Following the world wars, globalization has generally seen a steady rise. We’ve seen many technological changes in the world, everything from the changes to our transportation capacity to the migration of people around the world. The global economy is so much more interconnected and interlinked. We are experiencing globalization everyday whether we know it or not.
In my life, globalization constantly surrounds me from the metro transportation I utilize to the bananas I’m eating right now. I take the Metro everyday to get to my internship, which enables me to be efficient in commuting. Globalizations helps to facilitate the division of labor by increasing the mobility of millions of working Americans including my family and me. In addition, the banana I’m eating right now is imported from Ecuador which symbolizes how trade flows freely from different parts of the world. The “global banana industry generates around USD 8 billion per year” and is one of many factors that help the world economy run according to the Food and Agriculture Organization of the United Nations (“Banana Facts and Figures”). My father first arrived in the United States from India on a business visa to sell his leather products. By exploring out of India to another major economy, globalization is the prime force behind the free trade that my dad utilized. Businesses continue to expand from a single place and venture out to the world, thus expanding their capital. These things transform my family as well as my day-to-day life.
The United States has benefitted from globalization. Globalization has helped Americans get out of the Cold War, shaped America to be this innovator on a global stage, and the availability of various goods and services at reasonable prices. With the creation of GATT (now known as WHO), the free trade fuels US Economic Property according to the graph from the US Department of Commerce.
“Banana Facts and Figures.” Fao.org, FAO of the UN, www.fao.org/economic/est/est-commodities/bananas/bananafacts/en/#.W0QZKtJKhoU.