Bill Clinton and Globalization Research Paper Example | Topics and Well Written Essays - 2500 words

Bill Clinton and Globalization - Research Paper Example Clinton’s main focus was on handling the instability across the world through globalization. The other factors among the list of priorities were innovation and technology, decision making and finance. Integration of the world economy has been one of the prime concerns of Clinton. But the concept of transformation of the globalization into a unified and homogenous structure driven by free trade and capitalism was confronted with serious opposition also. It was said that the entire world has not been able to benefit from globalization and bringing the civil society in the scene was the only way of dealing with the problems. The project tries to bring forth the steps taken by Clinton in initiating outsourcing as a major step towards globalization (Weier-a, 2008). Bill Clinton chaired the â€Å"Global Fairness Initiative (GFI)† (Global Fairness Initiative, 2003, p.1) which was an organization created to introduce and enhance free trade which would simultaneously preserve th e labor, environmental and human rights standards in the world. The promise made by Clinton was to implement responsible investment and trade which would create economic opportunities and jobs across the world and would lead to the improvement of millions of lives while protecting the human rights, environmental and labor standards (Global Fairness Initiative, 2003, p.1). The promotion of outsourcing was one of the major steps towards globalization by Clinton. Outsourcing was considered to be inherent to free trade. Outsourcing was considered to be a new variant and a budget balancing tool which required farming out whenever possible. Clinton recognized that outsourcing would allow firms to provide service at a low cost at a higher quality that which the Government would produce. In the recent years outsourcing has evolved as a positive business evolution which moved towards flexibility and nimbleness Bill Clinton and Globalization It was Bill Clinton’s assumption that global ization was something inevitable. He encouraged the concept of free trade which was a major step towards globalization. He believed that low process would lead to low prices, increased exports and this would eventually build a stronger economy. â€Å"The economic benefits of the tariff reductions we negotiated during the Clinton administration represent the largest tax cut in the history of the world† (Klein, 2003). In 1998, the economic transition which he had predicted long back was actually taking place. The economy was appearing and functioning in such a way that seemed to be beyond imagination few years back. Unemployment rates were falling significantly and the inflation rates seemed to remain at historically low rates. Prosperity was appearing and increasing at all levels of income. The average household income increased by an amount of 35% during the span of eight years that Clinton has remained in office. Technology had changed the conventional notions of time, space and borders. Globalization was able to change the traditional and regular routines of the middle class family. This was a significant transformation according to Clinton (Klein, 2003). He said the globalization would yield a global economy which would have profound effects on workers, their works and their wages. It would