Rica Mae R.

Pilar
BSCE-1C
Activity 2: The Influences of Economic Globalization
What is economic globalization?
The increasing interdependence of world economies is referred to as economic globalization.
This is the lone exception indicates that the volume of international trade in services and
commodities is expanding, as is the spread of contemporary technology, as well as the flow of
capital. This is a global expanding phenomenon that is causing significant changes. It centers
around commerce, investment flows, financial capital, labor division, and specialization.
Because its consequences affect individuals, society, and the state. Developing countries are
experiencing stagnation as a result of their failure to cope with globalization, which is
exacerbated by bad financial market management, resulting in a widening of the income
disparity. With some changes to sovereignty, economic globalization brings the mobilization of
products and capital, minimizes the distance between borders, and energizes international trade.
One illustration of economic globalization is the adoption of new styles and fashion, such as
clothing and footwear, from other nations such as China, America, and Korea. Because of the
importation of goods in clothes and body accessories, the old fashion was updated, and most
Filipinos accepted these trends.