Determine and discuss about the economic globalization

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Reference no: EM132295546

Thread 1

Globalization has had one of the largest impacts on labor organizations without a doubt. Economic globalization includes flows of goods and services across borders, international capital flows, reduction in tariffs and trade barriers, immigration, and the spread of technology, and knowledge beyond borders" (Samimi, 2014).

Globalization allows all countries to have a similar mindset. It is difficult however for a social clause to be put into place because of the social and cultural differences every country has. Domestic employment is often affected by globalization in the way they can hire employees and operate their labor relations.

For instance, in the United States, employers now feel a "pressure" of some kind to become culturally integrated and while that has many benefits, can take away jobs from Americans or affect the way they pay. "Especially countries with a good economic situation are highly affected by immigrants and prominent in their publication output on immigration" (Trost, 2018).

Low skilled jobs however are perfect for immigrants and can "benefit the destination country if labor demand exceeds supply" (Budd, 2018, p.393). In addition, immigration and globalization can have its disadvantages.

For example, language barriers, fears of reprisal, and cultural differences all pose a challenge in the topic of globalization. In the bible it also discusses the uniqueness found in the different cultures of the world. Revelation 7:9 says "After this I look, and behold, a great multitude that no one could number, from every nation, from all tribes and peoples and languages, standing before the throne and before the Lamb, clothes in white robes, with palm branches in their hands."

References:

Budd, J. W. (2018). Labor relations; Striking a balance(5thed.). New York, NY: McGraw-Hill Irwin.

Samimi, P. (2014). Globalization and Economic Growth.

Trost, M., Wanke, E. M., Ohlendorf, D., Klingelhöfer, D., Braun, M., Bauer, J., ... Brüggmann,

D. (2018). Immigration: analysis, trends and outlook on the global research activity. Journal of global health, 8(1), 010414.

Thread 2

Globalization is increased economic integration among countries and opens up greater financial opportunities while adding competitions that can reduce financial returns, (Budd, W., John, 2017, pg. 387). While some say trade is good because it creates jobs and economic opportunity, however, globalization affects American workers.

There were fewer manufacturing jobs in the United States between 2001 and 2013 due to China entering the World Trade Organization in 2001, gaining access to U.S. and other international markets, (Team, W., E, 2016).

The end result with China entering the world trade was 3.2 million American jobs lost, with companies that made computer and electronic parts, textiles and apparel, and furniture was hit the hardest, (Team, 2016). When jobs move overseas, there is less demand for American workers who might have once filled those jobs. In addition, "workers overseas, are willing to do those jobs for lower pay and doesn't require much education and training," (Team, 2016).

Yes, these implications suggest an enforceable labor standard (a social clause) be added to free trade agreements. For instance, "countries can insist that foreign companies build local factories as part of the agreement. They can require these companies to share technology and train local workers," (Amadeo, K., 2019). Enforcing laws globally, eliminating human suffering, poverty, exploitation, exclusion, and discrimination. Human rights and trade are fundamentally linked and must be seen as complementary, not oppositional," (Howse, R., & Mutua, M., 2019).

Bottom line globalization means that a growing number of companies do business in multiple countries. "In a truly globally connected world, a worker's skill set could see them posted in any number of locations, they need to be able to operate in whatever environment they find themselves, (Team, 2016). "Then they said, "Come, let us build ourselves a city, with a tower that reaches to the heavens, so that we may make a name for ourselves; otherwise we will be scattered over the face of the whole earth," (Genesis 11:4, NIV).

Reference

Amadeo, K. (2019, February 14). 7 Pros and Cons of Trade Agreements.

BibleGateway. (n.d.).

Budd, W., John (2017). Labor relations: striking a balance (5th ed.). McGraw-Hill Education.

Howse, R., & Mutua, M. (n.d.). Protecting Human Rights in a Global Economy: Challenges for the World Trade Organization.

Team, W. E. (2016, December 13). Four Ways Globalization Affects American Workers.

Reference no: EM132295546

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