The Global Economy
It’s incredible how a single electronic toothbrush requires the cooperation of 11 seperate countries to assemble, manufacture, and eventually retail it. The Spiegel’s article on the growing affects of globalization deals with both the personal aspects of a Phillipine factory worker to how entire cities are changing because of increased revenue. The story begins with Mary Ann Cole, who is able to work because of globalization. Without the Phillips corporation entering the Phillipines because of cheap labor, Mary Ann would be jobless. So in some aspects, globalization does benefit people, and minutely contribute to equaling the scales, but in all cases, it is the top business leaders who are truly benefitting.
In an effort to save every cost, businesses are going to poorer countries, particularly in SE Asia, Eastern Europe, and China to hire entire workforces of manual laborers. What makes this now possible is how so many former or current socialist countries are abandoning socialist ideals and allowing capitalism to take root in their country. China is obviously the country in the spot light when one looks at its current growth in economy (7 to 8%) every year, and most can be attributed to the government allowing foreign markets to come in.
American and Western European workers are suffering from the decrease in available jobs. Workers who once had job security at a large corporation can suddenly find themselves replaced by outsourcing. So the effects of globalization are not always good.
As a whole the article wraps up some of the largest and most dawnting facts of globalization into a story around the production of a single toothbrush. It opens the readers eyes to just how integrated the world has become, and how the economic powers are shifting. The article leaves the reader questioning the fate of Europe and the United States, and whether the two former big players will find a way to give the economic power back to the common western worker.
