Saranillo, John Kenneth N.

The world consists of individuals experiencing financial condition and people who
aren't. Those that are a lot of privileged are those having institutions, companies, and
competitors. These reasonably individuals thrive exhausting to get on high of their
competitors. This then results the existence of economic and trade globalisation. Blessed
are these individuals collaborating such globalisation for they may get richer, although
those that are less privilege will profit additionally however not the maximum amount
because the latter mentioned individuals. because it was mentioned in an exceedingly
book that Economic globalisation has helped range of individuals get out from extreme
financial condition. one in every of the simplest approach is to create them participate
within the economy. however what depressive is that, these less privilege individuals
simply wasted the chance by not outlay their cash to relevant things that might facilitate
them in future. This sets that, the matter within the world isn't concerning the method
happening in it however the individuals collaborating during this process.

On the previous topic, we all know that the various nations are divided between
the North and therefore the South, the developed and less developed countries, the rich
and poor country plenty more. These variations boil all the way down to one purpose that
is especially referred to as the global economic inequality. There are 2 main types of
these inequality: wealth inequality that refers to the distribution of assets of a country and
financial gain inequality which is that the distribution of the new earnings of a country, it
values the flow of products and services, and not on the stock of assets of the country. it
had been then reported that the global wealth of these days isn't distributed equally.
Those countries who were ready to acquire massive assets were also able to increase
their wealth and people who don't have remains still. however although this is what
happens, several economists also believe that through the increase of technology,
somehow the world’s poorest individuals gained one thing despite the fact that people
who are already wealthy becomes richer at the end of the day.

The idea of the third world and global south is somewhat similar, since each
global stratifications are relating those countries that are underdeveloped and developing,
and are less industrial. This global stratification are both inaccurate for the explanation
that a lot of countries tagged as the global South and third world are already developed
and industrial countries like Australia, South Africa, and Chile and same goes for the
countries labeled global North that are still developing countries Haiti, Nepal, Afghanistan,
and many of the countries in northern Africa.It was also then told that dating back from
the cold war, there are 3 distinct political and economic blocks that rise, the “First World”
that were called the Western Capitalist, “Second World” that were the soviet union and
its allies, and also the rest who weren't a part of the 2 worlds are called the “Third World”.
The “Second World was dissolved when the cold war finished however the other 2 world
remains. The “First World” associates with wealthy and industrial countries whereas the
latter sorted with those countries who were less lucky. This distinction of worlds has
recognized from their economic variations up till its racial difference.

As for the global city situation it had been mentioned in the book that the
globalization has deeply altered North-South relations in agriculture. this is often due to
global agricultural business and industrial plant farms. it's not the only one altered here,
the social production also due to Rural economies are exposed to low prices and mass
immigration. globalization is also useful to some however an enormous downside to
others. Blessed are those places that are developed already. For they can already coped
up with the changes that come in the way. The rural and urban differentiation has vital
relationship to globalization since globalization has altered the relation of North-South in
agriculture. The South produces non-traditional products for export and therefore become
progressively dependent on the industrial and commercial food products export from the
North. This cause the displacement and lose of native farmers provisioning healthy and
ancient food products.
Sibi, Emmanuel John

In a world comprises of individuals encountering neediness and the individuals

who are definitely not. The individuals who are progressively giving ideas and thoughts
of what is society’s sense of right and wrong, special are those having foundations,
organizations, and contenders. The within sorts of individuals flourish hard to be over their
rivals. These at that point results the presence of monetary and exchange globalization.
Favored are these individuals taking an interest such globalization for they could get more
extravagant, however the individuals who are less benefit can profit likewise yet not as
much as the last referenced individuals.

As it was referenced in a book that Economic Globalization has helped number of

individuals get out from outrageous neediness. Extraordinary compared to other route is
to cause them to take an interest in the economy. In any case, disheartening that, these
less benefit individuals simply squandered the open door by not spending their cash to
applicable things that could help them in long haul. This sets, the issue on the planet isn't
about the procedure occurring in it however the individuals taking an interest in this
procedure.

