1.Is globalization good or bad for USA? Review the following websites that explain different views promoted by each interest group. Answer the question with your original thoughts on the question. Use the websites and additional research to substantiate your answer.
BBC News: Globalization
The Unhappy Planet Index
KOF Index of Globalization
2.Select a region of the world. Research current events and discuss how economic, political, and social changes will impact growth in the region. Write a short summarizing your findings. ( AT LEAST 750 WORDS) THIS IS NOT A PAPER
Is globalization good or bad for USA?
The good aspect of globalization is the opportunities it creates. It is also about the efficiencies created because companies can communicate more effectively with their stake holders, be it customers, suppliers and partners. Companies can now sell in far off lands with as much ease as they do in their home country( Mourdoukoutas,2011). Money flows easily across international boundaries .
Globalisation has resulted in the emerging of the BRICS economies. "Rapid growth in the developing world is part of a 100-year process that is only halfway done", says Nobel Prize winner Michael Spence, author of 'The Next Convergence: The Future of Economic Growth in a Multispeed World'.
Third world countries have been growing steadily, capitalizing on human capital which was a key to their growth. By leveraging their human capital they have been able to create the infrastructure for economic growth.
What this also suggests that USA cannot play the dominant role that it has been used to playing, anymore as more countries will join them in the developed world. This also portends a positive economic growth for USA along with all these other fast growing economies. This wave will probably benefit USA the most. This is because USA is a flexible and innovative economy.
Large companies in the US like Walmart and Home Depot of the USA have been able to source products cheaply from countries like Brazil, China, India and Philippines.
Globalisation has resulted in more interactions between people from different cultures which is a good trend. However the negative issues that are raised are those of quality, labour laws, outsourcing.
Gobalisation is viewed as beneficial or detrimental, depending on the nature of business or situation. In an industry that is growing, globalization gives access to new markets. However, if globalization has resulted in a onslaught of competition, that has hampered growth of your domestic industry , then it is bad.
Here are some statistics on the US demographics that can affect US adversely, especially with golablisation( Carroll, 2011 ) bringing competition closer. -
1. 55% of the current U.S. labor force is 40+ years old.
2. 78 million baby boomers will exit the work force in the next two ...
The article looks at the impact of globalization on the US economy and also looks at how the triple disaster in Japan affected the country socially, politically and economically.