Favorite Topic #3

Impacts of Globalization
Globalization is a series of economic, social, technological, and political changes that increase interdependence and interaction between people and companies in different locations. It is countries trading goods between each other and helping undeveloped countries continue developing. Countries rely on one another for goods, resources, and services. The three things needed in order for globalization to work is Free Trade, Developing Countries, and Outsourcing. Developing countries are poor so they have no choice but to work for money. Outsourcing is when you remove work from one company and send it to another where workers do it for less money. In Free Trade goods and services are traded between countries without government imposed taxes and fees. There is an agreement called NAFTA, or the North America Free Trade Agreement, which is a three-country agreement negotiated by the governments of Canada, Mexico, and the United States. 
The impact from globalization is the increase in women joining the work force. There's an increase because there's a need or non-skilled temporary/part time workers, there is a rise in divorce rates, lower fertility rates, and a rising cost in living. There are many pros and cons to Globalization. A negative to Globalization is the cultural homogenization thesis which states that Western domination of other countries threatens to wash away distinct national cultures. A few negatives are the growth of international trade is exacerbating income inequalities, both between and within industrialized and less industrialized nations, global commerce is increasingly dominated by transnational corporations which seek to maximize profits without regard for the development need of individual countries or the local populations, the volume and volatility of capital flows increases the risks of banking and currency crisis, especially in countries with the weak financial institutions. Some positive effects of globalization are it creates greater opportunities for firms in less industrialized countries to tap into more and larger markets around the world, this can lead to more access to capital flows technology, human capital, cheaper imports and larger export markets, it allows businesses in less industrialized countries to become part of international production networks and supply chains that are the main conduits of trade.