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INTRODUCTION TO GLOBALIZATION
CHAPTER OVERVIEW
Globalization plays a vital role in the economic system of the world. The
world economy is set to be a system of being globalized. What does it mean? It
means that the whole world is increasingly involved in a single market, with
interdependent production, consuming similar goods, and responding to the same
impulses. It also involves spreading ideas, practices, and technologies. The
connectivity across the entire world of economic and cultural life increased
throughout the centuries. However, what is the real concept of globalization and
when did it begin? Does the perspective of every expert differ from one another?
What are some impacts of globalization on developing the world’s economy? Do
you think it is beneficial? Why or why not?
LEARNING OUTCOMES
Lesson Outline
I. Introduction to Globalization
1. Concepts of Globalization
2. Definitions of Globalization from Experts
3. Attributes of Globalization
REFERENCES
Brazalote T., and Leomardo R. (2019). The Contemporary World. C & E Publishing, Inc. Quezon City
Globalism - the widespread belief among powerful people that the global
integration of economic markets is beneficial for everyone since it spreads
freedom and democracy across the world.
CONCEPTS OF GLOBALIZATION
DEFINITION OF GLOBALIZATION
Globality
- fast speed of trade (importing and exporting are done in just a millisecond
through technology)
- global economic organizations International Monetary Fund (IMF), World
Bank (WB), and World Trade Organization (WTO). International Labor Organization
(ILO), ASEAN, etc.
- multinational and transnational corporations
- free trade (governments not to restrict the importation of products and
the exportation of local products