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Globalization in the 21st Century

Globalization’s Role in the 21st Century

Brandon Basedow

Globalization has played an important role in the lives of many people across many countries, especially post World War II. For me personally, it impacts my daily life in several different ways. The Volkswagen I drive to work is German made, my Apple phone and laptop were both built in Asia, and most of the clothes I wear were not made in the U.S. I also have a general understanding of other nations, how their economies operate, and what they are capable of. This gives me a better understanding of my own nation and our world as a whole. For the most part, globalization has impacted my immediate family in the same or similar ways it has impacted me. They also consume many products that were either made by a company who outsourced their labor or by a non-domestic company altogether. My extended family, however, essentially experiences globalization in reverse of the way I experience it. My extended family that lives overseas consumes many products made in the U.S, which to them is globalization in the same way it is to me.

There are many different sectors of globalization, but overall, I believe it has been good for the U.S. Without globalization, we would not understand the people, technology, societies, and cultures of foreign lands. We would not have so many of the products we all know and love today and our economy would be weaker for it. According to economists from the Bureau of Economic Analysis, more than 50% of U.S. imports are not consumer goods, rather they are inputs for domestic producers. Free trade reduces input costs and grows the economy. Globalization directly impacts my life along with the lives of so many others, and the world we live in is better for it.

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