It is evident, the profits of U.S.-based companies have increased due to globalization and majority of it come from their foreign counterparts. Moreover, globalization has lowered the cost of several goods and services here in the U.S. Likewise, globalization has made it easier to produce more goods and increase services in countries where the costs are lower. Flexible accumulation in the United States has allowed for companies to move their production facilities and activities around the world and even within a nation in search of cheaper labor, and lower taxes, to accumulate as much as profit as possible. This is all fine for the companies and organizations who are gaining money, but not so good for the workers who used to work at these companies before they were offshored and outsourced.
Also, because of globalization international business grown, improved and removed a lot of obstacles when interacting with international markets. Then again, globalization can likewise be a significantly enhancing process, opening personalities to new thoughts and encounters, and fortifying the finest all-inclusive estimations of mankind. For the culture factor is like a code we as a human being live with. It also includes the arrangement of convictions, good values, conventions, dialect, and laws (or standards of conduct) held in like manner by a country, a group, or other characterized gathering of individuals. Globalization truly can affect anything in life both positively and negatively, but due to globalization people changed or because the culture factor changed or got affected by essence time.
Globalization VS Americanization Globalization is a continuous integration of free movement of goods, services and people around the world. Globalization can be considered because of the opening of the global economy and an increase in trade among nations. In other words, if those countries that so far closed trade and foreign investment opened their economies to the world, the result was a deepening interconnection and integration of the world economy. This is a briefly introduction to globalization. In other ways, globalization also means the free import of all nations and welcomes foreign investment in the main sectors of the economy.
From the pros of globalization that made it possible to trade freely with one another by eliminating restrictions imposed by the state on all exchanges that cross-borders which are also known by Economic Globalization . This made it possible for people to access new markets which is not in their countries, which allowed them to lower their costs as now they have a various selection of products to choose from (Pros and cons of economic, social and political globalization: is globalization overall positive for our societies?). Companies on the other side have customers with various needs all over the world , all of this led to greater benefits on both
The question is of utmost importance due to the fact that if the effects of globalization have not reached certain regions or areas of the world, then indeed, it will be easier to start the process of reversing globalization. ‘While the developing world as a whole is becoming internationally more integrated, the level and pace of integration vary widely across countries’ (Qureshi, 1996). However, even if access to the full effects of globalization is not felt everywhere, the awareness to the concept, phenomenon, policy and process of globalization is widespread and has reached almost all strata’s of societies. Awareness of globalization enforces the reality that globalization has become an irrefutable truth, and perhaps it can be contained and re-shaped to fulfill specific needs, but cannot be entirely reversed or be
Second it is said to create new jobs, make companies more competitive, and lower prices for consumers furthermore the prices are not always lowered because countries manipulate their currency to get a price advantage. Third, countries or countries that are less advanced and many third world countries are provided with technology, for a chance to encourage people in which democracy and respect for human rights grow, plus a chance to develop economically. It has majorly made a difference affecting every country, but since we are focusing in Asia, let's mention history and how it affects Asia's culture, communication thanks to different sources such as letters and technology, in travel Asia receives thousands of immigrants and they migrate as well, economy since most countries rely on their good exportations to outer countries and in politics since they all stand together to fight against terrorism and
One of the most important forces that drive globalization is technological development. As technology advanced it gave the means to break the barrier of time and space which in its turn helped the national markets to integrate without difficulties as they could now collect worldwide information. Furthermore communication has become easier as well as faster through internet as it allows messages to be sent and be received at the same time with no delays. Transportation improved and lead to faster traveling as it reduced the time but it increased the efficiency of transferring. “Advocates and critics of globalization basically agree on the big forces behind it: a great freeing up of trade and capital flows; deregulation; the shrinking cost of communication and transportation; an IT revolution that makes it possible for companies to digitize the boundaries between design, manufacturing and marketing and to locate these functions in different places; and the availability of large numbers of workers and engineers in low-wage countries.” (Suzanne Berger 2005
It affected and reached all life sectors such as economy, finance, tourism, culture, literature, and even agriculture. It has given some great services to the world. Globalization may have three main advantages, which are cultural exchange, increasing trade 's movement and scientific development. Globalization has contributed in canceling borders and achieving the cultural exchange between countries. The world was separated into countries and each one is isolated from the other.
Globalization is a small term after all, but has a broader definition acting as a catalyst to progress and growth transforming the world in general. The concept of globalization is not something new for most of the people as this is gaining momentum in today’s era. Globalization has resulted in interrelation and assimilation between world economies and business. Globalization in general has a significant role in advancements of a country and improving the lifestyle of people. In the business world, the benefits of globalization are not just limited to profit maximization, but also provide other advantages equipping business to carve a niche for itself in today’s highly competitive market.
Positive effects on culture: Globalization does offer more than rise the availability of foreign-made consumer goods and damage traditional producers, but as well increasing international trade in cultural products and services, for example movies, music, and publications. The extension of trade in cultural products is increasing the exposition of all societies to foreign cultures. This will definitely change the local cultures, values, and traditions. Yo-Yo Ma (2008) stated: “My musical journeys have reminded me that the interactions brought about by globalization don’t just destroy culture; they can create new culture and invigorate and spread traditions that have existed for ages.” (p.182) In other words, globalization offers the potential to enrich the world culturally. This potential draws a vision is multi-cultural will create a new global village, and leads us to acknowledge the gift that every culture has given to our world.