Effects Of Globalization: Globalization And The Effects On The United States Economy

2136 words - 9 pages

Globalization has affected every aspect of the business community in one way or another. Globalization in a simple sense is a business’s movement from one country to another. This is done for a number of reasons; amount of readily available resources, labor market, increased number of customers, and to ultimately become more profitable. There is a decisive advantage for a business to move overseas, but there are a number of drawbacks globalization creates on the local economy. When businesses become an international entity the home country experiences increased unemployment rates, the human resource department now has to manage across borders, prices of goods fluctuate, and forcing wages to decrease for unskilled workers and increase for skilled ones. To protect businesses and employees from unfair practices, various organizations have been created to enforce the policies set forth. Both international government organizations and non-governmental organizations play a vital role in enforcing the policies. It has been difficult to maintain a coordinated effort between developed and underdeveloped in terms of labor laws and tax incentives. Businesses will often seek out the locations where they can benefit the most.
Globalization is a term which holds a multitude of meanings. It has been defined as a phenomenon which has enabled individuals and businesses to seamlessly interact with each other without borders. Globalization displays increasing trade and investment following the disappearance barriers and the interdependence between states (Galateanu, 2012). Even though an agreed upon definition is difficult to obtain, globalization is the process which expands businesses across borders. It integrates the societies and cultures of many global regions into a single network of commerce. Globalization has allowed the expansion of many companies and businesses into remote regions of the world to take advantage of the various resources they contain. The idea behind globalization is to increase the profits of the business. In many cases globalization has allowed various companies to lower their operating costs by employing a cheaper labor force, locating less costly materials, and taking advantage of less strict policies.
Many individuals correlate the term globalization with the recent expansion of many United States based companies to overseas locations. Globalization has actually been occurring for many hundreds of years. Looking back to the first explorers, they can be defined as the ones who started the movement. The world has been witnessing a globalization process at least for the last four centuries (Ates, 2008). Globalization still remains to be a phenomenon which nobody can agree on a clear definition. It has been responded to as a movement from one country to the next, an expansion into a foreign region to reap the benefits of untapped resources, or merely a location which offers a broader range of...

Find Another Essay On Effects of Globalization: Globalization and the Effects on the United States Economy

Impact of Globalization on Indian Economy

1997 words - 8 pages globalisation on the growth of Indian economy so far. This may help us in taking future judgements and acting upon them. It is worthwhile reminding the reader that growth and welfare are not the same thing. Globalization can have positive effects on welfare without affecting the rate of economic growth. On the other hand, even if policies that confine globalization were to reduce economic growth, it does not follow that they would necessarily

Impacts of Globalization on Swedish Economy and Businesses

2124 words - 8 pages manufacturing as simplistic as possible while trying to enhance their innovation within their limitations. 2.2 Potential future impacts of Globalisation of the Swedish economy. Globalization has also raised concerns on quality of output such as Ericsson and their Joint venture with Sony to launch the Sony Ericsson. Ericsson is a Swedish brand, and their joint venture has lead to outsource their productivity of communication devices on the

The Impact of Minorities on the United States Economy

1865 words - 7 pages our economy would be in a bit of a slump, considering minority businesses contribute close to $1 billion. With the help of the United States Small Business Association, entrepreneurs are able to make a success out of their aspirations, which bring many new jobs for our society.Immigration has had a tremendous impact on the United States' economy as well. There are both positive and negative effects of immigration. Employers save money by

Immigration and Its Effect on the United States' Economy

1524 words - 6 pages Immigration and Its Effect on the United States' Economy The 1990s have brought the largest influx of immigrants into labor force of the United States of any decade in this nation's history. A panel of social science scholars concluded their assessment of U.S. society with the observation that "America's biggest import is people" and determined that "at a time when attention is directed to the general decline in American exceptionalism

Globalization and Welfare States

1508 words - 6 pages employment level. This view has its arguably reasoning but overlook at the function of supplying welfare is based on the premise of a prosperous economy and governments can have various policy instruments to protect the welfare of citizens. Embracing globalization and changing the focus of economic growth does not have to happen in the price of disappearing of ‘welfare’ states. In fact, various empirical researches and statistical data have shown the

Globalization: Disjuncture in the Global Cultural Economy

1359 words - 5 pages who work for a wage exist. Throughout a development of cooperative resist on the part of groups of people with similar economic situations, they argue that capitalism brings optimistic and pessimistic impacts into our modern society. Correspondingly, in the article “Disjuncture and Difference in the Global Cultural Economy,” Arjun Appadurai agrees with Marx and Engels’ argument on the cause of globalization, yet somewhat disagrees on a process

Markets, Politics, and Globalization: Can The Global Economy Be Civilized?

