Heyaboi

BS CRIM 3-F

What do you think is the importance of defining globalization?

 Defining globalization is not only concerned with knowing what does globalization mean in the
dictionary or in Google but more importantly is that we should understand what does it take or what
its impact to our modern world of being a globalized one.

 Globalization drives a country towards progress and development. It affects the nations as a
whole but in exchange, it damages smaller communities and societies.

Globalization is the free movement of goods, services and people across the world in a seamless
and integrated manner. Globalization can be thought of to be the result of the opening up of the
global economy and the concomitant increase in trade between nations

It is very important to study globalization because understanding the contemporary international

political economy is an essential part of being an informed citizen. Understanding globalization is a very
important part of learning about our human involvement with the environment and society. Because
we’re part of the society our daily experiences at school, work, and home are an integral part of the
globalization process. We live in an independent global political economy. The concept of
understanding globalization provides us with the tools necessary to be productive members of our
local and global communities. The purpose of studying globalization to understand the differences and
similarities of different cultures and to understand how we are connected and at the same time
separated from the world. One of the other reasons to study globalization to understand the causes
and effects of globalization and how its influence on politics, economics, and social/culture unite.

Knowing the definitions of globalization can bring the proper knowledge to someone that seeks to
understand what is going on their surroundings and world. It can help us decode the changes that we
are experiencing. Knowing the definition of globalization serves as the starting point that will guide us in
addressing the human society developments. More importantly, the fact that we are experiencing
globalization should give one the interest of engaging in the study.
 YES, because liquidity refers to the increasing ease of movement of people , things, information, and
places in the contemporary world ,because through globalization the industry and management are
develop because of the innovation like tranportation, technology and communication Example We can
easier to access information in internet We can easily travel in outer places because of the
transportation We can easily communicate to our relatives using gadgets

At this point in the semester, which metaphor for globalization from Lule Chapter 3 speaks to you the
most? Choose one of the six metaphors and explain your choice in a couple of sentences. Respond to at
least two of your peers.When it comes to the metaphor that speaks the most to me, it is “globalization
of a networked world”. Examples of this metaphor are in chapter two, where Marshall McLuhan talks
about the Global village. He described it as the media making the world "smaller" and bringing people
closer together (Lule, 14). He also states, "In the light of globalization, the human community becomes
one unit or one small village" (Lule, pg 40). Just in my lifetime, social media has increased
tremendously and has reached many places around the world. You are able to exchange information
in real time with friends, relatives or someone you never met across the glob, using programs like
Instagram, Twitter, Snapchat, Facebook and countless more.

Globalization is change. Change has always been an integral feature of life. With the Age of Discovery,
the effort to convert the world with different religions, especially the most known religions, Islam and
Christianity had already happened thousands of years ago. Although I could also say that change in the
modern world is far different from the change in the past. Only there’s one thing in common to the both
of them: change. Globalization is the most appropriate term for pulling together all the study of all the
multiple currents of social and cultural change in the modern world different from the past. Change is
inevitable and changes makes people flexible. One thing that drives changes is our lust for more power
and knowledge. It comes from our curiosity about everything. Thus, the discovery of technologies that
helps us diverse with people fom different country and culture. And that’s part of globalization
What is the importance of Globalization?
- 1. Globalization is about the interconnectedness of people and businesses across the world
that eventually leads to global cultural, political and economic integration. globalization is an
important concept for students in higher education to understand and appreciate because of
the demand in business and industry to hire people who can work with people of other
nations. Globalization, is where the ability to move and communicate easily with others all
over the world in order to conduct or promote business internationally.
Globalization enhances the student's ability to acquire and utilize knowledge. Globalization
enhances the ability of learners to access, assess, adopt, and apply knowledge, to think
independently to exercise appropriate judgment and to collaborate with others to make
sense of new situations.Globalization including the spread of products, technology,
information, and jobs across national borders and cultures. In economic terms, it describes an
interdependence of nations around the globe fostered through free trade.
Explain the metaphors of Globalization? Cite some examples as you explain your answers.
- Globalization is like a powerful new medicine, one that offers immense possible benefits but
must be used with caution because of the possible side effects. Globalisation is like a two-
way street where exports and imports flow fast. Jump in imports need not cause any fear
since there will be a spurt in exports too
How have you experienced Globalization?
-3. Travel and tourism allows for the globalization of many things, like the exchange of
money, cultures, ideas and knowledge. There are countless options to make travel more
affordable, including budget airlines and low-rate hostels. This allows people to explore
further and wider than was ever possible before. As a student, having money that came from
other country that were given to us from our friends or OFW aunt is part of globalization.
Importing different goods such as chocolates and other foods that was made from different
country is also part of globalization.
….
Globalization refers to the increasing interconnectedness of international trade, and it is driven by technology
and a reduction in trade barriers.

The term globalization refers to the increasingly interconnected nature of international trade. Globalization is
driven by technology and government policies designed to open up free trade. This expansion of markets beyond
domestic economies has brought many benefits to nations around the globe. Firms increasingly have access to
consumers around the globe, and access to new resources can help fuel competition and drive down costs. In
addition, globalization can boost economic development in poorer countries and help raise standards of living.
Outsourcing by large corporations can bring new jobs and technology to these nations, which boosts their
economy. The result can be viewed as higher economic efficiency via globalization and free trade.

Free Trade Agreements

Free trade agreements are agreements that allow participating nations to trade without tariffs and quotas.