These sorts of imbalances do exist in light of the fact that at Industrial Revolution
(B. Milanovic, 2011). This helps both named nations, yet at the same time the hole is very
flaunted and as time goes by the disheartening part is that the hole is enlarging. worldwide
Economic Inequality is a key part of imbalance in the contemporary world that could be
reflected by these distinctions: Nations in North and South, created and less created, and
the center and the fringe. These has two primary sorts: the riches and the Income
Inequality. The two has huge contrasts as riches alludes to the new profit about a nation.
In this way, pay imbalance implies new income are being conveyed, it esteems the
products and enterprises.

In the intervening time, a few people who recognize nations into nations that are
industrialized, that those politically and monetary solidness that can be elevated amounts
of human wellbeing and into those nations that don't have the referenced qualities. The
last referenced is being set as a standard to people. In which the way individual’s
personality nations have advanced after some time since the Cold War period. At that
point has hauled to the present occasions.

As Individuals have marked nations as First, Second, and Third World chain of
giving importance. The First, Second and Third World terms were utilized to recognize
and separate just and socialist nations and those that don't have a place with either vote
based or socialist nations. The First World are those vote based and industrialized
nations, for example, North America, Western Europe, Japan, and Australia. The Second
World are those nations that are socialist communist, for example, the Soviet Union,
Eastern Europe and China.
 The Third World then again, are those nations that did not line up with either the
First World or Second World nations after World War II and are commonly depicted as
less-created nations. The Third World incorporated the creating countries of Africa, Asia,
and Latin America and other in excess of a hundred nations named as poor and less-
created nations.

On my perspective of my thoughts, the naming is very irrational for it makes the

individual spot feel frailties and be substandard from the more benefit places. This is a
foolish sort of setting standard in this world. Give us a chance to put into thought that
there is no marked spot and would be certainly tranquil spot to live. No compelling reason
to feel second rate among others, simply be a nation and lived by individuals. Accordingly,
naming such spot as third, second, and third could be excessively a long way from a
decent point.

Worldwide city or specified as a globalization city, has urban focus that appreciates
noteworthy upper hands and that fills in as a center point inside a globalized monetary
framework. The term has its starting points in research on urban areas completed during
the 1980s, which analyzed the regular attributes of the world's most significant urban
communities. Nonetheless, with expanded consideration being paid to procedures of
globalization during resulting years, these world urban areas came to be known as
worldwide urban communities. Connected with globalization was the possibility of spatial
rearrangement and the theory that urban areas were getting to be key rationale inside
worldwide systems of creation, account, and media communications.

In a certain definition of the worldwide city proposition, at that point, such urban
communities are viewed as the structure squares of globalization. All the while, these
urban communities were ending up recently advantaged destinations of nearby
governmental issues inside the setting of a more extensive undertaking to reconfigure
state organizations.

Saskia Sassen (2001) stated that in the age of globalization the activities of
production are scattered on a global basis. It gives definition that has long hit with me. In
a short structure, in the time of globalization, the exercises of creation are dissipated on
a worldwide premised. These complex, globalized creation systems require new types of
money related and maker administrations to oversee them. These administrations are
frequently perplexing and require profoundly specific abilities. Along these lines they are
liable to agglomeration financial matters, and will in general group in a set number of
urban communities. Since particular ability and firms identified with various claims to fame
can bunch in various urban communities, this implies there are really a many of these
specific generation hubs, since they don't really straightforwardly contend with one
another, having various groupings of strengths.

In this world at that point, a worldwide city is a huge generation purpose of specific
budgetary and maker benefits that make the globalized economy run. Sassen secured
explicitly New York, London, and Tokyo in her book, however there are a lot of more
worldwide urban areas than this.

In this well-mannered, according to Bauman (2003) saying the most severely

affected by global problems city. So as to evaluate urban communities' worldwide impact,
we saw eight factors: the measure of remote direct speculation they have pulled in; the
centralization of corporate base camp; what number of specific business specialties they
command; air network (simplicity of movement to other worldwide urban communities);
quality of maker administrations; budgetary administrations; innovation and media
control; and racial decent variety. (Snap here for an increasingly definite portrayal of our
philosophy.) We found those components especially significant in recognizing rising stars
that, sometime in the future, may challenge the present authority of our two top-positioned
worldwide urban areas, London and New York dealing locally with global problems.

