Question

Globalization: Consequences for the U.S in the 21st Century Is the U.S. in a stronger or weaker economic and political position in the world because of globalization, or some of both? Why? What are the specific benefits to the U.S. from globalization? In what ways has globalization hurt the U.S.? How competitive do you think the U.S. will be in the "flat" world over the next several decades?

Answer 1

USA is in good economic and political position in the world. It has numerous economic and political benefits of globalization. I will mention some here. Globalization is a process of making world a united economy. And globalization has only benefited western economy like US by boosting its output. Globalization boosted the household income in the US. Now per capita income is more due to free trade. People are getting new opportunities for growth and development. Not just economically but politically also western economies has been benefited by globalization. As when countries get into the free trade and international business the government takes steps and measures to make sure that this trade can be done with out any hassle. Thus making relations between countries stronger.

Through globalization america maintains lead in the world economy. The globalization is an american invention so it knows how to stay at the top to sustain in the world market. Globalization creates jobs, opportunities for so many americans, especially high paid jobs.

But globalization has also negatively impacted us economy. Workers from developing countries which are usually less costly then native workers replace them thus causing the issue of unemployment for the us native workers. Thus they have to demand for less wages which makes their harder for them to run their house.

Seeing the trend of globalization increase worldwide USA has to be highly competitive from developing countries. Otherwise it can loose its top position in the world market.