Globalization can be better defined as the shrinking of our world. As technology advances, gaps between countries close and our society as a whole becomes more integrated. Globalization has existed for thousands of years, with one of the earliest examples being the use of the Silk Road, which connected China and Europe in the Middle Ages. Globalization can provide many ways for businesses to expand their businesses, while also threatening them (Globalization101.org, 2014). Globalization offers industries many ways to increase their profits. Since businesses and corporations have access to a wider range of potential customers, they have the opportunity to increase their profits. Global competition also benefits the consumer through cheaper products. Businesses are able to share information more freely, leading to faster and more efficient innovations in the market. Easily transferred capital allows businesses and corporations to invest in overseas real estate to expand their operations. It also opens them up to access cheaper labor in emerging markets (businessweek.com). Panos Mourdukoutas (2011) also supports these claims in his article on Forbes.com. Mourdukoutas explains that the good side of globalization lies in the efficiency and opportunities created by these new open markets. Technological advancements related to Internet and telephone services allow businesses to communicate quickly and efficiently with their sister companies and supplies, leading to more efficient operations. This will result in lower costs for consumers and increased profits for the company. The example he gives is Sony's ability to sell TVs and game consoles in New York as easily as in Tokyo...... middle of paper ...... The policy change State trade will continue to harm the country if the problem is not resolved. Congress made changes to a program that had worked very well since 1975 and it caused serious backlash around the world. The United States could now be seen as an unreliable trading partner, if left unchecked. Countries could all together stop trading with the United States, lest the deals take an unhealthy amount of time to pass, if they pass, and the United States can now make demands in those trade deals that they couldn't before. This will cost the country billions of dollars in trade revenue and harm national businesses and economic growth. Bergsten is correct in assessing that this will have an impact on the United States and the global trade regime. Bergsten, F. (2008). Global trade in danger. Retrieved from: http://www.iie.com/publications/interstitial.cfm?ResearchID=926