By showing the characteristics by composing the time and temporalizations

procedures, congruity and alterability, permanency and periodicity are for the most part
now and again more, in some cases less unmistakably laid out however constantly
present topics in his examinations of advancement, postmodernity, globalization,
utilization, buyer society, contemporary social polarization, and the state of the socially
prohibited. This repetitive nearness of the transient measurement in Bauman's
compositions implies that his whole work can be seen as a unique, multidimensional,
cognizant, reliable and furthermore intriguing voice on schedule and its changes in our
present world. Bauman's commitment to the fleeting investigation of our age is introduced
against the more extensive scenery of contemporary reflection on the issue of time.
Hoyumpa, Christian Arnul C.

What Hans Rosling said is very meaningful, according to him “The 1 to 2 billion
poorest in the world who don’t have food for the day suffer from the worst disease, global
deficiency. The way globalization is occurring could be much better, but the worst thing
is not being part of it”. Global deficiency is used to describe the condition that occurs
during the development period of a child. What Rosling wants to emphasize here is that
the rich are getting richer while the poor is getting poorer, only those on the higher class
of the society can experience the good effects of globalization. Also I want to highlight the
term multiplier effect which has a big impact on the economy of one’s country. For
instance, if a corporation builds a factory, it will employ construction workers and their
suppliers as well as those who work in the factory.

But there are people who don’t appreciate economic globalization and I can get
their point that there are some countries that do not follow the rules and this is not new
for me because as Filipinos we are famously known as overseas workers and many of
our fellowmen did not receive safe working conditions and others are mistreated. But as
mentioned in the book that there are possible ways that workers would not be horribly
mistreated. For instance here in the Philippines we have departments that would assure
safety for our overseas Filipino workers.

I agree to what the book said about globalization and inequality are closely related.
There is really a inequality between the distribution of the country’s income in the form of
flow of goods and services. We can’t deny that there are people in the government that
thinks only for himself than for the betterment of everyone. And also workers of today’s
generation have more experience in working with technology compared unskilled
workers. As a result, those skilled workers can choose the job they want while those who
are uneducated will be replaced by machines that’s why they settle for low skills jobs that
also have low minimum wage. This is the reason why there is a widening gap between
the rich and poor, where as I stated on the first paragraph that the rich is becoming richer
while the poor is becoming poorer.

I like how they cleared the confusion because people usually stereotype that you’re
your country is poor when it belongs to the Third World. But actually First World are
Western Capitalist Countries for example United States and Japan, on the other hand
Second World are countries that belong to the Soviet Union and its allies and lastly those
countries who don’t belong to the first two belongs to the Third World.

Bauman claimed that cities that are major beneficiaries of globalization are the
ones who are most affected of global problems because global problems reach them first
compared to cities who are less beneficiary of globalization and also they are more
dependent of globalization.
Bullecer, Erlien Jane T.

Economic globalization refers to the increasing interdependence of

world economies as a result of the growing scale of cross-border trade of commodities
and services, flow of international capital and wide and rapid spread of technologies.
People who are monsters in business give everything they had to outmaneuver their
competitors and to stay at the top. In economic globalization, there’s this what they called
the multiplier effect which simply means that the increase of economic activity of the other
country may lead to an increase to the others. This is why many believe that economic
globalization helped millions of people to get out of extreme poverty because it opens to
more opportunity of getting a job and having a stable income. It is great way for those
developing countries because it creates a more stable foundation for their economic
status. Through the help of their neighboring countries, those developing countries can
actually be on the top of those other countries.

On the previous topic, we know that the different nations are divided between the
North and the South, the developed and less developed countries, the wealthy and poor
country and many more. These differences boil down to one point which is mainly known
as the global economic inequality. There are two main types of these inequality: wealth
inequality which refers to the distribution of assets of a country and income inequality
which is the distribution of the new earnings of a country, it values the flow of goods and
services, and not on the stock of assets of the country. It was then reported that the global
wealth of today is not distributed equally. Those countries who were able to acquire large
assets were also able to increase their wealth and those who do not have remains still.
But though this is what happens, many economists also believe that through the rise of
technology, somehow the world’s poorest people gained something even though those
who are already rich becomes richer at the end of the day.

