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Globalization, whether its effects have been positive or negative, is a fact of the current economy of the United States. The resources of the globe are so totally intertwined that it is near impossible to separate them. The capitalistic nature of the global economy is to blame. Every business in the world seeks to minimize costs in order to maximize profits. Because of this, there has been a shift in the global labor market. Trades that used to be the backbone of the American economy have been shipped overseas in many cases. Is this detrimental to the American worker? If you work in certain sectors of the economy, you would most certainly say yes. There are companies coming into the United States that are replacing these jobs and are providing more for their workers than any American firm would. This, truly, cannot be seen as detrimental.
Japanese car manufacturers provide many things that their United States counterparts do not provide. Any economist would argue that competition is good for any economy. The United States is used to being the big dog in the global market. In recent years, Europe and Asia have made a strong come back. With colonization no longer a part of the global economy, there has been a need for a shift. In this transitional phase, the wealth of the globe is being redistributed. American firms take their businesses overseas where they can pay their workers less and they can avoid restrictive legislation. In certain sectors of the market cheap, uneducated labor makes good business sense. What are the effects of the loss of these jobs on the American labor force?
The labor force in America is being forced to become more educated. The power of the American economy on the developing global economy is not in the manufacturing sector. Instead, it is in the highly technical and highly specialized fields that America remains strong. For those workers in America, globalization has been a godsend. Countries all over the world seek American engineers, scientists, and other highly educated professionals. To benefit from the effects of globalization, America must seek to educate its workforce or face defeat by Asian and European counterparts.
American exports still rival those of most major countries. The money coming into the country still surpasses that which goes out. As the prices of raw materials increase from countries in South and Central America and from other countries around the world, America will have to continue to reshape itself to remain competitive on the global market. Globalization is not a new trend. It has been around since the triangle trade was taking place in the Atlantic Ocean. The raw materials, labor, and services that were being traded throughout the years are what made the United States so wealthy in the first place. If not for globalization, American workers would be no better off than any other country in the world. America’s dominant role in the early development of the global economy led American workers to a very beneficial position. It was only a matter of time before the market evened itself out. The tide of the world labor market is pushing back as the global economy continues to mature. Looking back throughout history, the effects of globalization on the United States labor force have been largely beneficial. It is only in recent years as other economic powerhouses emerge and the competition has increased that American workers have felt the sting of globalization. What goes up must come down. If America plays its cards right, it may rise to the top again.
About the Author:
I am Matthew Evans and I want to show people how beautiful and interesting our world is. I am a business coach, spin palace reviews writer, and travel blogger. In addition, I really like to read new information about psychology and politics. I am sure that you have to know everything about politics if you want to start your own business. I hope that my knowledge will help me to understand people and make their lives better.