This research paper critically examines article entitled ‘Globalization in the Age of Trump’ published by Ghemawat Pankaj. Variations in regions and amount of local rivalry have given rise to different organizations to benefit from the adaptation plan excessively. Global organization needs to concentrate on utilization of other global strategies, not present to locals that include aggregation and arbitrage (Ghemawat 2017, p. 16). The impact that comes with the continuous changes in globalization is not that significant, and globalization is therefore not lost. All organization that operates in different markets has to rely on idea of globalization (Ghemawat 2017, p. 297). Trump during his presidential campaign blamed different people such as immigrant for having massive impact on trade operations around the US. Therefore, principal aim of this research article is to discuss ideas as they are presented in the section entitled “Globalization in the Age of Trump” with comparison to other literature works.
There is so much for business leaders to take advantage of as well as to deal with complete shuttering of global trade to expand outside their national territory. Trump worked to discuss new two-sided deals that aimed at promoting American industry while protecting workers within the US while raising American wages (Selliva 2018, p. 13). The critical concept during the campaign by Donald Trump was to ensure that people within the community concentrate on ideas of practicing globalization in way that tend to minimize harm while maximizing benefit among companies and states.
Trump was able to trigger war on international trade, where the policies he proposed tend to be against standing of US as the most exceptional global leader in business operations (Mason 2018, p. 27). Trump regulation has made business leaders scramble with the aim of adjusting in their actions. Laws have made the fiction of the world that is borderless to come rolling down. Moreover, cases of established posts of open marketplaces within US and UK are now shaking, and China is posing its operations as staunchest defender of instances of globalization (Godson and Wirtz 2014, p. 5). Two major issues that were underlined during the campaign include weak growth in average household since the twist of the century. The other reasons include continued loss of jobs in sector that deals with manufacturing and manifest wealth of the top one percent revenue collection (Ball 2018, p. 26). Globalization has conveyed considerable profit to various financial systems around the US, and its influence on competitiveness of corporations in developing nations remains a substantial challenge.
The merits from global trade far outweigh any feasible economic forecast that can be attained through Protectionism. Although there are advantages and disadvantages to both, there is no denying that globalization has had the massive impact on global technological advancement, and without global business, people would fail to attain the vital advancements required to obtain different species. On a diverse tack, certain ecologists worry that global organizations may escape ecological safety regulations by moving their invention to nations with free or fictional contamination standards for duties. Some politicians worry that their country may become overly dependent on vital imported goods (Yemini 2017, p. 293). All of these fears affect authority to reach similar fundamental policy conclusion. The conclusion aimed at protecting national interests that looked at whether trade, jobs, or safety, imports of overseas goods should be controlled.
Different authorities are encouraged to limit and alter outcomes of market for social or political ends. While authorities can limit the rise in costs of some commodities, they cannot control amount people want to purchase or how much organizations are willing to sell. The breaking of globalization’s initial wave in past century is proof that the forces of global economic integration are still neither irreversible nor irresistible. The questions relevant to how to connect community are becoming gradually more famous among different agenda of Trump on how to compete in the market. Organizations have previously treated connections with authorities, media, and community as the reflection in arranging business strategies. In most instances, organizations are controlled to advance in their operations due to globalization that occurs by a range of factors (Lee 2018, p. 181). For instance, reaction aligned with globalization is also found in criticism against significant operations of business. However, it remains rigid to offer easy directions concerning how to deal with cases of difficulties as principle of semi-globalization does propose the single order as well as a single insight.
The author of ‘Globalization in the Age of Trump’ records that international activity remains to be much less intense compared to national action along with global interactions dampened by distance. Modern literature discloses that sustainable growth continues to expand great fame in plan debates. Therefore, globalization is the term that has turned out to be very common and applies to various frameworks (Guarneri and Wirtz 2014, p. 5). The author of the article defined globalization as mounting incorporation that exists amongst goods, capital, and services in markets. The main message that the author of the article tries to convey is that even though instance of globalization is experiencing different issues in present business operations, the idea of turning away from globalization altogether remains to be unwise, counterproductive, and overreacted decision (Mounk 2018, p. 86). According to sediment by Ghemawat (2017, p. 298), it is misperception that inequality is to be blamed on globalization rather than policies of people in authority.
