The philosophy of integrating all the worldâs economies and societies into one. Allows for:
- Foreign Direct Investment
- International Trade
- Immigration Driven by:
- The Internet/Communication Technology
- Government Cooperation
Benefits
Economic Benefits
- Increased freedom of choice
- Increased profit
Ethical Benefits
- Access to foreign aid
- Cosmopolitain mindset
Social Benefits
- Increased diversity
- Easier Immigration
- A gradual shift to a unified world government
Issues
Economic Issues
- Deindustrialization of domestic industries. All work is outsourced to foreign countries
- Global competition ruins local businesses
Environmental Issues
- Increased microplastics
- Perpetuates oil rich nation exports
- Transportation technology carbon footprint
Ethical Issues
- Incentivizes child. unpaid or low payed labour
- Exploiting tax havens
- Corporations are gaining larger influence
Foreign Influence Issues
- Geographically isolated countries rely heavily on trading partners
- China is stealing our technology
- Agreeing to Trade Agreement may put our economy at a trade deficit
- Spread of diseases
Solutions
- Better politicians who can confront cheating businesses or countries who:
- Exploit tax havens
- Manipulate currency through foreign market dumping
- Trade Balance. Take active measures to limit deficit
- Modify Trade Agreement
- Enforce trade rules and prevent foreign counterfeiting intellectual property