Does Globalization help or hurt the state of Alabama Essay

Does Globalization help or hurt the state of atomic number 13 - Essay ExampleGlobalization effects are dependent on the state of development of the nation. Countries that are termed as developing may not benefit from globalization compared to developed nations. This can be attributed to the lack adequate farm animal to acquire technology to compete with developed nations. Globalization can thus be evaluated with regards to the effect it may have on the nation it affects. The state of Alabama will be positively affected by globalization (Mishkin 2009 187-196). Alabamas economy depends on various industries to ensure that there is economic harvest-tide in the state. Alabama generates its tax from agriculture with leading products being livestock products. The states agricultural produce allows broilers, cattle, eggs, cotton, horticulture and calves. Crop farming comprises 18% of revenue generated from agriculture. The State has manufacturing industries that add value to the raw m aterial imported or from the country. Manufacturing industries in the State increase the revenue generated as the products from the manufacturing industries retail at a higher price compared to the raw material exports. Fishing along the golf of Mexico provides the State with revenue. Mining provides the state with most of the States revenue with some of the minerals mined include coal, natural gasses and limestone. Mining in the State provides the local people with employment which improves their lifestyle. The service industry also contributes significantly to the States economy. The services provided in the state include community based, business government, and personal services (Cunat, 2009179-212). Effects of calling The revenue generated from taxes levied on imports and exports from local and foreign businesses enable the government to hold out its operations. Globalization of economies requires that such wiliness barriers be eliminated to facilitate the free movement of commodities. The government can generate additional revenue from the business with globalization. Globalization encourages international investors. International investors increase the employment opportunities through the industries they venture into in the State. Imports will increase through globalization. change magnitude imports enable the citizens of the State to choose from a good range of products provided in the market. The free trade also facilitates exports such that the industries in Alabama can market their products in all markets they may find profitable. The trade in processed good from the industries in the state ensures that it enjoys favorable terms of trade. Unlike other nations especially the developing nation which star in sale of raw material, Alabamas finished products may retail at a higher cost thus improving the States terms of trade. Improved trade between other States would ensure that the nation reduces its budget deficits. Budget deficits are as a res ult of increased government spending compared to the revenue it generates. Increased trade between other States enables the government to collect more revenue from the workers and the industries in the nation thus more revenue generated. Government spending in improvement of infrastructure and provision of some basic amenities can also be reduced by encouraging foreign investments (Andres 2011885-901). Competition may be viewed as a local industry destroyer with many weak industries falling under the pressure of competition. Competition