The Effects of Globalization on the United States Economy
The United States is scaling itself successfully, and also to its own detriment. If you consider how well advanced we are as a nation, through features like the internet and our access to other cultures in how we work with others around the world, as we continue to expand into different areas, and we take our markets and resources with us, on the one hand, it can be beneficial as we grow and expand, but we can also find that it works to our disadvantage.
BENEFITS TO OUR EXPANSION EFFORTS
Areas where globalization is beneficial for the US include how we work with other countries. If you look at countries like Brazil, China, India, Russia, i.e., the BRICs, and more, you can see how as we've taken our ideas and marketed them in different areas like these, and we are importing and exporting more, it's helping us to develop better as a country as it relates to manufacturing.
Look at China, for example, and how they want to utilize the iPhone in China. Look at companies, stores and restaurants as they move into areas like China, Japan and India. You have stores like KFC and McDonalds that have set up in these locations, and offer their own exotic fares along with the staple menus that we have in the US.
A DETRIMENT TO OURSELVES
As other countries enjoy our ideas and work to mirror them, they can also steal from them to their advantage. In this manner, the effects of globalization as it relates to our economy can be a detriment as we expand globally. If you consider for example, how countries mirror the work that we do and use it to their advantage they actually take jobs and great ideas away from us. If you look at a country like China again, consider how they have pirated a lot of information that they have taken from the US. They pirate software, electronics, games, movies, clothing, make-up, shoes, designs, and so much more.
Or look at employment. In areas where we need manufacturing, warehouses, and plants, other countries use their resources on a global scale to their advantage, and at our detriment. For example, India, Russia, Mexico, and China, all have areas of cheap labor, that they use to employ people in an outsourced manner and sometimes sweatshop labor that takes away from jobs in the United States, so while we're expanding, we're also contracting in other areas that are hurting us as a country.