Globalization is a part of my everyday life, whether I realize it or not, from the car I drive, phone I use and even the furniture I use, my life is affected by globalization. The car I drive on a daily basis is from a german manufacturer, BMW, the first European automaker to build a factory in the United States. This would not have been possible without aid from the U.S government, who helps businesses establish themselves in new markets through loans and grants that help fund business ventures. My life is mostly affected by globalization through the products I use on a daily basis. Governments that support business ventures through programs like loans and grants, allow consumers to have access to products from around the globe.
The effect globalization has had on my family is even greater than the effect it has had on me, where it mostly affects the products I use, my entire family consists of immigrants from Central America. Globalization, defined as the increasing, frictionless flow of capitol, labor, goods and services, without regards to the national boundaries, not only expedites the flow of goods but also increases human migration. As the disparity between standards of living from country to country increases, immigrants are attracted to new countries with the promise of stable, economic growth.
Overall, globalization has been highly beneficial to the U.S and it’s citizens. While allowing citizens to have access to cheaper products, globalization also allows U.S companies to export their products at a rate that was third best in the world in 2016. In 2016 the U.S exported $2.2 trillion worth of goods and services, almost 13% of that year’s GDP. Exports are steadily becoming a greater part of the U.S yearly GDP, a trend that wills surely persist in the future.
- “Bmw And The Globalization Of Its Operations Marketing Essay.” UKessays.com. 11 2013. All Answers Ltd. 07 2017 <https://www.ukessays.com/essays/marketing/bmw-and-the-globalization-of-its-operations-marketing-essay.php?cref=1>.
- Exports of goods and services (% of GDP)
- Kimberly Amadeo – https://www.thebalance.com/u-s-imports-and-exports-components-and-statistics-3306270