It was also then told that dating back from the cold war, there are three distinct
political and economic blocks that rise, the “First World” which were known as the Western
Capitalist, “Second World” which were the Soviet Union and its allies, and the rest who
were not part of the two worlds are known as the “Third World”. The “Second World was
dissolved after the cold war ended but the other two world remains. The “First World”
associates with rich and industrialized countries while the latter grouped with those
countries who were less fortunate. This distinction of worlds has pointed out from their
economic differences up until its racial inequality.

A global city is a city that has the power to effect global issues and change the
global outlook. Each city has a distinct amount of power that can gradually affect and
influence the other city. Since New York, London and Tokyo are considered as Alpha
cities because they have proven its economic stability and have significant global
advantage to other cities it perfectly suits as a prime example for Sassen to explain further
the concept of global city. These cities have a great amount of power to affect other cities
in terms of global economy because they are big cities who had a stable economy. Their
economic status won’t waiver even though their neighboring cities are in deep miseries.

Initially, global cities were ranked depending on their size. But today, several
factors other than the size of the city are being considered. One of these factors is that
they should be also centers of innovation, boast of well-developed infrastructure, large
population of employed people and act as the centers of communication of global news.
In addition, cities should also prove to others that they can stand alone even without the
help of other big cities within their reach.

According to McMichael, the relations of agricultural production have been altered

due to the rise of global agribusiness and factory farms. The relations of North-South had
been altered in terms of agriculture since the South became dependent to the exports
from the North causing it to the replacements of products as well as the displacement of
the local farmers. In this scenario, we can see the effect of global city, the South which is
considered as the big city that can greatly influence the other city because it is more
powerful than the other.
Bejano, Charlene A.

The world consists of people experiencing poverty and those who are not. Those
who are more privileged are those having establishments, companies, and competitors.
These kind of people thrive hard to be on top of their competitors. This then results the
existence of economic and trade globalization. Blessed are these people participating
such globalization for they could get richer, though those who are less privilege can
benefit also but not as much as the latter mentioned people. As it was mentioned in a
book that Economic Globalization has helped number of people get out from extreme
poverty. One of the best way is to make them participate in the economy. But what
saddening is that, these less privilege people just wasted the opportunity by not spending
their money to relevant things that could help them in long term. This sets that, the
problem in the world is not about the process happening in it but the people participating
in this process.

Global Economic Inequality is a key aspect of inequality in the contemporary world

that could be reflected by these differences: Nations in North and South, developed and
less developed, and the core and the periphery. This has two main types: the wealth and
the Income Inequality. The two has significant differences as wealth refers to the new
earnings about a country. Thus, income inequality means new earnings are being
distributed, it values the goods and services. These kind of inequalities do exist because
at Industrial Revolution(B. Milanovic, 2011). This helps both labeled countries, but still the
gap is quite shown off and as time passes by the saddening part is that the gap is
widening.

Meanwhile, some people identify countries into countries that are industrialized,
those politically and economic stability, high levels of human health and into those
countries that do not have the mentioned characteristics. The latter mentioned is being
set as a standard to human beings. In which thee way people identity countries have
evolved over time since the Cold War era. Then has dragged to the present times. People
have labeled countries as First, Second, and Third World hierarchy. The First, Second
and Third World terms were used to identify and differentiate democratic and communist
countries and those that do not belong to either democratic or communist countries. The
First World are those democratic and industrialized countries, such as North America,
Western Europe, Japan, and Australia. The Second World are those countries that are
communist-socialist, such as the Soviet Union, Eastern Europe and China. The Third
World on the other hand, are those countries that did not align with either the First World
or Second World countries after World War II and are generally described as less-
developed countries. The Third World included the developing nations of Africa, Asia, and
Latin America and other more than a hundred countries labeled as poor and less-
developed countries. For me, the labeling is quite unreasonable for it causes the
individual place to feel insecurities and be inferior from the more privilege places. This is
an absurd kind of setting standard in this world. Let us put into consideration that there is
no labeled place and would be definitely peaceful place to live. No need to feel inferior
among others, just be a country and lived by people. Thus, labeling such place as third,
second, and third could be way too far from a good point.

