Name: Likhit Rustagi Subject: I&S Grade- MYP 4C

Unit title: Trade, Aid and Globalisation Formative Assessment Crit B and C
Key Concept Related concept(s) Global Context
Systems (understanding both natural and Culture and Trade Fairness and Development (Authority,
human environment and the role of Security and Freedom)
individual within them)
Statement of Inquiry: Globalization impacts the systems which shape interaction between cultures, societies and
economies.
ATL Skills : Research skills
Information literacy skills (Finding, interpreting, judging and creating information): Interpret media
information by appraising the significant questions, problems and issue related to the  sources
Critical-thinking skills (Analysing and evaluating issues and ideas): Devise detailed strategies to resolve the
obstacles and challenges by evaluating the task.

Time set for assignment: Diwali Time Taken: Date: 2/11/21

Break Task

Please note: The work produced for this assignment must be student's original work and must
not be plagiarized (copied from some other source) or peer plagiarized (peer's ideas/work
copied as their own in the responses)

Source 1: Demystifying Globalization

What do you understand by globalization?

● By globalization we basically mean worldwide interconnectedness, it basically talks

about integration of our national economy with all the economies of the world in the quest of
development and progress is known as globalization.
● Globalization basically deals with flows or transfer. Flows of ideas, capital commodities
and people from one nation to another is called globalization, it’s basically synchronization of
the world as a smaller place where everything and everyone is connected.
● Globalization is essentially an economic concept but as a concept it’s much deeper than
an economic concept as it has cultural and political dimensions as well. Thus, in order to
understand the concept better it has to be understood from each and every dimension.

What are the main causes behind globalization?

● If we say that globalization is about flows of ideas capital commodities and people from
one nation to another then certainly, we can say that it’s not a new concept as in history also
one has witnessed people and commodities flowing from one nation to another like for
example Britain used to trade with all its colonies like India etc.
● Thus, the question arises as to what is new about globalization, the answer remains
that’s it’s about technology today which was not present at that time. But if we look at the
present day due to communication and technology communicating and coordinating with
people at a distance has become possible due to which overall trade across the globe has
increased considerably.
● With the invention of telephone, internet, cell phones, video conference we have seen a
revolution in the field of communication.
● The second change or advancement today has been in the field of transportation. As in
historical times it used to take a lot of time to transport things from one part of the world to
another but today with better roads, railways, seaways, and airways transportation is not a
problem. Thus, the speed of flows has increased considerably. Thus, every distance is now very
short.
● Thus, we can say that today with technology and transportation the world is better
connected thus this gives way to globalization.

Consequences of globalization

● Political consequences
- One of the most important debates attached with e notion of globalization is related
with its political impact.
- When we say political impact here, we basically say the kind of impact that it has had on
state sovereignty. This can be understood in two ways.
- The first perspective states that globalization leads to erosion of state capacity as the
old welfare state is now being replaced by the new minimalistic state as its work was now to
look after law and order and security of its citizens. In its minimalist form it has backed out of
earlier welfare functions.
- Now what has happened is that in place of welfare we have the market now, as today
every governmental decision is somewhere based on the profit it will get from the market.
- Thus, this entry of multinationals has somewhere led to reduction in the powers and
functions of the state as now the government cannot take decisions independently, but it asks
the market actors and then takes a stand.
- The second perspective states that with globalization the power of the state has
increased as now we have a mixed economy in which the government looks after the most
important functions and leave the other functions and activities for the private actors thus
efficiency of the government increases with globalization.
- Another positive of globalization is that now the government is also using the best of
technologies to regulate the work of the government like for examples we use latest
technology for e-governance, EVM’s in elections etc.
- Thus, the state today has become more powerful with the outcome of new
technologies.

● Economic Consequences
- As we understand the globalization is essentially an economic concept thus when we
talk about economic consequences here what draws out attention are big economic
organizations like the IMF, world bank etc. and how with globalization their role has increased
considerably as now policies made by them shape the economies of the rest of the world.
- Apart from these economic globalizations also deals with how the flows have increased
as trade has increased around the world with most of the nation’s following capitalist structure.
- Another impact of globalization is the inception of liberalization as now most of the
nations are relaxing their trade policies by de-licensing and de regulating their trading methods.
Thus, with this Foreign direct investment has increased as now more nations invest Money in
other nations. Today with liberalization we see those multinationals like apple, Microsoft, Pepsi,
coca cola; McDonalds etc. have earned huge profits around the world.
- However, a negative remains that with people travelling from one nation in search of
work a lot of people lose jobs like for example in USA their own citizens complain that there are
no jobs left for them as most of them are taken by people who have come from outside
nations. Thus, today we see that nations like USA and UK have guarded their borders with strict
Visa policies so that they can control this inflow of people.
- However, people say that in order to protect us from the negatives of globalization one
should use “social safety nets” so that the state provides education, healthcare and other basic
necessities to the people in need
so that they are not affected by globalization.
- But people who support economic globalization say that it can really boost up the
economy if it is de- regularized. They believe that economic globalization is a reality and march
of history which cannot be ignored as it is the need of the hour.
- However moderate supporters say that globalization should be implemented with a lot
of intelligence and smartness and not blindly.

