Activity 1 (Reflection /Essay)

Answer the following questions

1. What is globalization?
- Globalization is the process by which ideas, knowledge, information, goods and
services spread around the world. In business, the term is used in an economic context
to describe integrated economies marked by free trade, the free flow of capital among
countries and easy access to foreign resources, including labor markets, to maximize
returns and benefit for the common good.

Globalization, or globalisation as it is known in some parts of the world, is driven by the

convergence of cultural and economic systems. This convergence promotes and in some
cases necessitates increased interaction, integration and interdependence among
nations. The more countries and regions of the world become intertwined politically,
culturally and economically, the more globalized the world becomes.

2. What the biggest problems/issues facing the world today?

 Climate Change
 Catastrophic Pandemics
 Great Power Conflict
 Biodiversity Loss and Species Extinction
 Poverty
 Marine Ecosystem Deterioration
 Hunger Crisis and Water Scarcity
 Gender Equality

Activity 2 (Illustration)

Sub Problem #2
Price Instability

Sub Problem Sub Problem

#1 #3
Job Abandonment
Big Problem of Culture
Insecurity
Unemployment

- Main reason why you consider big problem a big impact in globalization? Does this big
problem affect local municipality economy?
Globalization leads to increased competition between companies, which can result in
closures, offshoring and job losses. In addition, economic change in general leads to some
people losing jobs as resources are moved around. Globalization moves production from one
nation to another but labor can't follow as easily. This can result in long-term unemployment if
the change is permanent, which is called structural unemployment.
The cost of the higher unemployment is lost wages and incomes to workers and their
families, a further widening of inequalities, an inhospitable environment for welfare reform and
the social costs of greater crime and worsened health. Unemployment block the growth rate of
the economy, creates more poor section of the society in the economy which become a
burden, and due to the unemployment, consumption and demand falls which lead to lack of
investment and further falls in the growth of economy.

Activity 3
What Do You Think about Globalization? In this activity, look for and read three newspaper
opinion editorials (op-eds) discussing globalization. You may use local or international op-eds.
- Summarize the opinion editorial regarding their stand on globalization and its effect
to the country. (indicate the name of the newspaper, edition, and date)
1. South China Morning Post Special Edition 11 January 2018 by David Zweig
- Globalization involves the free-flow of goods, services, capital, talent and technology
across national borders with limited government or regulatory interface, largely for
the purpose of increasing the efficient use of resources globally. Mercantilism, on
the other hand, describes a strategy of a state promotion of economic development,
protectionism of domestic market, and regulatory controls over the exchanges
across national boundaries, all targeted at enhancing an individual state’s power.
The article tackles that the benefits to China of globalization are of historic
proportion. Since 1987, China has combined both globalization and mercantilism,
actively managing a massive proliferation of transnational transfer, in what Prof.
David Zweig called “internationalization” of China’s economy, bureaucracy, society
and polity. He also stated that China’s success is in part due to its policy of
protecting some key sectors of its domestic economy (as well as the remarkable
spirit of its entrepreneurs and working classes). In addition, he stated that in the
developed world, the middle classes lost ground under globalization, but the already
rich flourished. More on, China’s successful blend of globalization and mercantilism
has even soured the view of China among America’s business community, which
previously had been China’s strongest lobby in the US.

2. Telangana Today newspaper on 15th Feb 2017 by V Ramachandra Reddy

- Main objective of the article was that if globalization has to survive it need to be
remade so as to work for everyone and not just for corporate bigwigs and
politicians. In the words of Jaggi Singh, an anti-globalization and social justice
activist: Our struggle is about changing the world. It is about creating structures,
institutions, frameworks, communities and neighborhoods that are based on the
values of social justice, mutual aid, solidarity and direct democracy. These are the
golden words that must be followed by the entire humanity to save peace and
ultimately save the globalization itself. For that to happen, the most important
prerequisite is providing voice to the voiceless and involving all the stakeholders, not
just corporates and politicians, in remaking globalization.
3. Cape Argus on January 11, 2018 by Harun Yahya
- Today it is not at all surprising for a company to produce goods in a county other
than it has started to affect state politics, international relations, international law
and social dynamics. But did economic globalization, which had such a profound
effect on the world, bring prosperity to the people?

The articles questions if the economic globalization is a code for exploitation.

According to them, economic globalization is an opportunity to increase the
worldwide level of prosperity, since the greatest advantage of economic
globalization would make the wealthy richer and the poor less poor. An activist
named Jeff Balinger published a report in 1991 in Indonesia documenting the low
wages and poor working conditions of employees in one of the world’s most famous
athletic shoe brand factories. According to the report, the company’s subcontractors
were exploiting the employees by giving them a wage lower than the minimum
wage in Indonesia while it enjoyed record-high profits. On top of that, child workers
were also employed in production and women workers were sometimes beaten by
their supervisors with shoes due to trivial sewing errors and the punishment was a
common occurrence. The globalizing economy hasn’t created prosperity but only
problems for underdeveloped countries in every period in history when the reins
were in the hands of those with exploitive mindsets.

Indeed, the concept of a globalized economy shouldn’t be blamed solely for the
negativity it brings. Increasing international trade volume, production, transnational
mutual investment and employment capacities and creating employment
possibilities for the unemployed workforce worldwide are among the opportunities
that the global economy offers for the benefit and prosperity of all people. However,
it seems that honest and trustworthy administrators, as well as internationally
binding and enforceable legislation that prohibits the negative repercussions such as
exploitation of wages and worker abuses are essential requirements in order to
bring to fruitions such benefits.