A rise in the dollar means a drop overseas
In relation to globalization, a New York Times article reported on how a strengthening U.S. dollar can actually hurt foreign markets. In a nutshell, dollars invested in American government bonds means a dollar is taken away from eastern European and African markets as both regions also cope with a global recession.
The article is a clear-cut example of the dangers globalization can have; whatever happens in one geographic region will affect another, including a slumping economy. While focus in the United States targets job losses and the shrinking economy domestically, news outlets will occasionally provide reports of what's happening overseas, where the picture isn't much better. In fact, many economists now rely on Asian market activity (they're ahead in time zones) to predict what will happen with the Dow Jones.
Although the class discussion on globalization has passed, it doesn't mean the topic is irrelevant as many students eye graduation and fear the future with most of the world hurting economically.