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I have to write an essay on the question what is the most important issue facing the global economy? explain the issue in detail and your reasoning for it being so important.

I chose the topic of globalization. could someone help me figure out a few key points to elaborate on? you don't have to be an expert or anything just a few ideas would be very helpful.

Globalization of what?

You've chosen a way-too-broad topic ( http://www.answers.com/globalization ), but it can be narrowed down.

Car making
Computer chip production
Tech help services
etc., ad infinitum

How will you narrow this down so you can actually work with it??

??

Orchid production, tomato culture, fresh flower production, auto manufacturing, shipbuilding, ship repair, are all topics which have been affected by globalization. Each one could be a nice essay: the impacts on national enconomes, changing transportation of goods (air freight), changing or internationalizing languages, computer systems, and training of work forces....

I didn't know that it was such a broad topic. Well what about the globalization of the trade industry?

Greg..... still tooooooo broad. Think of all the possibilities for "trade". We "trade" everything from apples to zebras. Several things come to mind... what about clothing, cars, computors... just to stick in the C's. All of those things used to be made in the US. Now most clothing is made outside, Toyota just beat the American car industry...and IBM is competing with everything from everywhere. Pick just one "trade" and cover it well.

Sure! If you want to focus on the globalization of the trade industry, here are a few key points you can elaborate on:

1. Increased Interconnectivity: Globalization has facilitated the interconnectedness of economies around the world, leading to an exponential growth in international trade. This has opened up new markets for businesses, allowing for the exchange of goods and services on a global scale.

2. Economic Integration: The trade industry has played a pivotal role in driving economic integration among nations. The establishment of regional trade agreements, such as NAFTA and the European Union, has promoted free trade and removed barriers, such as tariffs, fostering economic cooperation and growth.

3. Global Supply Chains: Globalization has led to the development of intricate global supply chains. As production processes have become spread out across multiple locations, businesses can take advantage of cost efficiencies and access specialized resources. However, this also means that disruptions in one part of the supply chain can have far-reaching consequences.

4. Outsourcing and Offshoring: The trade industry has seen a significant increase in outsourcing and offshoring practices. Many companies have relocated their production facilities to countries with lower labor costs, leading to job displacements in higher-cost countries. This has sparked debates about the impact on domestic employment and income inequality.

5. Trade imbalances: Globalization has led to imbalances in trade between countries, where some nations have persistent trade surpluses while others run large trade deficits. These imbalances can have economic and political implications, as they can lead to tensions and conflicts between trading partners.

6. Impact on Developing Countries: Globalization has had a mixed impact on developing countries. On one hand, it has provided opportunities for economic growth and poverty reduction through increased trade and foreign direct investment. On the other hand, it has also exposed developing countries to volatile global markets and unequal power dynamics.

Remember, these are just a few ideas to get you started. You can further elaborate on each point by providing examples, statistical data, and analyzing the implications and consequences of globalization on the trade industry.