Name: Charm Angel Q.

Lopez Subject: GE3 (0194) The Contemporary World

Year & Course: 1st year - BSED English Date: September 5, 2020

Examination Paper

1. How have you experienced globalization?

As a person who is a fan of online shopping especially on a specific app called Shopee. I love fashion that is
why I tend to buy clothes from the shops inside the app, don’t get me wrong because I usually go for the cheaper ones
and the money that I used is not from my parents nor any member of our family, it is from my work because I don’t
like to bother people especially when it comes to spending money on clothes and other unnecessary stuffs. I often buy
on overseas shops, now, that’s where I insert my experience on globalization. I engage in a country to country
exchange. According to the definition of globalization, it is the process of interaction and integration among people,
goods, and services, capital, technologies or cultural practices all over the planet.

2. Why is it crucial to emphasize that globalization is uneven?

Globalization can expedite the economic growth of one’s country. Well it is true that there is an uneven
distribution that is happening right now in every country across the globe. The enterprises and companies are getting
richer and richer but the middle and the poor are getting behind but that the globalization does have nothing to do
against that. It is the way wealth is distributed by the higher officials to the people who is below to the upper tier of
the society. Globalization, in fact, aims to promotes or to boost a poorer country’s wealth but the foul apportioning of
the wealth to one’s country is not the globalization’s fault. Whether the globalization is even or uneven, it shouldn’t be
questioned.

3. What is the difference between globalization and globalism?

According to its meaning, globalization an act of trading or exchange among people, goods, services, capital,
technologies or cultural practices all over the globe. By means, it is an act while globalism, it is an Idealogy that is
based on the belief that people, goods and information ought to be able to cross national borders unfettered (according
to www.definition.net). Unfettered means unrestrain or no restriction on imports and exports industry.

4. How do economic forces facilitate the deepening of globalization?

This is classified as comparative advantage in economics. One nation's items and administrations can be
exchanged for other nation's items and administrations dependent on cost and quality. It benefits everyone. Nations by
their very nature have diverse crude materials and aptitudes to sell on the planet's commercial center. Their capacity to
exchange the world's commercial center accommodates most things any nation requirements for its own utilization.

5. How is the Philippines central to the history of economic globalization?

Philippine economy has accomplished developing arrangement with the worldwide economy. This is clear in the
overall increment in commodity market and labor immigration. Money is additionally more coordinated, but at a
generally moderate speed. Ludicrously, the Philippines is a nation that isn't amazingly trade reliant, implying that the
intense impacts of insecurity on both fare profit just as monetary development related with financial stuns are
annulled.In expansion, the Philippines has an agrarian economy, which implies we are exceptionally subject to the
farming and crude material parts, it has been indicated that a mix of the two attributes serves the nation well.

6. Compare and contrast the assumptions of the original Bretton Woods system with those of the Washington
consensus.
The Bretton Wood System is a framework that made a structure of standards, rules and comprehension to counter
World War II financial precariousness (misery, joblessness, protectionism and in the end facism). The general purpose
of the framework is to abstain from coming back to the monetary insecurity in 1930s. The Washington Consensus -
depicts all the strategies that the global foundations situated in Washington, IMF , World Bank, and so forth.
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