The world has transformed its global economy from domestic and regulated production of the early 20th century to the widespread, unregulated, niche manufacturing of the late 20th to 21st century. Technology, politics, and trade regulations have been the movers and shakers of this radical shift. The world is now dependent on globalized trade and production to both fuel economic growth and keep the economy afloat. This change has had varied effects on countries, with a particular division among global north and global south countries. However, even division within global north countries can be seen. Though the impact of globalization on the world economy has certainly served many advantages, these victories are certainly not balanced and show …show more content…
A case example of manufacturing companies of this era can be found in Galesburg, IL at the Maytag factory. What is now simply miles of empty concrete, used to be the economic center of Galesburg. Pioneered in 1925 by a stern and dedicated businessman, Frederick L. Maytag, the Maytag company followed a business model aligned to the values of Maytag himself, of whom can be described as a man who “believed that good business could not be separated from community-oriented morality” (Broughten, 53). Maytag built a legacy for the company based on this belief. Maytag took care of its workers; provided them with a living wage, curated a connection between workers and their local identity in Galesburg, built connections with its customers, and worked to uphold a legacy with each succession of ownership. However, even by the 1930s, traditions had begun to shift. By the 1970s and 80s manufacturing companies and its workers would be waving goodbye to Fordism …show more content…
In 1993, U.S. president Bill Clinton signed the North American Free Trade Agreement (NAFTA). This meant that the Canadian, American, and Mexican borders now created one of the world’s largest free trade zones. These areas, known as export processing zones, are unique areas where usual trade barriers and regulations are virtually eliminated. For the Mexican/American border, this meant places like Reynosa, Mexico would now become the hub for low-wage manufacturing jobs. The promise of reliable, decently paid jobs in Reynosa was the perfect opportunity for the thousands of rural Mexican farmers displaced by a flooded market of U.S. corn and a sudden withdrawal of government support for agriculture. Though the population of Reynosa is ever expanding and the economy booming, factory workers are struggling to survive in a town where a service economy is severely lacking. Most people barely earn a livable wage, and women are the majority workers, and on average get paid less than men, which is jeopardizing opportunities for future