The comic above highlights many of the negative side effects of globalization; jobs go abroad where the price of labor is cheap, and US plants go out of business. The people in Vietnam and Indonesia are making literal pennies to the dollar that US workers would be making, and it is forcing jobs out of the States. Globalization, and the globalization of trade need serious reforms, especially when it comes to human rights and equal pay across the globe. However, globalization does have positive effects.
To put a twist on the old adage, states that trade together, stay together. The trade relationship that is being developed between the two nations allows for them to build a relationship that will go further then trade, there is the potential to develop a deep rooted peace between the two nations because the economic benefits of remaining allies outweighs the potential benefits of war. There is a theory known as the Golden Arch Theory, and it argues that any two countries who have a McDonalds within their borders will not go to war. This has held true with only one exception: the Russian invasion of Ukraine. The peace that can be built from the furthering of trade has contributed to this being the most peaceful time in history.
The globalization of jobs has also allowed for countries to experience a specialization of their markets in high paying, innovative jobs. Meaning, the more a country like the US sends jobs abroad, the further chance the US has to advance their specialization in jobs that pay more. This hurts the economy and the perception of globalization for a several decades as the economy takes time to adjust to the change in market demands. However, this can allow the country to make more money as well as make more technological advances.
Hey Ben!
ReplyDeleteI really liked this blog post! I thought you did a great job of outlining the negative ways in which globalization can be viewed, but also your own views on why it is positive too. Overall, we tend to think of globalization as a good thing, but unfortunately for people who have lost their jobs to globalization, it is not. Luckily, we have the opportunity to specialize in jobs here, but for them it could be too late so I can see why they would resent globalization. I agree with you completely that the globalization of jobs to countries who don't consider worker rights needs quite a bit of reform too. Overall though, I would have to agree that globalization is a good thing. It makes us more aware of people who are different than us and it gives a lot of access to goods we may have not had otherwise. Thanks!
Marissa Jordan