At one time, Eastman Kodak was the world's largest producer of photographic film, employing nearly 145,000 workers worldwide, including thousands at its headquarters in Rochester, New York. The firm eventually laid off most of those workers because its sales declined as it failed to adjust to digital photography as quickly as many of its foreign competitors. A member of Congress from Rochester described the many new firms that were now located in buildings that were formerly owned by Kodak.
A New York Times columnist concluded, "Which, of course, is precisely the way globalization is supposed to work." Briefly explain what the columnist meant. Do you agree with his conclusion? Does the outcome in Rochester show that globalization is good? Briefly explain.