Many have a different view of globalization; some are angry and view globalization as job loses throughout the United States. Yet another viewpoint is excitement about job growth and opportunities. Are the different views from a lack of information and understanding; or are both view's correct?
What is Globalization?
"Globalization is not something we can hold off or turn off . . . it is the economic equivalent of a force of nature -- like wind or water." Bill Clinton (American 42nd US president (1993-2001)). "The word "globalization" implies a transition to "globality. Globality suggests the basic unity of the human spirit, expressed through global awareness, a consciousness of common humanity, concern for the earth, and a common set of basic norms"( Aaron Bernstein 2004).
Trade Theories
One very common trade theory is the product life-cycle theory. The product life-cycle theory is an accurate explanation of international trade patterns. The photocopier is a good example; Xerox was the first to develop and sell the product in the early 1960s in the United States. Xerox exported the photocopiers from the United States to Japan and the advanced countries of Western Europe. As the demand for the photocopiers grew in those countries, Xerox entered into joint ventures to set up production in Japan (Fuji-Xerox) and Great Britain. When Xerox's patents expired, other foreign competitors began to enter the market. U.S. users began to purchase the photocopiers from Japanese companies because they were less expensive; this created a decline in exports from the United States.
Major Drivers
Almost every book and articles through the internet on globalization refer to different drivers of globalization; listed are only three major drivers.
1) ...