● Cultural Consequences
- As we have stated earlier that globalization is a multi- dimensional approach as it order
to study it we have to understand it from every perspective. The third perspective is to study
the kind of impact that it has on cultures of the nation.
- Here we basically look at the kind of impact globalization has on out mindset as it
changes the way we think, eat, dress etc. Thus, globalization can change our personalities too.
- Globalization leads to “Cultural Homogenization” this basically means that the local
culture gets mixed with the culture of the west and in the process the local age-old culture and
tradition loses its value as people blindly follow the west.
- Like for example the popularity of blue jeans and Burger has surpassed the value of a
masala dosa and khadi kurta, we can say that it’s the American way of life which is slowly
becoming a common culture for all the nations. This is what we call “Medialization” as it is
dangerous not just for the poor or smaller nations but for the whole humanity as it leads to
shrinking of the rich cultural heritage of the world.
- But every time the impact is not negative as globalization also leads to what we call as
“cultural heterogenization”. This means that with the whole world getting connected now we
can identify a lot of other cultures as well, thus globalization has helped cultures around the
world.

- another positive remains that with globalization our choices have enlarged. This means
that a khadi kurta can also be worn with a jeans and similarly burger is no comparison to a
masala dosa as both have its own importance. Therefore, it does not pose a serious challenge.

Task: Use the information given in source above and the discussions you have had in class about
the impact of globalization evaluate the concept of globalization as the Finance minister of
India.

You are Nirmala Sitaraman, Finance minister of India and you have to give a speech at the
Global Economic Forum. Your task is to evaluate the information given in the source above and
present your analysis in the form of a speech -

- Your task is to analyze and evaluate the information and take a clear stand about
the concept and impact of Globalization on India i.e. positive or negative.
- Add clear examples to justify your stand based on further research on the topic.
- Focus on how it impacts LEDCs vs MEDCs.
- Conclude your speech by suggesting the world economic community about ways
to better deal with Globalization so that it does not impact the autonomy of your
sovereign nation.
- Word count is 500-550.

Term Definition

Use Apply knowledge or rules to put theory into practice.

Evaluate Assess the implications and limitations; make judgments about the
ideas, works, solutions or methods in relation to selected criteria.
Good morning, everyone, I am Nirmala Sitaraman from India and it is my pleasure to be here in
front of you. Globalization as we know it, is impacting every corner of the world. Some
countries have already completed it while some are still in the process. Globalization in India
however has both negatives and positives. It has more positive impacts than negative. It has
helped us connect to the outside world in a manner that we share cultures, food, economy and
most importantly humanity.

Globalization has come as a new hope to our society, mindset, economy and culture. We have
developed and shared so much because of it. American trends and fashions have entered India
and the other way around. People in America wear Kurta Pajama and Indians wear Jeans and T-
Shirts. New food items from the west have arrived and have become the likings of all Indians.
With such a huge population in our country we were experiencing a deficit in employment of all
individuals. New multi-national companies have arrived into our country to provide employment
for all those people. It even contributes to the development of education, and sustainable goals
for our country. With so many jobs available to students it becomes a good choice for them to
attain education to work in such companies. Also due to these companies many foreign investors
invest in our nation. This has got a huge boom in our economy during the past years. Medical
Science has been adapted from fair share of western nations that have helped us in research,
treatment and saving millions of lives in our country. Globalization in LEDC’s have a great
impact as mostly it brings an economic boost in their society which helps them develop by a
large scale. In MEDC’s however globalization comes as a mixture of culture, tradition with
minor economic alterations. In both ways Globalization has helped multiple countries such as
ours in developing and diversifying.

However, as I told you earlier globalization has both positives and negatives and now, I am
going to share the negative impacts of globalization on our nation. The heaviest impact has been
on the sovereignty of our nation, as once the British did by opening the East Indian Company
and first taking advantage of our economy and then our whole country. Newly opening
companies and businesses from outside become a threat to our sovereign nation. Our culture has
been contaminated too. It is good that new cultures have been introduced but not a cost that our
original gets altered. Fashion from the west has affected our tradition. In my opinion
globalization can be entirely good for our country if it does not bring in the social changes to our
country. If culture alteration and the very essence of our tradition isn’t altered by new cultures
from the west it will be better. Out culture has been our personality since the very start of the
human race and civilizations and I don’t think there is any good in changing that history no
matter what. The economic and political effect is what globalization should be following on to
make a country develop faster and effective. Thus, I conclude that Globalization should be
altered for it to be perfect for a nation. Thank You!!