Globalization as defined by Merriam-Webster is the “development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets” (Merriam-Webster Online, “Globalization”). This integration of economies fosters the interconnectedness of the world’s citizens in such a way that many aspects of everyday life are affected by it. The fashion and apparel industries have faced many changes due to globalization and the concept of global sourcing, which is described as the practice in which goods and services are sourced from around the world in order to take advantage of global efficiencies. Over a period of four decades apparel production has shifted from being widely domestic, to international, to global, in order to satisfy the wants and needs of the global consumer while simultaneously generating desired profit margins for businesses due to areas in which large costs can be minimized (Kunz and Garner 4). There are a variety of perspectives in which these two intertwining concepts, globalization and global sourcing, can be viewed including political/government, economics/business, social/labor, as well as cultural standpoints.
Task: Discuss the impact that global sourcing has on global economics and culture.
