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Globalization in Our Own Homes

Annie Bao

Globalization impacts every aspect of our daily lives, and probably without us realizing it.  From the clothes we wear to the computers we use to the cars we drive, we are constantly surrounded by the products and effects of the international trade and investment that drives globalization.  The cotton used in making a shirt could have been grown in Mexico, weaved in China, and sold in the United States.  Without globalization and cross-border trade, our goods could cost three times as much, and often even more.

Since my near family resides in the United States and all of my extended family lives in China, globalization has allowed for communication and travelling to be easier between the two countries.  Apps such as WeChat are released and available worldwide, so people in the US can easily share information and communicate with people in China as quickly and efficiently as they would with people within the US.

While many of the conveniences in our own homes can be attributed to globalization, some of the successes of the US economy on a large scale can also be accredited to the recent increases of globalization.  In the last 60 years, the volume of world trade has grown by 20 times. From 1997 to 1999, the flows of foreign investment nearly doubled, from $468 billion to $827 billion.  The growth of globalization has allowed for US companies to expand overseas and gave the US a greater influence on the rest of the world.

 

References:

SUNY Levin Institute: http://www.globalization101.org/what-is-globalization/

Business Insider: http://www.businessinsider.com/how-much-products-would-cost-if-made-in-us-2016-11/#iphones-1

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