Effects of Globalization on America
The effects of globalization on America are both negative and positive. However, positive effects of globalization on America moderately outweigh the negative effects. Most Americans agree that globalization has positive impact on the economy, consumers and American businesses. However, some Americans are of the view that globalization has negative effects on the environment and American jobs.
According to Josh Bivens, the EPI Research and Policy Director, labor intensive companies are off-shoring some of their operations in the developing countries. This has decreased labor demand in the United States. Subsequently, wages paid to non-college educated people has reduced due to globalization.
Globalization has also increased the demand for skilled, professional labor in the United States and capital. This has increased the income earned by college-educated workers in America. The result of this is a widening gap between the poor and the rich.
Trade between America and other countries has grown due to globalization. American businesses are able to trade with poor countries of the world. However, this has negative impact on the American workers. This is because the overvalued dollar makes imports cheaper while making exports expensive.
Due to globalization, investors have established firms in America. Currently, there are many jobs in America that depend on international trade or corporations. The number of foreign direct investments in America has also increased due to globalization. This has greatly contributed towards the globalization of the American economy.
Globalization has also brought different countries together. For instance, European countries are establishing economic ties. China is also establishing regional economic ties. These developments brought about by globalization give these countries bargaining powers that are bound to affect the U.S and how it does business. If the economies of these blocs suffer, the economy of America will also be affected.
Effects of globalization can also be seen in the spread of cultural ideas of other people in America. America is also spreading its culture in other countries. This includes spreading of the popular American films, television shows and music to other countries.
Globalization has also made the American pop culture to become a global culture. Today, people in different parts of the world are practicing pop culture as they see it in movies, television shows, music, and satellite broadcasts.
Globalization has also led to the spread of other cultural aspects of the American culture such as clothing and foods. According to Kim Campbell, the former Prime Minister of Canada, globalization has led to the spread of the American culture to a level where it appears that America has moved to the world instead of the world moving to America. This has made many other people to admire the American culture.
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