The phenomenon of globalization

This phenomenon of globalization achieved its heights in the 1990’s and introduced the largest increase of trade in the history of the world. The globalization can be considered as an outcome of discrediting communism and the excessive harnessing of fortunes by nations to the newly introduced global markets.

Within the United States, Democratic as well as Republican administrations embrace unshackled globalization over the dissents of organized labor. The foremost real examination of globalization for America happened in 1993, with the execution of NAFTA. The NAFTA’s scope was the North American nations of Mexico, Canada and the United States. It was drafted and substantially afoot during the presidential term of George H. W. Bush, although it was completely enforced under the regime of Bill Clinton. This trade organization received substantial endorsement by Wall Street and business leaders but was excessively criticized by labor leaders of the United States. It was Clinton plans that won during the election campaigns in 1992 which provided that NAFTA is needed to be implemented but it should force Mexico to increase pollution and labor standards in order to make them parallel to the U. S. standards. Therefore the basis of this unrestricted trade was set and the U. S policy makers can be attributed as its authors and directors (Heights Production Inc.).