I was writing this paper for class... I did it in a hurry, and off the top of my head, because unfortunately I forgot about it due to having two other projects going on for different classes at the same time. How good/bad does it seem, out of curiosity? I have trouble actually believing that something written so quickly could have been any good...
Originally Posted by PaperGlobalization is a process by which the independent resources of individual nations become more interdependent as a result of reduced trade and communication barriers. This is primarily due in a technological sense to the increasing availability and affordability of cell phones, the Internet, and satellite communications. Politically, this is owed to increasing numbers of economic unions and free trade agreements.
The technologies that have made globalization possible have reduced communication barriers substantially. It now takes only a few seconds to communicate a message from one side of the world to the other via telephone, and the increasing use of the Internet in businesses has made cooperation between project teams in different parts of the world much more seamless, meaning there is far less delay and miscommunication resulting from such a widespread deployment. Increased availability of cellular telephones and portable computing devices that work as Internet appliances has reduced this even further, making people available virtually 24/7. The difference between working together in person, and working across vast distances is ever diminishing.
Globalization has had positive and negative effects on the economy of the United States. The positive benefits have been a larger marketplace for American goods, and increased availability of foreign goods and labor to American markets. The downside has been the loss of domestic jobs due to outsourcing, increased competition with foreign companies making it harder for American companies to keep up, and this combined with a tendency for imports to surpass exports creating a situation which increases national debt.
The political impacts of globalization include reduced trade barriers and increased interdependence of economies. This changes the nature of diplomacy by making embargo a more devastating and less plausible measure for two nations that reach a point of tension. One way in which the trade barriers are being reduced is via trade and political unions. In the United States, we have the North American Free Trade Agreement (NAFTA) which all but eliminated tariffs between Canada, the US, and Mexico, as well as reducing restrictions to border access, and synchronization of Intellectual property protections. The European Union (EU), which includes 27 European nations, is much broader in its jurisdiction. It instituted a common currency (the Euro), and even has representatives from every nation to decide on trade laws and policies that apply to all member nations.
These policies have the advantage of essentially “pooling resources,” but can also lead to shared economic trouble that would otherwise be isolated to an individual nation, although it should be noted that this is becoming less of a liability due to the implicit interdependence already being fostered by globalization. If these trends continue, it could lead to the implementation of an international government and currency, possibly under the jurisdiction of the United Nations. The largest disadvantage to this would obviously be reduced political independence.
One of the domestic impacts of globalization has been outsourcing of jobs, particularly manufacturing jobs. This has resulted in higher unemployment and increasing education and skill requirements to maintain a reasonable standard of living. It has also driven smaller companies out of business, given that foreign or larger companies that have the existing resources to outsource have an advantage due to foreign labor being cheaper than its domestic equivalent. Another negative impact of this has been the incentive for such smaller, domestic companies to use underpaid illegal immigrants as laborers, in hazardous environments, further reducing available jobs as well as the incentive to maintain adequate safety standards for workers.
There is also the question of the growing trade deficit. As a side effect of outsourcing manufacturing, more goods are produced in other countries, and thus more imported goods are purchased. The problem is that not enough exports are being created to make up the difference (in fact decreasing as companies outsource), meaning that the US essentially owes money to other nations, and is going deeper into debt without paying the money back. This may eventually result in the United States losing credibility in the international marketplace, and place us at a disadvantage in terms of trade as well as undermining economic stability.