What has been the main drawback of globalization for the United States?

• A. A significant decrease in consumer choice
• B. Reduced access to foreign markets for American exports
• C. Loss of manufacturing jobs due to increased competition from abroad
• D. Higher prices for imported goods

Answer: (C)

Verified step by step guidance

1. Understand the concept of globalization: it refers to the increasing integration of economies through trade, investment, and technology, which often leads to more competition and access to global markets.
2. Identify the effects of globalization on the U.S. economy, focusing on key areas such as consumer choice, export opportunities, manufacturing employment, and prices of imported goods.
3. Analyze why consumer choice has generally increased rather than decreased due to globalization, as more foreign goods become available to U.S. consumers.
4. Consider the impact on American exports: globalization tends to open foreign markets rather than reduce access, so this is unlikely to be the main drawback.
5. Focus on the loss of manufacturing jobs, which is a well-documented consequence of increased competition from countries with lower labor costs, leading to job displacement in certain sectors within the U.S.