In some way, shape or form, globalization greatly impacts our day-to-day lives and it is due to globalization that I have been able to try a wealth of new and diverse products. Globalization features in my daily life when I buy Starbucks coffee in the morning, drive to work in my car, or use my Microsoft computer at work. For example, the Starbucks coffee beans could be harvested in Brazil, packaged in China and sold in the U.S. Even the Microsoft software I use every day here in the U.S. could have been developed and improved in the Beijing Microsoft research lab. All of this globalization is driven by industry imperatives to grow, to be more efficient, and to improve the intellectual base of the company.
My near family resides in the U.S. and most of my extended family lives in India. The advent and globalization of apps like WhatsApp and Skype worldwide has allowed my near family to have more frequent and high-quality communication with my extended relatives. In addition, globalization has introduced my extended relatives to popular chains like WalMart, Best Buy, Starbucks and McDonalds with more of such stores opening worldwide.
Although globalization is omnipresent and greatly contributes to the growth of the industries, it has not been good for the US since jobs are lost and transferred to lower cost countries. According to conservative estimates by Robert Scott of the Economic Policy Institute, “granting China most favored nation status drained away 3.2 million jobs, including 2.4 million manufacturing jobs” (Collins 2015). He attributes the net losses due to our “trade deficit with Japan ($78.3 billion in 2013) at 896,000 jobs, as well as an additional 682,900 jobs from the Mexico –U.S. trade-deficit run-up from 1994 through 2010” (Collins 2015). Overall, globalization has led to the benefit of other countries.
Collins, Mike. “The Pros and Cons of Globalization.” Forbes Magazine, May 6, 2015. Accessed July 11, 2017. https://www.forbes.com/sites/mikecollins/2015/05/06/the-pros-and-cons-of-globalization/ #1ed0b662ccce.