What are some of the advantages and disadvantages of globalization for the U.S. economy?

What will be an ideal response?

Globalization presents both benefits and risks to the U.S. economy. An advantage is that lowered production costs allow prices on consumer products to go down, meaning that consumers benefit by purchasing goods at lower prices. A disadvantage is that when a U.S. business decides to relocate any of its operations overseas, workers in the United States lose their jobs to workers overseas. Other disadvantages include increased competition from international companies, fluctuations in the value of the dollar overseas, security and patent protection concerns, and unstable political climates that may make it difficult to conduct business in a foreign county.