Impacts Of Globalization

Improved Essays
The impact that globalization has, and will have, on the U.S economy continues to be one of the most debated economic issues of our times. Many people believe that due to the international trade there are less jobs and lower wages for people. However international trade is important to the American economy and to the economy of the world as whole because neither the United States nor any other country in the world has everything that its people need and want. This fact alone makes trade necessary. If every country in the world had resources sufficient to meet its people’s needs and wants, there would be less of a need for trade however countries do not have such resources. For instance, japan does not have oil. The United States does not …show more content…
The United States is the world’s largest exporter of goods and services. According to the U.S. Department of Commerce U.S. exports of goods and services reached $2.345 trillion in 2014, like trade, international investment is critical to American jobs and affordability. In addition to exporting, U.S. corporations can access new customers in foreign markets by investing abroad, creating foreign affiliates and becoming multinationals in the process.
In the end, we cannot turn our back on international trade. It is an unavoidable part of the world in the 21st century. We simply need our elected leaders are more open to foreign markets so that U.S. companies can sell more of our goods and services overseas. International trade can provide a path to jobs and wealth. The three question that I am going to examine in this research paper is that how international trades or international investments are good for America economy and how these international trades have positive impact on the job market of the U.S. How is outsourcing to china is good for US economy.
Annotated
…show more content…
Trade and Investment Policy. New York: Council on Foreign Relations, 2011. Print. In this book they argue that one of the most effective ways to create new jobs and reverse the income decline for the United States and to become a successful trading state. The growth of global trade and investment has brought significant benefits to the United States and to the rest of the world but U.S. management on international trade has diminished in recent years because of deep domestic political divisions over trade policy that arise largely from the very real economic difficulties too many Americans face, acknowledges the task force. The work force warns that the political tie has already harmed U.S. interests and will do more if it remains unresolved. Unless the United States develops and sustains a trade policy that produces greater benefits for Americans in job and wage growth. It also offers recommendations for trade and investment policies the United States should adopt that will help to create jobs and raise incomes for more Americans while also advancing foreign policy interests. I am going to use this book as to how the global trade and investment has benefited the United States and creates more jobs for people and also makes the US economy

Related Documents

  • Great Essays

    From the business point of view it is important to understand that outsourcing is part of globalization, and it benefits the company’s efficiency and it saves money in labor. Many Americans believe that outsourcings hurt Americans economy and are against the idea of taking Americans jobs to other countries. Bryson, a global economist for Wells Fargo said: “When jobs move from a factory in the South to one in Guatemala or China, it certainly has a negative impact on that community in the short run…But in the long run it makes things more efficient." (Hargreaves, 2012) And in fact it might make things more efficient for the company because it is relatively easier to establish a business in China than in the United States, however it is inedible to ignore the impact in American workers. “Over the past decade data from the United States Department of Commerce show that U.S biggest companies that employ a fifth of American workers reduced their work forces by approximately 3 million jobs while increasing employment overseas.…

    • 1324 Words
    • 5 Pages
    Great Essays
  • Great Essays

    Why should we care? Everything from what we do to how we do has an impact on the way economics affects our lives. Since large corporations have such a large impact on the economy, and Americans as a whole depend on the economy, the reliability of these corporations on immigration indirectly impacts our lives. Without immigration, the U.S. would not be what it is today. Finally, immigration can be a great push towards a better future with a little…

    • 1238 Words
    • 5 Pages
    Great Essays
  • Superior Essays

    An interesting perspective on globalization retrieved from Forbes Business Magazine (Collins, 2016, para. 19), “It is wonderful for managers, and investors, but hell on workers and the environment.” Globalization allows the rich percentage of the society to become wealthier while making the portion of people living in poverty poorer. Globalization lowers the price of products just enough for companies to break even as global competition pressures the price to be as low as possible but provide the highest amount of quality. Decreasing market prices force marketing teams to be as efficient as possible when reviewing products for retail to ensure quality is up to North American standards. The quality of living around the globe is not constant as the world is a diverse place with many different cultures.…

    • 1252 Words
    • 6 Pages
    Superior Essays
  • Improved Essays

    China is often used as a scapegoat for opponents of globalization who say the U.S. should increase tariffs or cut trade with China (by far largest trade deficit of the 100+ deficits the U.S. enjoys), but what these opponents fail to realize is that it is only because of globalization that the U.S. is able to continue growing right now. With the massive savings shortfall in the U.S. economic growth would not be possible without importing surplus savings from abroad and having these deficits. Globalization is good for the…

    • 729 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    While a big portion of globalization is dealing with trade, being aware of horrible issues like this is another large portion. Green energy is now becoming more widely available in the United States, but why is China not switching to protect their citizens and the environment? It is because the companies that are in China, and the companies that pushed jobs overseas are more worried about the profits than the wellbeing of the future and of the wellbeing of today’s…

    • 1042 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    A job loss in an industrialized country like the U.S. means a gigantic job gain in less developed countries, like Indonesia. And while we lose some jobs, the U.S. as a whole gains much wealth in the money we make by helping these other countries in need. Another common criticism is that globalization increases consumerism and negative cultural impacts. Yes, globalization increases consumerism, but is that an all bad thing? Consumerism is a sure sign of wealth, and when we contribute to a rise in this, we contribute to an end to poverty.…

    • 1085 Words
    • 5 Pages
    Improved Essays
  • Superior Essays

    Essay On Buying Americans

    • 1787 Words
    • 7 Pages

    Americans buying things from the United States greatly impacts the American economy. Buying American impacts the economy in more ways than people realize. Buying American can help save and create many jobs. Buying American is also a lot safer. In the United States, there are labor laws and also regulations about what the workplace has to be like.…

    • 1787 Words
    • 7 Pages
    Superior Essays
  • Improved Essays

    Before globalization existed, we were prone to many barriers such as "accustomed difference in national or regional preference"(Theodore Levitt, 1983). According to Theodore Levitt (1983), a company could sell an out of date model in a tier three country back in the days when there was no globalization. One of the positive factors which globalization brings to business is business purchasing impacts. Ken Burnside said that globalization makes the world 's corporation move to third world countries for cheaper labour, and these world class corporations tend to make higher profits as the cost of shipping the finished product overruns the wages and manufacturing costs. As the world gets globalized with more companies moving out to the tier three…

    • 763 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    economy: increasing the national taxes, expanding the job opportunities, and reducing the life burden. Immigrants may cause some short-term dislocations in the U.S. economy, but they cannot replace native-born workers or influence their life over the long-term. Economic instinct is to optimize resource allocation to achieve higher production efficiency, so economic globalization is inevitable phenomenon that causes the worldwide division of labor and collaboration. The U.S. government should not reject this global activity for a better economy, and it should properly utilize external resources because immigration itself is one of the most important global resources. Immigrants can bring a strong positive force in the economy and contribute in a lot of ways to economic growth, and they can also make America great…

    • 933 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Illegal Immigration One of the biggest topics for debate recently has been illegal immigration. There are many countries that are illegally coming into the United States but the biggest, and most talked about are the hispanics. Politicians are arguing that these immigrants are not a big deal and are actually helping the economy whereas others are saying that they are ruining the U.S. economy. Despite these few positive effects of illegal immigration the increasing amount of immigrants is a threat to both the economy and society. The positive effects of cheap labor and a boost of economy in depressed areas help the economy but the negative effects of high crime rates and the amount of tax dollars spent on public services threaten only the economy, but also the society.…

    • 1159 Words
    • 5 Pages
    Improved Essays