Sunday, January 5, 2014
Have we reached the end of globalization
Link to article: CNN
From 1998 to 2007, global trade has increased twice the pace of the global economy. We sitting inside our home in American Fork Utah, watching a European program on our Japanese television, while talking on our Korean phone. But in the last two years global trade has dropped significantly. The article suggests that we are heading in a direction that minimizes globalization for us.
I think globalization will continue. We will continue to develop new technologies across the world that we want and need and I don't think will stop anytime soon. The article did suggest however that we could advance in technology in a way where we wouldn't need to buy products from other countries, like a 3D printer for example. Instead of going to a store and buying a product you could just print out what you need. I don't see that in the near future but who knows, I'm sure my grandpa our technological advances like the 3D television, iPhones, ever in his future.
There are some political roadblocks that are the reasons for the drop on global trade. Anti-trade policies are the highest they've ever been since the 2008 financial crisis. Protectionism is also on the rise. Globalization/trade has been very beneficial, especially for the poor in a faster, growing global economy. The World Trade Organization has made some efforts to cut the "red tape" between countries and promote global trade. Politicians can help influence globalization by increasing global trading efforts.
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I personally want us to continue world trade. I think that it helps in our foreign relations when serious issues come up. We are going to be nicer to the countries that we trade with. This, therefore, improves foreign relations. I can see why supplying ourselves with a lot of different materials would be nice also, but I would rather continue world trade than supplying ourselves here in the USA.
ReplyDeleteI think an important aspect to look at when dealing with the issue of globalization is to look at how it's changed culture. Like you said, there are so many things we use that come from imports rather than exports. In my opinion, I think the countries of the world have come to rely on one another in some way or another. The global economy dropped when the financial crisis of 2008 hit the U.S.; the value of not only the dollar, but the value of euro, the yen, the yuan, the peso, and the currency of many other countries dropped. I agree with you in that globalization has some pretty big barriers in its way if it were going to stop.
ReplyDeleteThere are positives and negative to global trade. We are influencing growing countries, but we're shooting our own economy at the same time. Home-based trade would expand our economy, after a little while of inflated prices. But there are comes the need to help other countries along. Maybe this is a time where we need to put our own needs second, and help other improvised countries. Or just chose the middle path, and do both.
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