Intl 500

In: Business and Management

Submitted By Jhatch1983
Words 1101
Pages 5
Globalization
Jeremiah Hatch
International 500
Professor Lulejian
12 July, 2015 In this exercise, I agree more with the proponents for globalization. While I believe that the
United States needs to find a way to create more jobs for unskilled laborers, I believe that every
Individual is given the opportunity to create a better life for themselves. Globalization allows for lower prices to be paid for products that can be produced more cheaply and then imported in. A downside of globalization, however, is when manufacturing firms begin dumping products that are currently being produced in multiple countries and then puts so much strain on the organizations causing them to fold. In order for globalization to work favorably for all individuals involved, more stringent laws against international dumping and fines should be imposed to deter organizations from doing so. An example of this would be the increase of Chinese metal hangers flooding into the United States and jumping from a mere 2% in 1999 up to 13% of the market share in just three years. This in turn caught the eye of the United States International Trade Commission. (Cochran, Jr and Plummer, 2010) Major pitfalls such as the inability of the World Trade Organization to weed out and deter dumping and piracy must be found and fixed in order to promote globalization. What is the need for an overseer if the overseer can’t maintain order and fair trade practices? Globalization allows countries to specialize in the products that they are best suited to produce and in turn trade these products for products that they are less suited to making. This in turn makes it easier for countries to receive products that they may not have access to otherwise. Globalization allows for countries that can produce products cheaply to produce them and then sell them at a price which
allows…...

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