What are your insights on the impact of economic globalization?

Given its problems, how do

you think it is best to address these problems? What are your thoughts on the interview you
have conducted?

Initially, I perceived economic globalization isn’t ideal since it seems a little unfair.
Truly, that globalization affects everyone but its influence differs to its recipient. If I were to
ask two beings with contrasting social status: a beggar, and a business owner, "ramdam mo ba
ang paglago ng ekonomiya (are you affected by the country's economic growth)?" I am sure
they'll have different response. Moreover, even if the market is open to anyone with interest to
be part of it, it is undeniable that not everyone is given equal opportunity or resources to open
a business. However, I can’t ignore the fact that economic globalization definition of "fair" is
not the same with other market systems. Even so, globalization is greatly valuable with the
glorified capitalist approach that brings innovation, comparative advantage, modernization, etc.
In spite of this, the bottom line is I still can’t say that its beneficial traits demerits its negative
effects especially the element of non-inclusivity and exploitation.

As a consequence of its negative characteristics, I believe the best way to address this is
to establish rules and a recognized framework to ensure that it benefits everybody and it doesn’t
have to be a one-fits-for-all approach. Indeed it is proven that government intervention doesn’t
work and abandoning it altogether now and retreating from globalization won’t be ideal either
so that doesn’t mean we should keep doing the same old things. Ignoring the very real costs of
trade and globalization is not only counterproductive but indefensible. Instead, we need to move
forward based on a new economic agenda, a flexible one that promotes inclusion and helps
workers and communities caught in transition. Moreover, I strongly agree to Gary Pinkus, 2017
on his article “We Can’t Undo Globalization, but We Can Improve It” when he mentioned that
what the country requires is to focus on reinvesting in smaller communities, lower the costs and
barriers to trade, match smaller firms with foreign markets, match communities with foreign
investors, ensure freed access to cross-border digital platforms, provide greater safety net
measures, update our system of unemployment insurance, etc. By doing this, we can ensure that
in some way not only few people will benefit from the influence of globalization but it will
open up more opportunities to dislocated groups of society and I agree with that.
 With my interview to my mom’s friend, she allowed me to share her insights on how
globalization affected her career, a healthcare worker overseas. Because of Globalization, she
was able to work on various multinational companies that opened up here in the Philippines and
was given opportunity to work in United States. She believes that Globalization paved the way
for better choices. However, she agrees that Globalization isn’t very agreeable to Philippines
due to comparative advantage of other countries for medical workers and migration of
healthcare professionals, like nurses, made it hard for the country to keep up with the global
competency on the medical field. Furthermore, given with her statement I think that the ideal
Economic Globalization is still far away from our reach. Not until we can’t cope up with the
backslash of unorganized trade that results to job losses, cheaper labour wages, and declining
competent proffesionals.