Globalization Assignment Example | Topics and Well Written Essays - 500 words - 1

Globalization - Assignment Example 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. 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. 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)