The ten most expensive things I own and where they are made:
- Toyota Camry 2000- This particular model was conceptualized and manufactured in Australia
- Macbook Air- Manufactured in China
- Ipad- Made in the United States
- Iphone- Manufactured in the United States
- Samsung TV- Manufactured in China
- Playstation 3: Manufactured in the United States
- Xbox 360- manufactured in Malaysia
- Gucci-sunglasses- Made in China
- Gucci-watch- Made in Korea
- Gucci perfume for men- Made in Italy
Globalization has become an important aspect in the world economy. Globalization also has various effects on an individual’s purchasing decisions. Using a study of my top ten purchases, I was able to research how globalization affected my purchasing decisions. From these effects, there were both negative and positive impacts of globalization.
The most significant finding in this research is the fact that even products associated with a country are at times not manufactured in this country. For instance, the Macbook and the Xbox are products that are supposed to be manufactured in Unites States.
However, both products are manufactured in China and Malaysia. The same applies for the Toyota and Samsung brands. Another discovery that was made in this research is that even within a single company manufacture of different products can occur in different countries.
This is the case for Gucci products. From the study, it is clear that my purchases are mostly from two countries. The domination of China and the United states is another significant finding. Finally although I reside in the United States, it is evident that majority of my purchases are not domestic. The issue of transference of intellectual property also came up in this research.
Effects of globalization
Globalization has indeed had various effects on my purchasing decisions. For instance, when making major purchases I often favor products that have their origin in the United States. However, due to globalization most of such products have started being manufactured in countries other than the United States.
This development is mostly brought about by issues of cost and production volumes. China seems to be benefiting most from this effect. Products like the Macbook are the brainchild of the United States but are manufactured in China. No matter how one looks at this scenario this effect of globalization is set to Impact the country of origin negatively.
Another effect of globalization that is illuminated by this research is the issue of global recognition. Some products have a good reputation around the world. This means one may have to forego domestic products and instead choose products with a more global outlook. This is indicated by my choice of Gucci products.
The recognition of the brand around the world was my main motivation. This can be a negative or positive effect depending on how one looks at it. Positive in that it promotes the concept of the world as a single marketplace, and negative because one country ends up with most benefits. In this case, these purchases benefited both Italy and United States’ economies.
Given that China is a major beneficiary in the purchases listed above, the effects of globalization on both developed and developing countries have to be addressed. The cost of production for a Macbook Air is significantly lower in China than in the United States. However, while producing it in China benefits the manufacturer; it does not benefit the country of origin economically. This practice of foreign sourcing is usually cited as having negative effects on an economy. On the flipside, the practice is known for prompting free trade.
This study sheds light on the effects of globalization on purchasing habits. The results indicate that globalization has both positive and negative effects pertaining to purchasing. The debate is set to continue though on what measures should be employed to curb the negative effects of globalization.