Friday, May 12, 2017
Globalization.
People protested the World Trade Organizations because it was large corporations using globalization to make cheaper products by giving jobs overseas. This meant that people in America wouldn't have these jobs. Many Americans were getting college degrees and being unable to find jobs. This led to protest in Seattle. However, without globalization, products like phones and cars would be much more expensive. That leads to the question, is globalization better or worse for the everyday American. Does it make the economy better or worse?
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I think that globalization has a mixed impact on the lives of Americans, and that we should be willing to accept it, but be careful and think about the consequences of what we do before acting.
ReplyDeleteGlobalization takes advantage of poor foreign economies who have people willing to work more than Americans for a fraction of the compensation. The vast majority of companies are willing to have the menial labor accomplished outside of the U.S. (sometimes halfway across the globe) because of the aforementioned economy and the fact that global transport is cheaper and faster than ever before.
ReplyDeleteThe fact is that companies with overseas production don't care about the nation's economy as a whole; they only care about making money, and if having menial labor shipped overseas is more profitable, then they will do it.
About a month ago, President Trump was talking about enacting a tariff, implying that it would bring jobs back to America. This seems questionable, however, seeing as this would effect Trump, himself, as many of his and his family's products are manufactured overseas. If globalization does negatively impact the U.S. economy, the policies which govern it won't be changed anytime soon as long as those who became richer from them have high-ranked political positions.