Republic of the Philippines

Bulacan State University

City of Malolos, Bulacan
Tel/Fax (044) 791-0153
COLLEGE OF EDUCATION

The Contemporary World (TCW101)

Assignment #1 – Definition of Globalization

Name: MACEDA, CLARISSE C. Date: 02.6.2023

PYAS: BSEd Sciences 2A Instructor: Mrs. Catherine Roxas

1. Globalization is the process by which ideas, knowledge, information,

goods and services spread around the world. In business, the term is used in an
economic context to describe integrated economies marked by free trade, the
free flow of capital among countries and easy access to foreign resources,
including labor markets, to maximize returns and benefit for the common good.
Globalization, or globalisation as it is known in some parts of the world, is driven
by the convergence of cultural and economic systems. This convergence
promotes -- and in some cases necessitates -- increased interaction, integration
and interdependence among nations. The more countries and regions of the
world become intertwined politically, culturally and economically, the more
globalized the world becomes. (Ben Lutkevich, 2021)

2. Globalization is the word used to describe the growing interdependence of the

world’s economies, cultures, and populations, brought about by cross-border
trade in goods and services, technology, and flows of investment, people, and
information. Countries have built economic partnerships to facilitate these
movements over many centuries. But the term gained popularity after the Cold
War in the early 1990s, as these cooperative arrangements shaped modern
everyday life. As with major technological advances, globalization benefits
society as a whole, while harming certain groups.. (What Is Globalization?, 2018)

3. Globalisation- According to Peter Jay, globalization is defined as:

The ability to produce any goods (or service) anywhere in the world, using raw
materials, components, capital and technology from anywhere, sell the resulting
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Bulacan State University
City of Malolos, Bulacan
Tel/Fax (044) 791-0153
COLLEGE OF EDUCATION

output anywhere, and place the profits anywhere.’ (4.1.3 Factors Contributing to
Increased Globalisation, n.d.)

4. defining globalization as a process whereas globality is a condition or a frame of

reference that implies the end-state of globalization, if not a fully globalized
borderless world. For its part, globalism presupposes an ideological stance or
project that enacts, promotes, transforms, or resists globalization. For instance,
the starting point of a globalist stance known as “hyperglobalism” is that
globalization has significantly undermined the ability of national governments to
resist, control, or regulate the incoming flows in economic, social, cultural, and
political domains. Based on the belief that globalization is both inevitable and
irreversible, hyperglobalists suggest adjusting policies and visions to global
transformations rather than attempting to resist globalization. Axford (2013)
 Republic of the Philippines
Bulacan State University
City of Malolos, Bulacan
Tel/Fax (044) 791-0153
COLLEGE OF EDUCATION