Free trade agreements are agreements that allow participating nations to trade without tariffs or quotas. The most
notable example of this type of agreement for the United States is the North American Free Trade Agreement
(NAFTA), a trade agreement among Canada, the United States, and Mexico. A more integrated version of a free
trade agreement is called an economic union. In an economic union, member nations have a free trade agreement,
have a common trade policy with nations outside the union, and coordinate their monetary and fiscal policies. The
best example of an economic union is the European Union (EU), a union of 28 European member states.

Free trade agreements are designed to reduce barriers to trade and allow nations to gear trade toward their
comparative advantages. This leads to higher economic activity, higher overall wage levels, and attainment of a
level of goods and services that would ordinarily be outside the production possibilities frontier. In practice, many
free trade agreements have been very successful. NAFTA was signed into law in 1995, and the United States saw
some of the best job growth and low unemployment in the following six years. Opponents often worry that free
trade will transfer too many jobs from high-income countries to low-income countries, but this notion ignores
comparative advantages, differing labor market compositions, and the fact that many jobs are location-based.
Overall, free trade agreements lower costs and deadweight loss via increased efficiency.

However, some criticisms of free trade agreements are valid. Often, they lead to poor working conditions as
international companies outsource jobs to cheaper labor markets in emerging market countries where there is less
regulation. Even larger countries may lose jobs to outsourcing. In fact, one of the greatest criticisms of NAFTA was
the loss of U.S. jobs to Mexico. Free trade may also lead to depletion of natural resources as emerging market
countries engage in strip mining and deforestation practices in the absence of environmental protections. Further,
smaller countries may lose revenue to import taxes and fees. This may weaken their overall economy.

Effect on Wages
Globalization and free trade allow nations to use their comparative advantages effectively. This can lead to an
increase in wages, although the effects on low-skilled jobs may not be positive.

Globalization and free trade allow producers to best utilize their competitive advantages. This leads to increased
trade, leads to an increased demand for productive workers, and causes the average level of wages in an economy
to rise. However, this does not mean that everybody benefits and that all wages rise. Workers whose industries are
exporting more in the global market will see their wages increase because of demand, but workers who are in an
industry that sees increased competition and imports from global competitors may see their wages decrease.
In addition, different effects will be seen in the markets for highly skilled laborers and low-skilled laborers. In the
United States, wages tend to increase in the market for highly skilled labor, as the United States has a comparative
advantage in this area. Meanwhile, low-skilled labor faces increasing competition in the global marketplace from
other nations, and these jobs may even be candidates for outsourcing to another country. The effect is increased
demand and higher wages for highly skilled labor and decreased demand and lower wages for low-skilled labor.
This can have negative effects of specific labor markets, especially manufacturing. However, many low-skilled
service jobs are location-based and are poor candidates for outsourcing. Grocery store workers, landscaping
workers, and hotel workers are all examples of jobs that do not have a high degree of skill but cannot be
outsourced to other nations.

However, there may be additional, non-monetary cost to the outsourcing of low-skilled jobs to foreign nations.
Often, these countries lack worker protections, leading to poor working conditions for those who do take the jobs.
For example, many factories are located in China, where protest is illegal, and even speaking out about poor
working conditions can lead to incarceration. Further, the facilities in these nations may be unsafe. The Savar
building in Bangladesh, India collapsed in 2013, killing more than 1,000 workers in the garments factories housed
within it, and injuring another 2,500. The building had been constructed without permits and the original plans had
not been designed to house factories at all.

Difference in Living Standards

When trade occurs with nations that have lower living standards, it tends to benefit their economy and raise living
standards. However, trade does not necessarily raise the living standard of a country.

Most U.S. trade is unaffected by issues in living standards, as most U.S. trade is intra-industry trade carried out
with nations that have similar incomes and labor standards. However, some trade does occur with nations with
lower living standards.

Many nations have poor working conditions and poor alternatives and operate with a low minimum wage.
Economists must analyze whether the trade makes the nation better off and whether this type of production gives
citizens better job opportunities. For example, the outsourcing of a service job to a country that pays low wages
may seem like a detriment to the worker who takes the job. However, what if the alternative to that service job
was unsafe factory work that paid less? The outsourcing of the service job increased the standard of living through
higher wages and increased job safety. Thus, it is important to analyze the effect of these trades and identify if
there is any progress being made.

Another aspect to consider is whether new labor and environmental standards can be enforced by blocking
international trade. Because trade can be vital to helping a low-income country develop economically, pressures
can be placed to help the nation increase its standards faster in order to continue trading internationally. This
requires cooperation from many nations that are importing from the country with lower standards and must
ensure incentives for increasing standards. Another route, other than a threat of blocking international trade, is for
higher income nations to help subsidize safer and more environmentally friendly equipment.

Economists must also consider income inequality in the countries that receive outsourced jobs. While the overall
economic growth may trend upward, often the increased income is concentrated in the hands of a few individuals
who own the factories. The money flowing into the economy due to trade does not reach the workers.

South Korea is an example of how international trade and globalization have led to an increase the standard of
living in the country. Following the Korean War of the 1950s, South Korea's standard of living was very poor. Over
the next several decades, the country's leadership worked to improve economic conditions, ultimately leading to
free trade agreements with wealthy nations all over the globe. As a result, South Korea now has one of the highest
standards of living in the world.

In contrast, China suffered a similar poor standard of living in the 20th century. Although Chinese leadership
encouraged economic growth in manufacturing, its wealth disparity is among the highest of any nation. The influx
of income China received by trading internationally has been received by a few individuals, while the overall
standard of living in China has remained stagnant, well below its trade partners, including the United States and
Japan.