The only reason to fear globalization is if you think you can't be competitive in a global market.
Try shipping something TO China. That 50% tariff wall makes it a little tough.
Too bad the reverse isn't true to level the playing field.
In the near future (heck right now) your customers aren't going to be low wage Wal*Mart drones, they will be the cream of the crop from around the globe.
With almost half of world GDP located within the borders of the United States and 90% of that being consumer spending, be very worried. Your customer isn't the 'cream of the crop' in Tanzania. He is still down the street from where you live right now.
They just needed to be more competitive, and now they are starting to be.
If they did it all by themselves, more power to them. Since *we* are gutting ourselves and sending it over there, I'd say that the competition still doesn't exist.
Its a race to the bottom. Who will get there first? What will you do when US GDP falls from 50% to something like 20% of world output, but the guy in China still can't afford to buy your product because he only makes a nickel a day? What then?
Like I said, step back and look at the bigger picture. Unless you are absolutely, positively, the only person in your industry....be worried about the global economy contracting as wages plummet globally.
Then figure out who your customer is going to be once that is done. The microeconomics look great, but the macroeconomic picture is dismal at best.
It's part of the deal. We're a long way from having anything like justice as we are familiar with show up in the world at large. But that's because we are new to this global business environment. Issues of justice will be resolved gradually in the course of time, but in the meantime we have business and communication just taking off. Even the ability to discuss things worldwide within minutes is a brandnew capability and we have just a hint of where that is going. I'll bet it's a lot like when Europe officially discovered the New World, but this time the new World is the Whole World. Are Americans ready for this?