Effects of Globalization
1. Most of the shoes now-a-days are made in Indonesia and countries located to the Eastern part of our globe. Before the shoe industry was based in Mexico Guanajuato and since cheap labor and globalization they relocated their industries and moved to more Oriental places therefore affecting the Mexican society quite a bit do to the great loss of jobs and so forth.
2. Another effect of globalization that comes to mind has to do with all the parts of a car coming from all over the world: Germany, Japan, Korea etc. and it being assembled in the U.S.
3. Another is the way businesses operate today with having many satellite locations or call centers in other parts of the world to answer questions in another: example, someone in India answering a call from the U.S. about a product or service.
4. Free World Trade Organization, N.A.F.T.A., New World Order. European Union. Soon to come Pan American Union. (U.S. , Canada, and Mexico, with no borders.)
5. A bad example of globalization is the Law of the Seas Treaty which will give complete jurisdiction of the ocean's resources and use to the United Nations.
Pros of Globalization-the pros are that countries can produce what they are best at producing because they can specialize in that and trade with each other. This will increase overall world output. But cultural erosion can occur as people in the Philippines for example might start buying lots of American goods and less Philippine goods. However, you can argue that if people are buying more American goods they are doing it because that makes them happier, and happiness is ultimately the point of economics.
Cons of Globalization- Globalization ...