Globalization is global free trade, and as much as we like the idea of “Made in America”, sourcing raw materials and manufacturing overseas is to our advantage. No doubt the U.S. now makes a fraction of what we once did, in large part because government regulations have forced up the cost of manufacturing. However, using the resources of other countries, whether labor or materials, to produce goods at the lowest cost makes American companies competitive and provides the American consumer with affordable products, and boosts the standard of living of everyone. Today, even a very complex item like a cellphone is affordable by a good percentage of the world’s population because numerous countries offer everything from the design to raw materials to labor to produce the device. The efficiencies of global markets, without government interference, provide the most products at the lowest cost, a win-win situation for manufacturers and consumers.
Please don’t confuse globalization with globalism which is world government. The latter would destroy free trade.
The story below is from the book Indivisible by James Robison and Jay W. Richards. I highly recommend it.
Imagine: The citizens of Fargo, North Dakota, decide they are only going to buy local. They resolve not to wear, eat, drive, or live in anything that originates anywhere outside the Fargo metropolitan area (which includes a few hundered thousand people). They want to keep their wealth at home rather than transferring it to “foreigners” in Duluth, Topeka, and Salt Lake City. To live like they do now, they would need to have mines and smelters of all sorts, steel mills, oil wells, and oil refineries, car manufacturing and computer chip fabricating plants, light bulb factories, leather tanners, farms, ranches, butchers, dairy farms, fruit orchards, paper and textile mills, chemical factories, pharmaceutical factories, movie studios, and on and on and on–all in and around Fargo. Few citizens of Fargo have the skills to perform the tasks required for such a wide variety of industries. Farms and orchards in Fargo don’t produce in the cold winters. There would be no citrus, no seafood. Many commodities and metals just aren’t available in Fargo. Fargo has a major Microsoft contingent, which provides a lot of software experts; but they’re in oversupply since there’s no trading outside Fargo.
Without large markets that acommodate specialization, most of what the folks in Fargo now take for granted would disappear, and their lives would start to resemble the lives of villagers prior to the Industrial Revolution. They would work much harder and less productively, everything would be much more expensive, and everyone would be vastly poorer.