The Beginning of the Understanding

In a recent CNN video, the growing costs and the negative outcome of globalization are covered. In this video, statistics show the distaste that American citizens hold for large, multinational corporations. This, I believe is showing the slow progress the world is making to reverse the process of globalization.

The rising inequality between citizens is clearly visible throughout the world and The American middle class is discovering that their jobs are at risk. Peter Marichi, a labor economist from the University of Maryland addresses the exact issues and future costs of free trade in the video. As our job security is threatened, citizens are unable to provide education for their children, in turn effecting our economy in generations to come.

Rajeev Dhawan, another economist interviewed in the video, believes that free trade has more benefits than costs and that we simply see the costs more. He also believes that free trade provides jobs for people who would normally not be able to work. He also believes that because of the low requirements for employment in sweatshops and factories, large corporations are actually helping developing nations. But due to the amount of time and effort that is put into these factories, the wages and working standards are still not up to par.

Steadily, people are beginning to understand the issues that free trade is causing for our world. We, as consumers are a large aspect of the trade process, so as we decide to address the costs we can together make a difference.