Aspects of Globalization

The city of Michigan is bound to benefit from the globalization initiative in many ways. As we have seen, globalization promotes nationalism and liberalization of the economy. The economy of Michigan will be liberal and the lifting of various restricting rules will lead to market forces freely determining the trends in business. The demand and supply components of trade will serve to promote the availability of goods and services to the customer despite the boundaries. Globalization leads to increased competition in product delivery. A globalized economy avails a variety of options to the members of the society in which decision making is based. The people of Michigan are bound to benefit from the availability of a wide range of products which are provided at affordable prices in the market. The abundance of the materials needed in the Michigan capital market, leads to the fluctuations in costs of goods and services and consumer involvement in product development. Globalization widens the labor market from which the employers from Michigan industries can choose from. This enables the employers to get hold of the best qualifications in individuals globally. Skilled labor can also be acquired through outsourcing the most economical and cost saving labor options.

Through globalization, Michigan will be in a position of acquiring information from all over the world. Such information will be more beneficial to them. The people of Michigan are enabled to interact with persons from all walks of life which lead to the spread of cultures. The Michigan people can pick up cultural trends that they consider appealing and learn from them through implementation. On the other hand Michigan might face negative consequences. They include the possibility of multinational corporations and companies that were previously barred from engaging in commercial activities having more influencing political decisions to the local governments. Similarly, most developed states have outsourced white collar careers and manufacturing jobs. This results to lesser jobs for their citizens. This could happen because manufacturing work is fetched from developing nations like in Africa where the requirements to manufacture goods and salaries are considerably lower. Due to the demand by the locals to have a better pay to ensure that they thrive conductively, the management seeks to minimize its costs of operations. This results to them hiring low cost labor through the available outsourcing channels. Globalizing Michigan may cause job insecurity. Currently Michigan people have stable and permanent jobs. Through globalization and outsourcing of labor, people will live in constant fear of losing their jobs as a result of increased competition (Waters, 2001). The rising job competition will lead to reduction on salaries or wages and consequently lower the quality of living.

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