8279 words - 33 pages the virtues of participation in the global economy, are tedious, patronizing, and should stop.The real issues are more complex. They are matters of policy and are often politically difficult to resolve. They relate, first, to the terms on which countries and their governments can and should interact with the new global economy. These are not matters conducive to "yes" or "no" answers or slogans of the genre "Get on the globalization train or you'll

Case Study: Kanzen Berhad: The United States and AntiDumping Duties Globalization, international business, non-tariff barriers, and international trade issues.

1622 words - 6 pages , Japan, and Canada.In March 1993, several United States companies had filed an antidumping petition against the imports of welded stainless steel pipes from Malaysia. The petition claimed that certain products were being sold in the United States at dumping margins of 5.7 - 41.8 percent and causing material injury to the United States stainless steel industry. The dumping margins were calculated based on home market prices in Malaysia to other

A Review of O'rourke And Williamson's Globalization and History: The Evolution of a Nineteenth Century Atlantic Economy

4789 words - 19 pages , particularly the United States. Instead, America's exceptional growth stands out despite the globalization forces. For example, O'Rourke and Williamson's analysis of the effect of product and factor market globalization predicts a considerable convergence of British and American wages. Convergence of product prices--principally foodstuffs--raises British real wages by 20 percent, but has little impact in America (pp. 67-68). Labor migration has nearly

The Effect of The New Deal on United States' Economy in Crisis

2826 words - 11 pages economy of agriculture, and brought about a constitutional revolution.[19] Its most obvious and noteworthy achievement is its impact in bringing the United States out of the Depression. Roosevelt had shown that it was possible to overcome great problems and make beneficial changes in a nation's life through implementing his New Deal. He would lead the Americans on their quest to happiness and prosperity and the world was

Slavery and the Economy in the United States

717 words - 3 pages industrialized America that you see today.Reference PageJames, C.L.R. "The Atlantic Slave Trade and Slavery: Some Interpretations of Their Significance in the Development of the United States and the Western World." A Turbulent Voyage. 3rd Ed. Floyd W. Hayes III. San Diego, California. Collegiate Press, 2000. 58-82.Baron, Harold M. "The Demand for Black Labor: Historical Notes on the Political Economy of Racism." A Turbulent Voyage. 3rd Ed. Floyd W

Similar Essays

What Is Meant By The Term Globalization? What Are The Features Of The New Global Economy? What Effects As Globalization Had On World Trade And Financial Flows?

1259 words - 5 pages The global economy is the world economy. It reflects the total amount of economic activity which can be measured by GWP (Gross World Product) and PPP (purchasing Power Parity). PPP aims to get a more accurate method to compare the value of different currencies. This is done by focusing on the quantity of goods and services that can be purchased by one unit of the currency. For a global economy to exist there should be a rising share of economic

The Political Economy Of Globalization Essay

1180 words - 5 pages markets”. By accepting an increased volume of global trade, this government “embraced a neoclassical economy” (Mosely, 2007, p. 107); which states that globalization increases national interests. With increase of global trade, there is always a constant pressure for developing countries to adapt to economic openness; thus limiting control in certain aspects of the countries policies. Mosely seeks to argue the correlation of market openness and the

Globalization: A Powerful Weapon Of The United States

3751 words - 15 pages 24 May, Mubarak was ordered to stand trial on charges of premeditated murder of peaceful protestors and, if convicted, could face the death penalty.4 Today almost nine months after Mubarak was ousted the situation remains virtually unchanged the SCAF, which survives on 1.8 billion annual aid from the United States, has taken power but much remains the same. The revolution in Egypt was swift unlike in neighboring Libya or sister-state Syria

Major Effects Of Globalization Like Adapting To Changes, Lower Tariffs And Cheaper Labor Cost Make A Difference On Philippine Economy And Firms

2687 words - 11 pages Major Effects of Globalization Like Adapting to Changes, Lower Tariffs and Cheaper Labor Cost Make a Difference on Philippine Economy and FirmsA research paperPresented toJose Cristina Pariña, Ph.D.In partial FulfillmentOf the Requirements forENGLRES2012-2013Nikka Jennine L. EscoberAlejandrea A. LalataApril 1, 2013OutlineIntroductionAdopting to ChangesA. Technological developments1. Communication2. TransportationB. Internet as an agent of