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Globalization: The Growing Impacts on Society

As a college student, globalization plays a massive part in my daily life. Here at the University of Maryland, I can interact with so many different people from all over the world on a consistent basis. Many of my peers come from different places allowing us to share knowledge about various aspects of our cultures and communities. In addition to the sharing of knowledge and information, competition is fostered and cultivated in a way that causes everyone to improve.

Globalization has also had a significant effect on my family. A vast majority of my family is initially from Haiti, but in more recent times have spread throughout the world. I have family all over the U.S. from California to Texas, to Miami, to New York. I also have family in Sweden and Germany. Globalization has enabled my family the option of venturing out to different places in the world for a different life. My family is also becoming increasingly diverse with several family members marrying people from different backgrounds and ethnic groups, and I expect this to continue to happen with more globalization occurring.

I believe globalization has been good for the U.S. Globalization has enabled trade to occur with countries that can produce items more efficiently than we can, saving the U.S. money in the long run. This country the U.S. is trading with would be considered to have a comparative advantage in producing a good. For example, the U.S. produces oil, yet oil accounts for 7.8% of total U.S. imports. The U.S. is currently incapable of producing enough oil right now to satisfy its domestic demand, as it would require many years of research and development to find ways of extracting oil from reserves. Other countries can produce oil easier and cheaper.

By: Zacharie Dragenice

Sources:

http://www.globalization101.org/why-do-nations-import/

https://www.forbes.com/sites/kenroberts/2018/02/28/six-of-top-10-u-s-imports-are-also-top-10-exports/#110169172edb

 

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