced the effects of globalization when the company outsourced labor and resources to India.
Thomas Friedman mentions in his essay, “The Super Story”, “The world has become an increasingly interwoven place, and today, whether you are a company or a country, your threats and opportunities increasingly derive from who you are connected to.” Without globalization importing and exporting wouldnt be a concept. There would be little to no market, and therefore societys way of life to make the finest products available at the best prices would not be conceivable. Having a higher standard of life because of globalization, and travel has become common, whether its for business or pleasure.
The disadvantages are easy to see by looking at occurrences that happen all over the world. Political decisions, weather catastrophes, wars, and many other things, no matter where they happen, seem to affect jobs, economy, and even gas prices. Where the labor market has not stabilized in America, unemployment rates are rising, and this is not particular to just America; the same conditions have been documented in many countries, regardless of their development stage. Americans must be mindful of the shifting environment. Due to the lack of jobs and increase of the cost of foreign