GEC 8

MODULE 1

Governor Mariano E. Villafuerte Community College- Siruma

Poblacion, Siruma Camarines Sur
gmvcc.siruma@gmail.com
MODULE OBJECTIVE

At the end of this module, students should be able to:

1. Define what is globalization

2. Know the history of globalization
3. Understand the concept and causes of globalization
4. Understand the benefits and challenges of globalization

MODULE CONTENT

Introduction to the study of Globalization 2

What is globalization? 2

The History of Globalization 2

THE CONCEPT and CAUSES 5

What Are the Benefits of Globalization? 8

What are the Challenges of Globalization? 9

How Globalization Changes Your Daily Businesses Operations 10

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Introduction to the study of Globalization

What is globalization?

Globalization is the spread of products, technology, information, and jobs across national
borders and cultures. In economic terms, it describes an interdependence of nations around the
globe fostered through free trade.

On one hand, globalization has created new jobs and economic growth through the cross-
border flow of goods, capital, and labor. On the other hand, this growth and job creation is not
distributed evenly across industries or countries. Specific industries in certain countries, such as
textile manufacturing in the U.S. or corn farming in Mexico, have suffered severe disruption or
outright collapse as a result of increased international competition.

Globalization motives are idealistic, as well as opportunistic, but the development of a

global free market has benefited large corporations based in the Western world. Its impact
remains mixed for workers, cultures, and small businesses around the globe, in both developed
and emerging nations.

Globalization Explained
Corporations gain a competitive advantage on multiple fronts through globalization. They
can reduce operating costs by manufacturing abroad. They can buy raw materials more cheaply
because of the reduction or removal of tariffs. Most of all, they gain access to millions of new
consumers.

Globalization is a social, cultural, political, and legal phenomenon.

• Socially, it leads to greater interaction among various populations.

• Culturally, globalization represents the exchange of ideas, values, and artistic expression
among cultures.
• Globalization also represents a trend toward the development of single world culture.
• Politically, globalization has shifted attention to intergovernmental organizations like
the United Nations (UN) and the World Trade Organization (WTO).
• Legally, globalization has altered how international law is created and enforced.

The History of Globalization

Globalization is not a new concept. Traders traveled vast distances in ancient times to buy
commodities that were rare and expensive for sale in their homelands. The Industrial
Revolution brought advances in transportation and communication in the 19th century that eased
trade across borders.

The think tank, Peterson Institute for International Economics (PIIE), states globalization
stalled after World War I and nations' movements toward protectionism as they launched import
taxes to more closely guard their industries in the aftermath of the conflict. This trend continued
through the Great Depression and World War II until the U.S. took on an instrumental role in
reviving international trade.

Globalization has since sped up to an unprecedented pace, with public policy changes and
communications technology innovations cited as the two main driving factors.

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 One of the critical steps in the path to globalization came with the North American Free
Trade Agreement (NAFTA), signed in 1993. One of NAFTA's many effects was to give American
auto manufacturers the incentive to relocate a portion of their manufacturing to Mexico where
they could save on the costs of labor. As of February 2019, the NAFTA agreement was due to be
terminated, and a new trade agreement negotiated by the U.S., Mexico, and Canada was pending
approval by the U.S. Congress.

Governments worldwide have integrated a free market economic system through fiscal
policies and trade agreements over the last 20 years. The core of most trade agreements is the
removal or reduction of tariffs.

This evolution of economic systems has increased industrialization and financial

opportunities in many nations. Governments now focus on removing barriers to trade and
promoting international commerce.

