Final answer:
Globalization in the 1990s increased income inequality in America, raised job loss concerns due to foreign competition, and offered access to cheaper foreign goods and new investment opportunities for entrepreneurs.
Step-by-step explanation:
In the 1990s, globalization affected Americans in several significant ways. First, it increased the gap between wealthy and poor individuals. As companies sought cheaper labor, high-wage jobs within the United States were lost, contributing to greater socio-economic inequality. Second, there was a rising concern that American workers might lose their jobs to foreign counterparts, particularly from countries where labor costs were lower. This fear was not unfounded as the global labor market became more integrated, posing a direct threat to domestic employment. Third, despite some fears, globalization allowed consumers access to foreign goods at lower prices due to the international sourcing of products, which increased competition and drove down costs.
While one might think that globalization would reduce the selection of foreign goods in the United States, the opposite is true; it actually expanded this variety. Moreover, globalization provided ample investment opportunities for American entrepreneurs looking to venture into new markets or source materials from abroad.