Give a 200-300 words reply to the discussion board.

(Original question) With Globalization having such a strong impact and importance to the U.S., what have been some of the Benefits and pitfalls of Globalization as seen by the American people? How has it impacted State and Federal policy in governing? How has it affected the Job market and wage amounts?

(DB)Globalization is defined as the evolution and integration of how people across international territories collaborate, communicate and network, accompanied by each cultural framework, beliefs and set of values, its systems and processes, technology exchange, how business relationships are established, how perspectives are influenced, how decisions are made and the development of diverse and potentially complex or dynamic synergies both through a positive and negative lens.

Through the lens of the American people, the benefits of globalization include the ability to cross pollinate from being able to leverage resources that may be of a shortage or maybe one where they’re classified as a new means to support the stability or growth of a country, ability to work or study abroad, global versus local financial investments, import and export capabilities, expanding one’s financial and business portfolio, etc. As stated in (Art 2017, page 280), “Through exports and capital inflows, globalization can help a state increase its wealth, but it also brings vulnerabilities that derive from the need to rely partially on others for one’s own prosperity. Balancing the two imperatives is a difficult political act.” So although there are potential gains as it relates to the effects of globalization, it too brings about pitfalls, impacting a country’s ability to thrive and maintain its competitive stance such as limited jobs available, lost to lower cost countries who can perform the job at a much minimal labor cost, ability to monopolize on valuable resources that differentiates or creates a level of resource distinctiveness, power to manage the cost of products and services sold, etc.

Globalization has also impacted the governing practices of state and federal policies. Such impact includes that of trade agreements, immigration policies, policies related to Earned Income Tax Credits which would help those who may not be able to secure an adequate job or one that yields a reasonable income to support that of its family, and displacement policies and programs to assist those who cannot secure jobs due to the impact of job availability. As globalization has become a common practice and a way of normal operations, many of the jobs once available, is not the case today. This is a result of a growing number of companies looking for cost effective labor and workforce options. This means leveraging such concepts of shared services/outsourcing labor models, international workforce, honing in on potentially unique skills and knowledge, etc. All in an effort to minimize payroll expenditures, operating with a business mindset of maximizing profit while decreasing unnecessary costs.