A KFC in the middle of Bali. Seems a bit odd, does it not? Maybe back in the 1980's when Charles Wheelan first saw this sight on his trip to India. Now it's common to see McDonald's and KFC's and other primarily American companies anywhere in the world, as well as seeing products from China and Germany here in the states. And that's a good thing! Maybe it makes me some kind of snob, but I can tell you that if I can afford a German car when I'm older, I will jump into that before any American car. This brings us to the overall analysis of economics found in Chapter 12: globalization and trade.
What I find interesting is that depending who you ask, globalization can either be a very good or bad things. It's quite relative...in fact, it's quite amoral. For example, a form of isolationism would keep certain American workers in their jobs but would slow down both our economy as well as the world's. Ask that American worker if isolationism is the way to go, he or she would probably say yes because they get to keep their job. Ask an economist, the answer would be a solid no. Ask someone who likes to avoid conflict and unfairness and they would probably frown upon globalization. But ask those higher-ups in the business world who are making millions off of people a half a world away and they'd be all for it.
Trade and globalization stimulates our interconnected economy and makes us good economists because we have to take into account how our spending/saving actions are affecting the world economy. Yes, it may cause some people to lose their jobs and an unfair competitive air, but it's working to better the economy as a whole not only for us here in the U.S. but everywhere.
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