Globalization is a term that has been around since man started trading with different parts of the world. The definition for globalization is the free movement of goods, services and people across the world in a seamless and integrated manner. It is the trade between nations, resulting in an interconnectedness and integration of the economies of the world. The United States is constantly striving for economic growth. (Premise 1) As the economy grows it creates more jobs, causes the housing market to be productive and enables people to spend more money which continues the building of the economy. (Conclusion 1) Globalization has so many purposes and benefits that result in not just a few to benefit, but it causes everyone to benefit.
Globalization is good for business because of the cheaper production cost and it helps businesses sell their products to consumers all over the world. A business can go to other countries like China, India, Brazil, Mexico, and a number of other places for cheaper production cost. (Premise 2) By doing business with these other countries at their cheaper rates, this benefits the business and the employees in these countries. It saves the business in the U.S. money by cutting cost. The employees work at a cheaper salary than they would here in the U.S. and the business can hire more employees, which will produce their products at a faster rate. (Conclusion 2) Because of the quick response time in production and delivery that these other countries provide, this increases the competition.
I believe that the pros to Globalization exceed the cons. Globalization builds relationships amongst countries and it helps to develop the countries that have poor economies. Most of these poor countries have a high unemployment rate and by doing business with them, it provides jobs, expands technology in these poor countries and creates a worldwide