Financial Impact of Globalization

Paper Summary:

In this article, the writer discusses globalization in terms of its impact on US based manufacturing. The observation is made that globalization is best described as the internationalization of goods and services as well as the internationalization of production and manufacturing. The predominant business strategies related to globalization are discussed which are outsourcing and offshoring. These phenomena are related to productive output within the US economy and with total number of manufacturing positions in the market that have been lost due to globalization factors. The writer concludes that the impact of globalization on US based manufacturing has been negative in terms of total productive output as well as in total number of jobs in manufacturing.

Outline:
Abstract
Introduction
Productivity & Labor
Globalization's Affect on the US
Conclusion

From the Paper:

"Manufacturing and production as an economic activity consists of many factors. However, the two most important economic factors relative to manufacturing are productivity and labor because overall output is the broadest measure of productivity and labor relative to the number of manufacturing jobs present is the broadest measure of efficiency. Developing a better understanding of how globalization has affected these two factors in the US market is paramount to determining the future trends related to US manufacturing as globalization continues to be the international economic model of choice. Before examining these factors vis-a-vis the US market, it is important to describe the particular phenomena associated with globalization, which leads to the mass movement of manufacturing and production from one market to another that impacts productivity and labor metrics."

Sample of Sources Used:

• Foreign investment in China. (2006). The US-China Business Council (online). Retrieved July 26, 2007 from: http://www.uschina.org/info/chops/2006/fdi.html
• Golgberg, L. (2007). Why a dollar depreciation may not close the U.S. trade deficit. Current issues in Economics and Finance, 13/5, p.1.
• Hodkinson, S. (2005). Is there a new trade union internationalism? Labour Capital and Society, 38/1-2, p.36.
• Liang, Y. (2007). China's technological emergence and the loss of skilled jobs in the United States: Missing link found? Journal of Economic Issues, 41/2, p.399.
• Productivity spillovers from foreign-controlled suppliers in manufacturing. (2006). Perspectives on Labour and Income, 18/2, p.52.

More papers on Financial Impact of Globalization:

• Analytical Essay # 134400 : "Financial Impact of Globalization"
• Research Paper # 75203 : "Concepts and Impacts of Globalization"
• Analytical Essay # 129182 : "Impact of the Current Global Financial Crisis"

APA Citation:

MLA Citation: