Impact of the global economy on laborThe global economy has had a considerable impact on the workforce, affecting each country in its own way, whether it is outsourcing, relocation or unemployment. The term global economy means the integration of the global economy through trade, production and distribution while consuming goods and services. Globalization has gradually become integrated into all countries, and the United States has seen a rise in diverse ethnic, economic, and religious groups working together in daily tasks. Although the United States has benefited from its leadership role in the global economy, it continues to face global competition. The United States has seen its position in the global economy threatened by the BRICs – Brazil, Russia, India and China, because they can provide labor more cheaply than the United States can supply domestically. China's economic power is on the rise, with a greater number of graduates and doctorates, strong innovation and a firm stance on reshaping the future of the global economy. The important role played by the United States in the global economy is now threatened by increasing competition for jobs and investment from China, whose country is booming. The BRIC countries have developed rapidly and efficiently, which has had a great impact on the global economy. . The United States quickly outsourced and offshored millions of domestic jobs that could be done more cheaply to countries like India and China. Labor in these two countries will cost a fraction of what it costs to produce and assemble in the United States. China's cheap labor has become an important advantage for the nation, not only increasing the country's employment rate, but also contributing more to its economy... middle of paper... later or later remains to be determined. The positive effects on a global scale of China's crossing of the Lewis turning point are numerous; increase in raw material production, increase in domestic employment, more regional economies join China's trade chain. Das, Mitali and Papa N'Diaye. “The end of cheap labor”. IMF. Np, and Web. November 14, 2013. .2. "World Development Indicators - Google Public Data Explorer." World Development Indicators - Google Public Data Explorer. Np, and Web. November 18, 2013. .3. ACS. “Growth and China: China is approaching a turning point.” The economist. Journal The Economist, nd Web. November 20. 2013. .