MASALUNGA, CHRISTOPHER ROI P.

ECO-31

TOPIC 1: GLOBALIZATION AND INTERNATIONAL TRADE ANALYSIS (What, Why, and How)

WHAT IS GLOBALIZATION?

- Globalization is the process of increased interconnectedness and interdependence among countries,

economies, cultures, and people worldwide. It involves the exchange of goods, services, information,
technology, and ideas across borders, leading to a more integrated and interconnected global society.
Globalization has far-reaching effects on economics, politics, culture, and society, shaping the way
nations interact and impacting various aspects of daily life. It has both positive and negative
consequences, with proponents emphasizing its potential for economic growth and cultural exchange,
while critics point to concerns like inequality and cultural homogenization.

WHY DO WE HAVE A GLOBALIZATION?

- Globalization enables countries to access less expensive natural resources and lower cost labor. As a
result, they can produce lower cost goods that can be sold globally. Proponents of globalization argue
that it improves the state of the world in many ways, such as the following: Solves economic problems.

HOW GLOBALIZATION WORKS?

- Globalization is a complex and multifaceted process that involves the integration of economies,
cultures, technologies, and societies across the world.

INTERNATIONAL TRADE

WHAT IS INTERNATIONAL TRADE?

International trade is referred to as the exchange or trade of goods and services between different
nations. This kind of trade contributes and increases the world economy. The most commonly traded
commodities are television sets, clothes, machinery, capital goods, food, raw material.

WHY IS IT IMPORTANT THE INTERNATIONAL TRADE?

- International trade is of paramount importance for several reasons, and its significance extends to both
individual countries and the global economy. it also essential for keeping a competitive global economy
and lowers the prices of goods internationally as it spurs innovation and encourages markets to become
specialised.

HOW INTERNATIONAL TRADE WORKS?

- In international trade, economic transactions that are made between countries. Among the items
commonly traded are consumer goods, such as television sets and clothing; capital goods, such as
machinery; and raw materials and food.
MASALUNGA,CHRISTOPHER ROI P.

ECO-31

TOPIC 2: ICT AND EXPERT DOCUMENTATION

GLOBAL TRADING TRENDS (What, Why, and How Analysis)

WHAT IS ICT AND EXPERT DOCUMENTATION?

ICT stands for Information and Communications Technology. It refers to the broad field of technology
that encompasses the use of computers, telecommunications, and other devices to store, retrieve,
transmit, and manipulate data. This includes everything from hardware like computers and smartphones
to software, networks, and the internet.

Expert documentation - typically refers to the process of creating and maintaining documentation that
captures the knowledge and expertise of subject matter experts (SMEs) within a particular field or
domain. This documentation is valuable for training, reference, and knowledge-sharing purposes within
organizations or communities. It may include manuals, guides, best practices, and other resources
created by experts to help others understand and apply specialized knowledge.

WHY IS ICT AND EXPERT DOCUMENTATION ARE IMPORTANT?

- ICT is important for its role in enabling efficient communication, access to information, and innovation,
while expert documentation is crucial for preserving and sharing specialized knowledge, promoting
consistency, and facilitating training and problem-solving. Together, these elements contribute to the
growth and effectiveness of organizations and society as a whole.

HOW ICT AND EXPERT DOCUMENTATION WORK?

- ICT (Information and Communications Technology) and expert documentation work together to
facilitate efficient information management and knowledge sharing within organizations.

GLOBAL TRADING TRENDS (Analysis: What, Why and How?)

WHAT IS GLOBAL TRADING TRENDS?

- Global trading trends refer to the prevailing patterns and developments in international trade and
commerce. These trends are influenced by a variety of factors, including economic conditions,
technological advancements, geopolitical events, and changes in consumer preferences. These trends
are dynamic and can change over time, influenced by a complex interplay of economic, political,
technological, and social factors. Staying informed about global trading trends is crucial for businesses
and policymakers to adapt and thrive in the evolving global marketplace.
WHY IS GLOBAL TRADING TRENDS ARE IMPORTANT?

The world economies have become more intertwined through globalization and international trade is a
major part of most economies. It provides consumers with a variety of options and increases
competition so that businesses must produce cost-efficient and high-quality goods, benefiting these
consumers.

HOW GLOBAL TRADING TRENDS WORK?

Global trading trends emerge and evolve through a complex interplay of economic, technological,
political, and social factors. Here's an overview of how global trading trends work:

1. Economic Factors:

Economic Growth: The overall health and growth of economies worldwide impact global trade. When
economies are growing, consumer demand and business investment tend to rise, driving international
trade.

Exchange Rates: Currency exchange rates affect the competitiveness of exports and imports. A strong
domestic currency can make exports more expensive, while a weaker currency can boost exports.

2. Technological Advancements:

Digitalization: Advances in technology have led to the rise of e-commerce and digital trade. The ease of
conducting business online has expanded international trade opportunities and transformed traditional
trade models.

Supply Chain Efficiency: Technologies like blockchain, IoT, and AI are used to enhance supply chain
transparency, reduce costs, and improve logistics, impacting trade patterns.

3. Political and Geopolitical Factors:

Trade Agreements: Bilateral and multilateral trade agreements shape global trade by reducing tariffs
and trade barriers, affecting the flow of goods and services between countries.

Geopolitical Tensions: Political conflicts, trade disputes, or changes in leadership can disrupt established
trade patterns and influence trade flows.