De Castro, Allen Jay G.

ACTIVITY #1

Title: End of Globalization

Columnist: Elfren S. Cruz (The Philippine Star)

Even before it existed, globalization was meant to improve the worldwide economy.

This seems to have an underlying effect as Mr. Cruz strongly believes that globalization

has inflicted the lives of the many, especially the poor. Income inequality has been one

of the main reasons for the rise of populism. According to him, the trickle down of the

wealth, which was the idea of globalization, is an essential defense for capitalism. This

clearly means that globalization is just an ideology.

The main people who can support this are the economist. People like them can

clearly see that globalization is just an ideology. Such people can see how globalization

affected the lives of many, by having data and statistics to prove the claim. They can tell

that real income continues to stagnate not only in the Philippines, but also in rich

countries like the US. For them, the richer countries were expected to share their

wealth, but that was only the dream of UN. They may have nothing against it, but most

of them are apparent the globalization is coming to an end.