Proponents generally argue about the benefits of multicultural integration, a romanticized view that the strategy will 'raise all boats in poor and rich countries alike.' The added competition promotes global economic growth, creates jobs, makes companies more competitive, lowers prices for consumers, etc, etc, etc...
In many respects globalization has worked wonders for lowering the worldwide poverty rate. I don't think that anybody will argue that many developing nations have benefited immensely from the drastic reduction in trade barriers.
These arguments are all well & good and play hand-in-glove into this fairy-tale, new world order, utopian society that we all like to believe is attainable.
Being a product of the 1990's, I believe that I have a unique perspective on the realities of globalization. I have witnessed the crescent of globalization in America. I have seen the fantastic excess 'free trade' has created, as well as the unintended consequences. Globalization is like a drug. America has partied so hard for so long, multinational corporations mainlined the cheap labor in increasing doses with reckless abandon for decades. Unfortunately, every drug has a hangover. There are consequences to your actions. We have climbed the mountainous peaks of globalization. The adrenaline kept us marching onward. We have summited, taken rest, marveled at the magnificent views of the valleys below, the landscape we have escaped in our climb. This is when reality dawns. We have exhausted our energy, the sun is setting, it is cold so high in the clouds. With exhaustion, we begin our descent in the shadows of the mountain. It's time to go home and face the realities of life in the society we have created. It was a journey, an escape: but it's time to go back to work..
The Rust Belt
Plastic, tin, fabric, glue, lead, paper, use it once and throw it away. Go buy another. It's all so cheap. You don't expect it to last long anyways. You are buying to buy, buy because you can. Buy because you have no alternative. 'Made in China' enjoy the benefits of globalization. Pay no attention to the labor conditions that made this. Buy because it satisfies a need. Gives a cheap rush. Buy because you need that rush. Buy because you need a distraction from the fact that your wages are declining. Buy because you lost your job and you are not sure how much time you have before your house gets condemned... I thought that this globalization thing was supposed to raise all boats?? So how come my USA drift-boat turned into a Chinese rubber raft that's already leaking air?
The manufacturing jobs went the way of the tariffs. *poof they're gone!*
The U.S. has lost 5 million manufacturing jobs since 2000
The people suffer as we get force-fed the rhetoric that globalization is necessary. Globalization is imminent. Globalization helps us..
It is clear that labor-interests are not directly correlated to corporate profits. Globalization opened the doors to 'consequence-free' slave-labor. The job goes to the cheapest bidder as the developing world competes in the 'race to the bottom.'
I wish that I could say that America only lost manufacturing jobs but that is simply not true as evidenced by the fact that the labor force participation rate is pushing the lowest level since 1978.
The American economy is sick. Percentage of young Americans living with parents rises to 75-year high.