What is the most valid critique of globalization among its negative aspects? Justify your answer.

It is widening the gap between the rich and poor; where rich people are becoming richer and
poor are becoming poorer. Globalization is increasing the gap and is strengthening the dominance of
First-world countries in terms of economic and cultural markets. According to a 262-page report by the
United Nations, one of these is the Internet and computer technology, as western countries discovered
and augment their machineries, the efficacy and efficiency of works will consort the progress, whereas
less-developed countries will not have the velocity to catch up.

Giant companies like General Motors, McDonalds, Microsoft and the likes will continue to
emerge and spread their businesses and political agenda scopes will widen. Communication,
information exchange, and mass media will develop in first-world countries first then to less-developed
countries.

4. Given the status quo, is it possible to replace globalization with a new world order? If it is possible,
how would it materialize? Explain.

In 350 years, Globalization enabled economies that are not yet fully industrialized to reap the benefits of
industrialization and become integrated into global markets – a trend that has redefined the global
division of labor and transformed value chains. The revolution in digital communication technology has
also contribute to the augmentation of every aspects of globalization but yet had we reached it full
potential?

Globalization in the near-future will somehow cease to exist. This is when global economic growth has
decelerated, making it more “financialized”, debt has increased and “monetary activism” has become
more rampant. Central banks will inject monetary values into the economy by buying assets to sustain
international expansion, and also lateral effects of globalization somehow contribute to this like wealth
inequality, dominance of multinationals, and the diffusion of global supply chains, which have all
become hot political issues.

A new world order will somehow elucidate the shadows of globalization. One thing problematic
factor about globalization is there is no central body or uppermost authority to shape and struct it. By
overcoming this and appointing a central body we can control and regulate the expansion of
opportunities and prospects. But this can be critically-abused by people because of its tyrannical-
approach, because it can prioritize first the first world countries than less-developed countries.