INTERNATIONAL BUSINESS AND TRADE (IBAT)

MW (3:30-5:00pm)

Peralta, Liah Jazzmeen A. February 15,

2023

PRELIM ASSIGNMENT 1

What is your stand on the role of social media in International Trade and Globalization?

Social media is a very important part of a person’s life in everyday living. It

enables users to stay informed about events happening across the globe. It helps us in
communicating end exchanging of information to convey the message into a person
whether that person is in another country or not. As time goes by, we can say that social
media is still improving and becoming more popular especially in trading to avoid hassle
because it makes the agreement easier. It is the most powerful tool.

The rise of the internet and social media has a significant impact on
globalization. An information sharing platform is provided by social networks. Social
connections are improved via social media. Globalization is the process where business
begins internationally. Social media is a big help in globalization that takes place every
day because; first, social media helps improve our relationships with other countries,
because of this, the transaction of purchasing products, finding a job or even trading
internationally can be more easier by simply providing a full details and can send a
message in just one click, so the vendors can save time and money by doing this. The
geography and culture of the prospective buyer might be taken into account while
creating a seller's advertisement. Secondly, Social media also provides businesses with
the benefit of leveling the playing field between large and small businesses. Small
businesses may quickly and affordably reach a broader audience.

However, whether we admit or not, social media is part of everyone’s life

especially in globalization. It has a positive and negative impact as well but social media
is a big help in many ways. Social media provides a forum for cultural exchange. People
learn other people’s cultures as they share their own.