As for the Global City scenario it was mentioned in the book that the globalization
has deeply altered North-South relations in agriculture. This is due to global agribusiness
and factory farms(McMichael, 2007). It is not the only one altered here, the social
production as well due to Rural economies are exposed to low prices and mass
immigration. Globalization may be beneficial to some but a big problem to others. Blessed
are those places which are developed already. For they can already coped up with the
changes that come in the way. Meanwhile, for those cities which were less privilege or
the developing cities are greatly affected as well. But, this term globalization has already
in the way, all people could do is to just let be in that flow and live as much as we can.
Sequiño, Jay Ann

Economic globalization refers to the international movement of goods, services,

capital, technology and information. It is the increasing interdependence of the national,
regional and local economies and is intensified through cross-border movement of goods
and services. The purpose of economic globalization is to increase the rate of
development in less developed countries and to maintain economic progress to
developed countries. Development would then be the main driver for the increase of the
rate of poverty reduction and economic inequality.

Globalization and inequality are two closely related things. I agree to this because,
while globalization has helped people get out of extreme poverty by enabling them to
participate in the economy, it is also one of the drivers of inequality in the idea of nations
divided between North and South, developed and less developed. Inequality has caused
the rich to become richer and the poor becoming poorer, increasing the gap between the
rich and poor countries. Globalization as to its purpose to increase development and
reduce poverty rate in every country but with the state of the system nowadays, where
there is an increase access to technology and more technology-dependent jobs, it highly
contributes to income inequality. Educated people and skilled workers get high wages for
getting better jobs while workers with low educational background would fall unto low
wages and very hazardous jobs to sustain the family needs. Income inequality have
increased where the poorest 10% of people went from having zero assets to being $1,000
in debt while families in the middle more than doubled their prior average wealth, families
in the top 10% had more than five times the prior wealth and families in the top 1% had
more than seven times their prior wealth (Kopp, 2019). Which indicates that families who
are already wealthy have been accumulating more wealth compared to those families
striving to survive each day.

The idea of the third world and global south is somewhat similar, since both global
stratifications are pertaining to those countries that are underdeveloped and developing,
and are less industrialized. This global stratification are both inaccurate for the reason
that many countries labeled as the Global South and Third World are already developed
and industrialized countries like Australia, South Africa, and Chile and same goes for the
countries labeled Global North that are still developing countries Haiti, Nepal,
Afghanistan, and many of the countries in northern Africa.

The rural and urban differentiation has significant relationship to globalization since
globalization has altered the relation of North-South in agriculture. The South produces
non-traditional products for export and thus become increasingly dependent on the
industrialized and commercialized food products export from the North. This cause the
displacement and lose of local farmers provisioning healthy and traditional food products.
 Economic Globalization, Poverty, and Inequality

One of the most contentious issues of globalization is the effect of global economic
integration on inequality and poverty. This article documents five trends in the modern
era of globalization, starting around 1980. The first trend is that growth rates in poor
economies have accelerated and are higher than growth rates in rich countries for the
first time in modern history. Developing countries' per capita incomes grew more than 3.5
percent a year in the 1990s. Second, the number of extremely poor people in the world
has declined significantly--by 375 million people since 1981--for the time in history. The
share of people in developing economies living on less than $1 a day has been cut in half
since 1981, though the decline in the share living on less than $2 per day was much less
dramatic. Third, global inequality has declined modestly, reversing a 200-year trend
toward higher inequality. Fourth, within-country inequality in general is not growing,
though it has risen in several populous countries (China, India, the United States). Fifth,
wage inequality is rising worldwide. This may seem to contradict the fourth trend, but it
does not because there is no simple link between wage inequality and household income
inequality. Furthermore, the trends toward faster growth and poverty reduction are
strongest in developing economies that have integrated with the global economy most
rapidly, which supports the view that integration has been a positive force for improving
the lives of people in developing areas.

