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Globalization Good or Bad?

I believe that globalization is featured everywhere in my life. For example, what I cook and eat on the daily basis is influenced by the result of globalization. I go to Mexican markets, and Korean markets, in which provide foods from different cultures. In addition, furniture and other products that I used in the household are produced from different places such as South-East Asia, Canada and Brazil. Overall, globalization has given countries an experience of comparative advantages by others through exported goods.

In my opinion, I believe globalization has greatly impacted my extended family. Since my uncles, aunts, and grandparents all migrated to the U.S, they are used to their cultural preferences and societal normality from back home. With that being said, because of globalization, they are able to still enjoy and experience these pleasures. For example, referring back to the markets, my uncles, aunts, and grandparents can still get access to Asian ingredients that they used to get back in their country because of stores like H Mart, and Great Wall, in which get their products from exports from different countries.

Globalization has its pros and cons. But I believe that globalization has done more bad for the US. Looking at it in an economic perspective, third world countries benefit most from globalization like China. Since 1980, US manufacturing has 6 million jobs, and GDP dropped from 29 percent in 50’s to 11 percent (Collins). This is because labor in third world countries have low wage laws making labor cost cheap. Overall, US has been outsourcing our jobs to other countries, negatively impacting the US’s economic growth.

-Richard Zhang

Citation:

Collins, Mike. “The Pros And Cons Of Globalization.” Manufacturing.net, 17 Dec. 2015, www.manufacturing.net/article/2010/06/pros-and-cons-globalization.

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