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Globalization
The Pros
Globalization has several positive impacts on international economies. Through globalization, productivity increases manifolds as nations manufacture goods and services wherein they have a competitive edge. As a result, the standards of living improve quicker. The vast array invites global competition, which in turn facilitates economical imports and maintains a price limit. Consequently, the chances for inflation to overturn economic development are greatly reduced.
Globalization develops open economies that encourage advancement with creative initiatives from other countries. Positions in the export sector are usually higher paying than jobs in other areas of economy. The inflow of unregulated capital sustains low and workable interest rates and makes the availability of overseas investments possible for the countries.
The Cons
Other than its benefits, globalization has many adverse affects on economies also. In the United States only, millions of residents have become unemployed...
Those on job fear going down to lose it, particularly the individuals working in organizations that operate under competitive pressurizations. Employees undergo salary deductions and claims of employers for being unable to afford a higher pay. Even on a new job search, only underpaid vacancies are found. This results in a vulnerability of employees to export jobs.
The latest trend of shifting organizational operations offshore is another growing threat to the service oriented and executive jobs. The working class of the United States has lost its relative edge as organizations erect superior manufacturing plants in countries offering cheap labor. This leaves the domestic employees insignificant, rather a liability when the plants and workers offshore are as industrious and at a lower cost than those at home.
Financial Institutes and Globalization
Along with proper monetary and fiscal…
References
Khor, Martin; Bello, Walden; Douglas, Oronto; Larrain, Sara. Views from the South: The Effects of Globalization and the WTO on Third World Countries. (ed. Anderson, Sarah). Food First Books, March, 2001.
Mander, Jerry. The Case Against the Global Economy. San Francisco: Sierra Club Books, 1997
Young, Robert De; Berger, Allan N. Effects of Geographic Expansion on Bank Efficiency. Journal of Financial Services Research.
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Globalization's Effect on the United States' National Security Objective of this paper is to explore the impact of globalization on the United States national security. The study defines globalization as the increasing global relations of people, corporate organization and government. There is no doubt that the globalization provides numerous benefits to the American economy. Despite the benefits derived from the globalization, the advent of globalization also provides some threats to the United
The global "mindset" that companies must have is defined as "…the ability to develop and interpret criteria for business performance" that are not relying on the "assumptions of a single country, culture or context to implement those criteria appropriately…" (Begley, et al., 2003). Begley and colleagues insist that the "truly globalized corporation" sees globalization as more of a "mind-set" than a "structure" per se (p. 1). The three mind-sets that