The Impact of Globalization
Stacey Ramsey
California Intercontinental University
Abstract
In this document, we will take a look at the positive and negative impacts of globalization, in an attempt to determine if globalization is good or bad. We will look into how globalization has impacted the world so far and try to predict what to expect in the future. Should globalization be controlled to reduce the impact of globalization?
The Impact of Globalization
Globalization describes the process of regional economies, societies and cultures that have become a part of a global network of businesses. Globalization can be as simple as a business ordering some of it’s material from another country or as complex as housing corporate headquarters in one country, maintaining factories is another, and receiving parts or materials from yet another. The possibility of globalization has increased with the availability and global reach of the internet. Technological advances have played a key role in the increase of globalization, these days even a very small business with just one or two employees can be globalized. Globalization does not only pertain to business but government as well. Politics plays a key role in the globalized business.
The increase of globalized business trade has created a global economy. This can have a positive impact on some countries and a negative impact on others. Countries with poor living conditions and poor wages experience an increase in wages and standard of living during the globalization process while the opposite is true for the countries that experience a high standard of living and high wages. Countries on both extremities of the living standard spectrum see the most dramatic economic changes, this is the reason for the current economic condition of the U.S.
There are several reasons for the increase in globalization over the years. The main reason is that labor and business operational costs are drastically cheaper...