Globalization is worldwide global economic has generated more problem Research Paper

Globalization is worldwide spheric economic has generated more than problem them benefits for society - Research Paper Example collar the job through with(p) through cheap labor cost and high technical efficieny.Much of Americas manufactured products ar imported from mainland China and hence the countrys own economy is effected by departure of job and production opportunity. In advanced countries like American and U.K. there had been a tremendous requisite for high skilled workers and these demands were met by create peoples like China, India and Japan. As per (Overholt) The shipment of American jobs to cheap unlike labor markets threatens not only millions of workers and their families, but also the American way of life. The most negative have-to doe with of globalization is that it give way to income inequality and lower the normal wages of American workers and in blow over make the rich corporate rase richer. This action can also make the economies of other developing countries progress at a staggering rate while collapsing the economy of outsourcing countries .Much of the population in India, China and Eastern Europe has flourished exceedingly while the U.S. work force had to bear the losses. Millions of worker s in America is undergoing global competition with regard to their employment and job skills. Even manufacturing workers who worked in America had to take on their jobs leave for other countries where the wages were low. Problem of American companies miserable to developing nations The American companies are moving to less expensive labor countries in order to reduce the cost of production and increase their realise ratio. Hundreds of American companies have move their championshipes to China, lured by cheap labor and low production costs(Davidson).America is losing millions of bills due to these actions by big corporate. It is also seen that many of the companies in China do not even manufacture products with... Globalization has c hanged the face of world as technology and communication have taken a huge leap. It has brought advancement to many sectors of developing nation like India, China and other South Asian countries while impacted negatively to U.S. Due to globalization, American companies tend to migrate to other developing nation where labor and cost of production is cheap. Moreover many service sector and technical jobs have moved to foreign labor market which downturned the job opportunities of American citizens. Americans have been pioneer in technological celestial sphere and it is unfortunate to see that professions related to IT get outsourced to foreign nations. Huge number of Americans is finding it hard to get jobs even after acquiring best education and technical skill. Even after having higher education, the seek and medical developments are undergoing in other developing nations. It is unfortunate that a country with such exceedingly advanced technology and political power is losing out to other nations just because of the look out of business corporate for profit. The technological development has also changed the lifestyle of people dramatically by making them more mechanized. People are under the influence of computer and other modern electronic gadgets and losing their traditional determine and concepts.