Human beings across the globe have established close contact over the years. Its is true that the world has become a global village in the sense that you can interact with anyone from any part of the world. Multinational companies can manufacture their goods and services in many countries, and they can sell their product around the globe while money and raw materials can be transferred from one nation to another with ease (Norberg, 2010). Globalization has made all this possible. However, globalization has both positive and negative impact on a country and to individuals.
Globalization has affected several aspects of my life. For example, my clothes and shoes my music and my interaction with people. Information technology has made it easy for me to interact with people from all over the world. Due to social media, I have made friends from different countries through platforms like Facebook.am also able to order product like clothes and shoes from other countries in the comfort of my home. These products are delivered to my doorstep.
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Globalization has provided an excellent learning opportunity for me. Through my interaction with people from different culture, religion and countries have been able to learn about their way of life and some of the challenges they face. The ability to buy products from other countries has helped me acquire goods at a lower price. I can compare prices for a given commodity and then select a fair price. In addition to the price, I am able to choose from a variety of products. I feel online shopping has increased the rate at which I buy products.
A country stands to benefit trough globalization significantly. This is because no given country can produce every commodity that they need. The comparative advantage which is the ability of a nation to create services and goods at a lower opportunity cost compared to other countries is the primary benefit of globalization to a nation (Kuepper, 2018). The US has been able to produce goods at a lower cost due to offshoring and outsourcing cheap labor from developing countries. Competitive workforce from other countries has helped US companies significantly reduce operation cost. When I walk to stores and restaurants I am usually served by people from other nationality. However, this has resulted in the loss of jobs for the local people. In my experience, some local organization prefers to hire undocumented immigrate because they provide cheap labor.
The bilateral trade that the US has established with other countries enables our country to access cheap raw materials from other countries, which also help to reduce the cost of the final product. We are also able to export goods and services from our country to the rest of the world. A company like KFC has a franchise all over the globe . Hence, globalization has encouraged trade which in return has improves the balance of trade of our nation. Globalization has also helped our country to share innovation and technology with other countries. We can share ideas with people from other countries. However, this interaction has posed threats like terrorism to our country.
In conclusion, globalization is a force that cannot be stopped. In order to enjoy the benefit and reduce the negative impact of globalization individuals, companies and the government have a role to pray. The responsibility of companies is to provide opportunity for training and developing the skills of their employee while the government creates a framework that will ensure that people have a level playfield (Longworth, 2010).
References
Kuepper, J. (2018). Globalization: Good or Bad for Developed Countries? Retrieved from https://www.thebalance.com/globalization-good-or-bad-for-developed-countries-4011193
Longworth, R. (2010). Caught In The Middle. New York: Bloomsbury.
Norberg, J. (2010). In defense of global capitalism. Washington: Cato Institute.
