These convergences lead to mixed economies.
Globalization and the U.S. Economy
Outsourcing is a result of the current globalization rate, due to rise of internet users and communication through broadband. In actual sense, outsourcing is inevitable, and no one is going to eliminate it any time soon, including the United States. However, outsourcing will mean loss of jobs in the United States, leading to a position where these jobs need to be replaced. This is because outsourcing results into competitive businesses, leading to profit and export increase and also increases the opportunities for investments in other countries, different from the source country such as the U.S. In the last decade manufacturing jobs have been moving out of the United States, and this can hardly be prevented. In fact, outsourcing of manufacturing jobs has greatly destroyed the middle class Americans, hence undermining the performance of their economy in general. Competition is...
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