Global Income Inequality

The inequality and globalization were closely related, as being seen the differences
in between North and South, developed and less developed, and the core and the
periphery. By this, the global economic inequality that is a key aspect of inequality in the
contemporary world was being reflected by the above mentioned differences. There are
two main types of economic inequality: wealth and income inequality. Wealth refers to the
net worth of a country and, the assets of a nation, natural, physical, and human and also
less liabilities. It also the abundance of resources of a specific country. Thus wealth
inequality refers to the distribution of assets. Meanwhile, income is the new earnings that
are constantly added to the pile of the country’s wealth. Thus, Income inequality means
new earning being distributed. As Global Wealth Report 2006 said l, today’s global wealth
estimated to be about 3.5 trillion dollars and it is not distributed equally. It further said that
income inequality continues to rise.

Branco Milanovic(2011), an economist who describes ‘economic big bang’ as

differences between countries were caused by Industrial Revolution. It was mentioned
that the gap between the richest and poorest nations are greater today that the past. For
instance, in 1820, the Great Britain and Netherlands were only three times richer than
India and China, but today the ratio is 100:1(Milanovic,2011).

Economic and International trades are the forces responsible in today’s global
income inequality. It was said that the poorest people have benefits to globalization but
the richest people gained more. Furthermore, access to technology or latest innovations
also contributed to worldwide income inequality. Unskilled workers will fall behind, left or
overtaken by machines or more skilled workers. Also, manufacturing jobs that require low
skills are moved overseas. As a result, there is a wide gap existing between high skilled
and low-skilled workers.

The Third World and the Global South

People identify countries into countries that are industrialized, having political and
economic stability, high levels of human health and into those countries that do not have
the mentioned characteristics. The way we identity countries have evolved over time
since the Cold War era. People have labeled countries as First, Second, and Third World
hierarchy. The First, Second and Third World terms were used to identify and differentiate
democratic and communist countries and those that do not belong to either democratic
or communist countries. The First World are those democratic and industrialized
countries, such as North America, Western Europe, Japan, and Australia. The Second
World are those countries that are communist-socialist, such as the Soviet Union, Eastern
Europe and China. The Third World on the other hand, are those countries that did not
align with either the First World or Second World countries after World War II and are
generally described as less-developed countries. The Third World included the
developing nations of Africa, Asia, and Latin America and other more than a hundred
countries labeled as poor and less-developed countries.

The terms “First World”, “Second World” and “Third World” are outdated and
inaccurate since countries have different levels of stability may it be in economic and
political aspects. Some countries labeled as third world countries even have higher
economic productivity than other countries labeled as first or second world.

Another world classification was created to describe countries, a simpler

classification, the Global North and the Global South. The Global North are the countries
north of the equator or the Northern Hemisphere, and the Global South are those
countries south of the equator. The Global North is described as rich and developed
countries, more industrialized and advanced. The Global South on the other hand, is
described as the poor, less developed, developing or underdeveloped countries. But the
issue in this classification is that many countries in the global north are less developed
and/or developing countries such as Haiti, Nepal, Afghanistan, and many of the countries
in northern Africa. And many countries of the global south are well-developed countries
including Australia, South Africa, and Chile.

The Global City

A global city is a city that plays a significant role in the global economic system.
Cities are centers of innovation and businesses. They portray the economic, social, and
political state of the country and its people. Cities are categorized differently depending
on the role they play on the global scene.

The rural-urban differentiation has a significant relationship to globalization.

Globalization has deeply altered North-South relations in agriculture. This leads to a
replacement of the staple diet as well as the displacement of local farmers. Schlosser
(2005) pointed out that as commercial agriculture replaces local provisioning, the relations
of social production are also altered.

Saskia Sassen (2001) stated that in the age of globalization the activities of
production are scattered on a global basis. She also used the concept of global cities to
describe the three urban centers of New York, London, and Tokyo as economic Centers
that exert control over the world’s political economy.

Although cities are significant beneficiaries of globalization, according to Bauman

(2003) that they are also the most severely affected by global problems. Therefore, the
city faces peculiar political problems, wherein it is often fruitlessly seeking to deal locally
with global problems.