Globalization of North America, South America and the Caribbean Essay

Globalization is the result of a development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets (http://www. merriam-webster. com/dictionary/globalization). Not everyone is a proponent of globalization. This is especially true for North America. Although the textbook says North Americans have become a highly affluent society by means of transforming the environment and by extending their global, economic, cultural and political reach, the fact remains, that many citizens of North America are not wealth by any stretch of the imagination. The same can also be said about Latin America. The affluence has spread so unevenly, particularly in the United States, that many of the previously middle class have lost their homes and many are now living in tent cities. Recent college graduates are finding it very difficult to obtain employment in their chosen field. Many people have been unemployed long enough that their unemployment benefits have run out. These people are considered to be not actively seeking employment – this is hardly a fair opinion to form. Much of this can be accounted to work being outsourced, mainly to places like Mexico, or even as far as India. â€Å"Multinational corporations are often accused of social injustice, unfair working conditions (including slave labor wages and poor living and working conditions), as well as a lack of concern for the environment, mismanagement of natural resources, and ecological damage. † http://www. manufacturing. net/articles/2010/06/the-pros-and-cons-of-globalization. However, there are some benefits of globalization. Some people argue that money is now able to flow freely across boundaries that were once limited. An article found in Forbes Magazine explained how Sony could sell a Playstation game console or TV just as easily in the United States as Tokyo. The same goes for Apple with its iPhones and other tech toys. (http://www. forbes.com/sites/panosmourdoukoutas/2011/09/10/the-good-the-bad-and-the-ugly-side-of-globalization/). The textbook points out how uneven development is in Latin America. Frustrated workers, whether highly skilled or low skilled look to emigration as their only hope. Migrants frequently relocate to the United States, Europe and Japan looking for work. Remittances are sent back to their native countries, which results in billions of dollars annually directed to Latin America.