World Trade and Globalization: Good or Bad for America?
by The effects of global trade should not solely be assessed under the present economic effects and conditions.
According to Fallows (2007) “I had no concept of the sweep of what has become the world’s manufacturing center: the Pearl River Delta of Guangdong province (the old Canton region), just north of Hong Kong. That one province might have a manufacturing workforce larger than America’s. Statistics from China are largely guesses, but Guangdong’s population is around 90 million. If even one-fifth of its people hold manufacturing jobs, as seems likely in big cities, that would be 18 million versus 14 million in the entire United States.” (p. 1)
The mistake of the United States is attempting to reestablish the manufacturing based economy we once were instead of embracing the growing shift towards the service based economy we are becoming. America’s comparative advantages are found in areas of research and development, high- technology industries, medical innovations, and the flexibility of adapting and identifying new markets. Focusing on the services we have the ability to deliver far better then any other nation in the world and educating our students and current workforce in a way to fill that future need will enable America to emerge as a strong force in the ever more apparent global economy.
Analyzing world trade while considering significant historical events and preparing for the future of globalization through specializing in comparative advantages will prove vital for the survival and further growth and development of the American economy.
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Fallows, J. (2007, July). China Makes, The World Takes. The Atlantic, 1-9. Retrieved May 11, 2009, http://www.theatlantic.com/doc/200707/shenzhen
Hricko, A. (2008). Global Trade Comes Home. Environews Spheres of Influence , 16, 2, A 78-A81. Retrieved May 11, 2009, http://www.scribd.com/doc/7482709/Global-Trade-Comes-Home-Community-Impacts-of-Goods-Movement
Kroll, R. (2008, July 22). World trade benefits America . LA Marketplace . Retrieved May 7, 2009, http://www.lamarketplace.com/jobs/ci_9953200
Lamy, P. (2009, May 3). Trade, a good tonic for global economic crisis. The Gleaner. Retrieved May 11, 2009, http://jamaica-gleaner.com/gleaner/20090503/business/business9.html
Steverman, B. (2009, March 23). Global trade collapse smacks industrial companies. Business Week. Retrieved May 11, 2009, http://www.businessweek.com/investor/content/mar2009/pi20090331_240850.htm
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