Globalization is the term given to the worldwide system of interconnectedness that the global economy has come to depend on. In other words, every community in the world is in some way connected to and dependant on, most other communities in the world. Globalization has also come to mean a system of free trade agreements between certain countries that allow foreign industry to compete with each other in an unrestricted manner.
Those who see free trade and globalization as a good thing say the benefits may be subtle but they are far-reaching. Products are better, cheaper, more advanced and more varied due to the high level of competition free trade causes. Free trade allows American importers and exporters to compete in foreign markets on equal footing with other foreign industry. This also means foreign industry can compete for markets in America. Economists in favor of free trade say that the overall standard of living will be higher because consumer goods will be much less expensive and therefore affordable to those with lowered wages.
English: Head-and-shoulders portrait of Ralph Nade...
English: Free trade areas are a difficult subject....
List of countries by leading trade partnersAlthough there will not be more jobs by opening to free trade, there will be better jobs requiring higher degrees of skill and training.
The plight of the suddenly jobless and perils of wage decreases is one of the platforms on which those against free trade stand. Ralph Nader calls it "a race to the bottom," where companies move to countries with fewer environmental and safety controls, or threatens to do so if restrictions are not lifted. This policy of corporate control is making workplaces and the communities around them unsafe and unhealthy. Nader sites the example of Brownville, Texas a community not too far from a free trade zone established in Mexico. Since the factories began production and unrestricted waste dumping across the border, a record...