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Globalization - Assignment Example

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According to Robertson & Scholte (2007), globalization has had a massive impact on our lives, in particular our purchasing habits and the way we do business. The last decade has seen businesses and consumers alike embrace globalization in a way that has never been experienced…
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Globalization al Affiliation) Introduction According to Robertson & Scholte (2007), globalization has had a massive impact on our lives, in particular our purchasing habits and the way we do business. The last decade has seen businesses and consumers alike embrace globalization in a way that has never been experienced before. Most manufacturers now find it cheaper to produce and distribute their merchandise in other countries. At the same time, consumers are finding it cheaper to buy such products; this promotes international commerce and enhances other aspects of business like transport and communication (Waters, 2009). In this paper, I will provide the ten most expensive items I own, their place of manufacture and also write a brief review of my findings and the impact globalization has had on my life and purchasing habits.
1. Car- Toyota Levin- Manufactured in the United States
2. I phone 4s- Manufactured in China
3. Mac Book Air- Manufactured in China
4. Watch- Seiko- Manufactured in Tokyo, Japan
5. I Pad 2- Manufactured in China
6. TV- Philips- Manufactured in Poland
7. PlayStation 3- Manufactured in Germany
8. Sunglasses- Ray Ban- Manufactured in Mexico
9. Sony Home Theatre System- Manufactured in Germany
10. Samsung Refrigerator- Manufactured in China
Review of Findings
Of the 10 items on the list, only 1 (Seiko watch) is produced in its manufacturer’s country of origin. 4 items are produced in China, while 2 are manufactured in Germany. This shows that a majority of multinational corporations favor producing goods in other countries where it is cheaper to do so. By doing this, they avoid paying high or extra taxes levied upon them and hence make the final products cheaper. They are also able to incur minimal expenses in terms of production labor, since human resources are very expensive in their countries of origin.
Impact of Globalization on My Life and Purchasing Decisions
Globalization has had a massive impact on consumers all over the world. Actually, it does not matter how much one earns; it is now possible to purchase items that were previously deemed too expensive by some consumers. Personally, globalization has affected me in a number of ways, both positively and negatively. The positive effects include the fact that I am now able to afford certain products that I could not fathom buying because they were costly for me. I can say that my purchasing power has increased significantly over the last two years, hence allowing me to enjoy the benefits of owning some products. Despite this, my financial capability has not improved much, so I am convinced that products have become cheaper. There has also been an increase in the availability of foreign products. I now have a wider variety of brands to choose from when buying items, and this is because the goods are produced cheaply and therefore can be made available to just about everybody.
Negative impacts include an increase in the number of counterfeits being produced. I have been a victim of counterfeiting before, so I know the pain and disappointment of buying something only to discover (later) that it is not genuine. Apart from this, I am very conscious person, and as such I am concerned about the complaints emanating from China and other parts of Asia concerning factory workers who operate in poor conditions, work long hours and are paid minimal wages. This has led me to be on the lookout for products that are manufactured in China, Taiwan, Malaysia, Thailand and other Asian countries by foreign companies. These companies exploit workers since they make huge profits from their goods but pay locals who make the same goods low salaries and force them to work under poor conditions. Also, child labor is tolerated not only by local governments but also foreign companies that hire minors work for them.
Robertson, R., & Scholte, J. A. (2007). Encyclopedia of globalization. New York: Routledge.
Waters, M. (2009). Globalization (3rd ed.). London: Routledge. Read More
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