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Globalisation has brought tons of life changing affects that have made up our modern world. When looking at it from an economic aspect, you can see the many pros that come with it. To restrain the giant that is globalisation is to limit potential growth around us.
The advantages of globalisation are actually much like the advantages of technological improvement. They have very similar effects: they raise output in countries, raise productivity, create more jobs, raise wages, and lower prices of products in the world economy (Gopinath, G. & Parker, C., 2019).
With such potential gained from globalisation, restraining it would limit the listed pros. Prices would rise from products such as cars from lack of competitors around the world.
The “American Dream” wouldn’t be as substantial as it is without globalisation. Those who would want to come to America and share their culture in order to make a living from it here would struggle more than usual if we choose to restrain.
Not all sides to the story are bad. Through the restraining of globalisation immigration to the U.S. would have to be limited as well, therefore lowering the population for the future of our country and lowering the competition for lower wage jobs.
This implies robust social safety nets that don’t just catch people who’ve been hurt by globalisation, but relaunches them with work supports, ranging from wage subsidies, health and child-care assistance, and a direct job when labour markets are persistently soft (Bernstein, J., 2016).
According to Bernstein, “I’m solidly on the record as simply not believing that globalisation can be stopped or even particularly slowed. It can be reshaped, however, and there are different ways to go about that.” (Bernstein, J., 2016).
One of the earliest memories of globalisation that I remember was when I was a child. At an early age my parents brought me to the United States from Mexico. As I grew I up in the Southern California are I realised how many Hispanics there were all around me. Everything felt normal for me.
Seeing this and being able to visit restaurants and stores that were Hispanic oriented made me realise how easy it was for someone who didn’t know much about one culture could simply up and move and integrate into a new society with their own culture.
Globalisation has given immigrants a chance to demonstrate others the way they use to live all the while continuing to breathe life into their own culture. Because of my past experiences and the way, I observed society around me at an early age I can honestly say that globalisation is enhancing cultures.
As I mentioned before. Globalisation gives opportunities to immigrants to share their way of life around the world and therefore allowing their culture to flourish wherever they go.
Gopinath, G. & Parker, G. (2019) An Economist Explains the Pros and Cons of Globalisation retrieved from https://www.weforum.org/agenda/2019/04/an-economist-explains-the-pros-and-cons-of-globalization-b2f0f4ae76/ (Links to an external site.)
Bernstein, J. (2016) Globalization: Restrained or Reshaped retrieved from https://www.washingtonpost.com/posteverything/wp/2016/07/26/globalization-restrained-or-