NAME: Tanay, Aevan Joseph S. PROFESSOR: Mr.

Manuelito Ada
COURSE: Contemporary World DATE: September 24, 2022

ASYNCHRONOUS III : Economic Globalization : Unity of Division?

“Globalization for All”

The Globalization is a rampant process of trading goods, capitals, and even work-force.
Even though globalization gives everyone opportunity, technologies, and ideas, we cannot
deny that it also have a negative effects in every country, such as local businesses will find it
more difficult to continue their business, the market can be controlled by the foreign investors,
culture and traditions can be mixed.

According to Gina Gopinath, Chief Economist of International Monetary Fund, “To

continue the wave of globalization, we must create policies that support those who are left
out”. In 2021, the recorded Gross Domestic Product (GDP) of the Philippines is $394.1. Our
country is considered as 12th largest economy in Asia and 3rd in ASEAN countries after the
Indonesia and Thailand. Huge portion of our GDP comes from foreign businesses so we can say
that the globalization unifies every country even they are considered as a 3 rd world country or
1st world country. Everyone benefits in globalization, everyone needs each other, to support,
trade our products, and increase the potential of every country not only in Asia, Europe, and
America, but in the whole world.

I believe that globalization is beneficial for us not only in our political system,, but also
in our economic aspect, military, and monetary. We can really say that even though rapid
globalization is bad for other country who are behind, they still benefit from the success,
resources, and investments of their allied countries.