Economic Aspects Of Globalizing Politics

Globalizing Politics Globalization affects almost every single aspect of life for the citizens in the Mayor’s city. With respect to globalization, my area of expertise is the economic role that globalization plays in every aspect of the town. I will focus on will be the economic benefits our city would undergo if we allowed our city to globalize at an increased rate. Economic globalization can be defined as the “Intensification and stretching of global economic connections throguhtout the globe.”( Steger 9). However, even though our local economy would be improved there are also many drawbacks that citizens would be focused on. This could damage the self-sufficient mentality that our blue-collar citizens have developed over the years due to the large amount of immigrants coming in. This could …show more content…
. The boost in economic output is key for our small town but the side effects need to be fully evaluated to see if the positives outweigh the negatives for our community. The most notable, and important, aspect of globalization is the effect it takes on the economy. Globalizing has benefited most businesses that have undergone the transformation to become transnational corporations. In fact, forty-four of the top 100 GDP’s are transnational corporations, while the other fifty-six are countries (Steger 54). This statistic, from Steger, shows how vital globalization can be to a business looking to grow. One example of how globalization has helped transform and revitalize a stagnant economy can be found in the current change going on in Africa.