REACTION PAPER FOR ECONOMIC GLOBALIZATION

As we all know, economic globalization is one of the three main dimensions of

globalization commonly found in countries, academic literature, with the two others
being political globalization and cultural globalization as well as the general term of
globalization. According to Eric F. Lambin, economic globalization is combined with
the looming global land scarcity increases the complexity of future pathways of land
use change. Globalization has facilitated the exchange of ideas and cultures,
contributing to a world view in which people are more open and tolerant of one
another.

Based on my perspective, about the topic that has been reported, economic
globalization comprises the globalization of production, markets, competition,
technology, and corporations and industries. Economic globalization can also be
viewed as positive or negative phenomenon. For the positive side, the development
will give rise to new industries and more jobs in developing countries. While on the
other hand, economic globalization can force poorer countries of the world to do the
big developed countries tell them to do.

In conclusion, economic globalization can also make a huge impact on our society
because it can affect politics and culture. In general, globalization has been shown to
increase the standard of living in developing countries, but some analyst warn that
globalization can have a negative effect on local or emerging economies and
individual workers.