The author suggested that the international openness need to be joined with embattled systems within local country in focusing on regional influences that might come with globalization. The author of ‘Globalization in the Age of Trump’ suggested that effects of globalization relied on the ability of firm to study, innovate, and improve its structure operations within US. In contrast, a more subtle change in globalization strategy is necessary. There is need for global leaders to oppose the view that the international corporation has to participate in each marketplace (Aman Jr 2018, p. 566). Furthermore, global strategy should always focus on retaining core power in aggregation, meanwhile damping organization’s prior stress on arbitrage while turning to be adaptive.
It is evident that globalization is a favorite catchphrase of US politicians. Globalization is always used as shorthand approach of relating the connectedness and spread of communication, manufacture, and different skills across entire universe. Globalization comprises of diffusion of different exercises, ideas, and abilities. According to Edward (2018, p. 132), globalization is the increase of global relations that connect distant areas in a manner that local actions are twisted by events occurring several miles in far places and vice versa. Globalization is radically different from preceding theories. Addition to globalization, other principal arguments of expansion include innovation, global systems, and reliance.
As different organizations evaluate their strategies of globalization in radiance of protectionist forces, leaders have to focus on ideas that affect their structural changes that can aid them to increase performance in markets. According to survey by Posen (2018, p. 33), aggregations together with arbitrage are worth highlighting as they comprise of region-based and front-back structure. For instance, region-based structure helps company to organize its operations according to region. It makes different companies take advantage of the cases of similarities between neighboring nations (Escalera 2068, p. 82). It supports integration that exists in research and design products to support purposes for operations of companies during changes in market activities.
Globalization has ensured that companies need to renovate their pledge to different devices that reinforce connective tissues all through operations of firm. The strength can make different companies to have strong culture, mobility, and diversity to face changes in business environment as a result of globalization (Posen 2018, p. 29). Various companies around the globe in present times need to intensify their spotlight on cosmopolitanism in pinnacle management. The idea is perhaps the interior dimension that works along with large corporations to remain to be least globalized (Sullivan 2018, p. 12). Therefore, it is necessary for different leaders of organizations to oppose the design that an international company has to aim at in the current marketplace.
For any company to be actively involved in doing business in diverse markets, they need to figure out mix tactics being used. The plan changed should be in response to the company’s protectionist pressures (Kamer et al., 2017, p. 7). Companies in most cases can utilize adjustment when they need to regulate differences in cross-nation for their operations to be receptive. Companies can compete to attain wealthy of scale together with span that expands across different boundaries internationally. These strategies can be applied by any company to help them in exploiting differences that include low costs of labor in a given state or better incentives of tax in another country around global marketplace (Hu and Spence 2017, p. 58). How different companies utilize these three strategies will shift somewhat in the protectionist globe, but perhaps less than how an individual might thought in real sense.
Most apparent approach for any organization to adapt on globalized world is to focus on variation of policies, products, and positioning of market among other ways. Each distinct mutation used by the company increases operational costs and their complexity in operations (Ghemawat 2017, p. 298). Therefore, global organizations need to utilize other global strategies that are not available to different locals. With the presence of collection of some functions, global organizations can attain some scale, knowledge, and scope economies (Narine 2018, p. 63). However, companies can be capable of shopping for capabilities or resources in those geographies where they are cheap, or conditions are likely to be favorable.
Conclusion
From the above discussion, the author of “Globalization in the Age of Trump” provided a well-planned argumentation that is simple to follow concerning how current political matters in US have influenced globalization. According to the article, domestic operations for companies are on the rise, but globalization has barely been affected. These differences among nations along with intensity of local competition has made companies focus on process of adopting varied strategies to help them in fighting local competitors. International companies need to utilize different global strategies that are not available to local people. Such ideas are essential as they can help various international companies to improve their economies of scale and scope. Moreover, organizations can embrace the idea of searching for resources in diverse locations at a lower price in the hope that this will be more efficient when compared to their local marketplaces. There is no single agreed definition of globalization according to “Globalization in the Age of Trump.”
References
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