Rada, Ivan Clowie C.

BSN 2-3

The State of Globalization in 2021

by Steven A. Altman and Caroline R. Bastian

Globalization Digital transformation Protectionism Cross-border collaboration

International trade Market access Tariffs Global economic integration
Supply chains Global governance Trade policies Technological disruptions
Global market dynamics Economic nationalism Multinational corporations

“Understanding the Structure of Globalization”

Globalization has become an essential component of our increasingly interconnected

worlds. It refers to the complex web of structure s and mechanism that enable international trades,
cross-border collaboration, and global economic integration. In this essay we will look at the
fundamental of globalization and its structure such as supply chains, digital transformation, global
governance and other topics. We can gain valuable insight into the dynamics and challenges of the
globalized economy by understanding these structures.
The international trade and supply chains are at the heart of globalization are. These
structures enable the exchange of goods and services across borders, connecting markets and
consumers worldwide. However, digital transformation has been shaped the ever-changing nature
of globalization. Technological disruptions has accelerated the integration of markets, allowing
businesses to transcend geographical boundaries and access global opportunities . Multinational
corporations, with their extensive reach and resources, play a important role in driving this
process.
While globalization presents numerous advantages, it also faces challenges. Protectionism
and trade policies, such as tariffs, have emerged as barriers to free trade. Economic nationalism,
has fueled protectionist tendencies in some countries, , driven by concerns about domestic
industries and job security. These protectionist measures inhibit market access and disrupt the flow
of goods and services, causing malfunction to the smooth functioning of global supply chains.
In global governance plays a vital role. Institutions and frameworks for global governance
aid establish rules and regulations that govern international trade, resolving disputes and ensuring
fairness. They promote cross-border collaboration, allowing nations to collectively address global
challenges and grab opportunities. However, as globalization continuously to evolve, the need for
adaptive and inclusive global governance becomes increasingly important in order to address
emerging issues effectively.
In conclusion, by understanding the structures of globalization is important for
comprehending the complexities and opportunities we may of our globalized world. Supply chains,
global governance, digital transformation, and multinational corporations are important
components that shape the dynamics of international trade and economic integration. While
protectionism and economic nationalism as suh challenges, they can be addressed through
cooperative frameworks, constructive dialogue, and a commitment to shared prosperity in our
globalized world.
As we access the constant evolving landscape of globalization, it is important to create an
environment that encourages open markets, embraces technological advancements, and promote
inclusive global governance. By doing so, we can able to capitalized the potential of globalization
to drive sustainable economic growth, enhance cross-cultural understanding, and create a more
interconnected world that benefits to everyone.
 Reference

The State of Globalization in 2021 (hbr.org)