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In the 21st century globalization is an irreversible trend that brings with it a level of
economic expansion, growth, and accessibility that is unprecedented in the history of mankind.
According to Bhasin H. - when we talk about globalization, it is the growing interdependence of
world societies. Globalization is considered to improve the world culturally and also to give
benefits to most people economically. In today's world, Globalization has mostly positive
impacts such as the increase in the exchange of knowledge, trade, and capital around the globe
that can be driven by modernization of technology innovation. Within the least difficult term,
globalization comes from the globe and it implies that the worldwide coming together as nations
and country. In general, there are three factors that have a special role in the globalization
process. These are technology, trade, and investment.
First is Technology, why? Because it makes it easier for people, products, and also ideas
to move across borders. For example, the development of transportation technology. It has
made it possible to deliver amounts of products in a short period of time.
Second is Trade, it's strengthening the interdependence between different countries. The global
markets eliminate trade barriers and also reducing restrictions on inter-nation investments.
The third is Investment because it gives benefits to many countries. Many different countries
experienced the benefits of foreign investments and direct investments. These investments can
create new jobs, companies, and sources of income.
It's hard to argue with the point that globalization makes more goods and services available to
more people, often at lower prices. A new efficient market, other businesses we see in malls are
only branches from other countries like McDonald's, Nike, and many more. Because
globalization establishes businesses in other countries to share culture and target new
customers.
The argument that globalization has lifted people in developing countries out of poverty is
somewhat controversial because opinions differ as to the quantity and quality of the jobs created
by globalization. But the general wisdom is that globalization has increased job opportunities: it
has opened a lot of job opportunities for the people. For example, when a new company hires
new job applicants, then greater the chances that the majority of people will have a job. Indeed,
globalization has an affirmative impact on the country.
In addition, globalization increases cultural awareness.
The Philippine Institute for Development Studies (PIDS) held a conference and Gerardo Sicat
(2019), PhilStar author of Globalization and its challenges wrote that "luckily, the environment
in which we work is also one that enables us to move faster. As individuals and as human
groups, we can act faster because information flows and communications costs are cheaper.
With open access to the changing technologies and the possibilities of attracting capital and
human expertise through trade and population movements, it is possible for a less developed
country that is imaginatively led to leapfrog its development path.
Globalization allows us to learn new talent and gives us new opportunities. For example,
companies are given opportunities to explore and learn new talents across the world to become
booming markets like Apple Inc. having revenue of 268 Dollars.