Globalization as ‘Globaloney’

A small and rapidly decreasing number of scholars contend that existing accounts of
globalization are incorrect, imprecise, or exaggerated. They note that just about everything that
can be linked to some transnational process is cited as evidence for globalization and its growing
influence. Hence, they suspect that such general observations often amount to little more than
‘globaloney’ (Held and McGrew, 2007; Rosenberg, 2000; Veseth, 2010). The arguments of these
globalization critics fall into three broad categories. Representatives of the first group dispute the
usefulness of globalization as a sufficiently precise analytical concept. Members of the second
group point to the limited nature of globalizing processes, emphasizing that the world is not nearly
as integrated as many globalization proponents believe. In their view, the term ‘globalization’
does not constitute an accurate label for the actual state of affairs. The third group of critics
disputes the novelty of the process while acknowledging the existence of moderate globalizing
tendencies. They argue that those who refer to globalization as a recent process miss the bigger
picture and fall prey to their narrow historical framework. Let us examine the respective
arguments of these three groups in more detail.

Rejectionists

Scholars who dismiss the utility of globalization as an analytical concept typically advance
their arguments from within a larger criticism of similarly vague words employed in academic
discourse. Besides globalization, another often-cited example for such analytically impoverished
concepts is the complex and ambiguous phenomenon of nationalism. Craig Calhoun (1993), for
example, argues that nationalism and its corollary terms ‘have proved notoriously hard concepts
to define’ because ‘nationalisms are extremely varied phenomena’, and ‘any definition will
legitimate some claims and delegitimate others’. Writing in the same critical vein, Susan Strange
(1996) considers globalization a prime example of such a vacuous term, suggesting that it has
been used in academic discourse to refer to ‘anything from the Internet to a hamburger’. See
also Clark (1999: 34–40). Similarly, Linda Weiss (1998) objects to the term as ‘a big idea resting
on slim foundations’. Scholarly suggestions for improvement point in two different directions. The
first is to challenge the academic community to provide additional examples of how the term
‘globalization’ obscures more than it enlightens. Such empirically based accounts would serve as
a warning to extreme globalization proponents. Ultimately, the task of more careful researchers
should be to break the concept of globalization into smaller, more manageable parts that contain
a higher analytical value because they can be more easily associated with empirical processes.

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This rationale underlies Robert Holton's (1998) suggestion to abandon all general theoretical
analyses in favour of middle-range approaches that seek to provide specific explanations of
particulars. The second avenue for improvement involves my own suggestion to complement the
social scientific enterprise of exploring globalization as an objective process with more interpretive
studies of the ideological project of globalism. Following this argument, the central task for
scholars working in the emerging field of globalization studies would be to identify and evaluate
the ideological manoeuvres of prominent proponents and opponents who have filled the term
with values and meanings that bolster their respective political agendas.

Sceptics

The second group emphasizes the limited nature of current globalizing processes. This
perspective is perhaps best reflected in the writings of Wade (1996); and Hirst, Thompson and
Bromley (2009). See also Rugman (2001). In their detailed historical analysis of economic
globalization, Hirst and Thompson (2009) claim that the world economy is not a truly global
phenomenon, but one centred on Europe, eastern Asia, and North America. The authors
emphasize that the majority of economic activity around the world still remains primarily national
in origin and scope. Presenting recent data on trade, foreign direct investment, and financial
flows, the authors warn against drawing global conclusions from increased levels of economic
interaction in advanced industrial countries. Hirst and Thompson advance an argument against
the existence of economic globalization based on empirical data in order to attack the general
misuse of the concept. Without a truly global economic system, they insist, there can be no such
thing as globalization: ‘[A]s we proceeded [with our economic research] our skepticism deepened
until we became convinced that globalization, as conceived by the more extreme globalizers, is
largely a myth.’ Doremus et al. (1998) and Zysman (1996) reached a similar conclusion. Buried
under an avalanche of relevant data, one can nonetheless detect a critical-normative message in
the Hirst–Thompson thesis: it is to show that exaggerated accounts of an ‘iron logic of economic
globalization’ tend to produce disempowering political effects. For example, the authors
convincingly demonstrate that certain political forces have used the thesis of economic
globalization to propose national economic deregulation and the reduction of welfare
programmes. The implementation of such policies stands to benefit neo-liberal interests. But there
also remain a number of problems with the Hirst–Thompson thesis. For example, as several critics
have pointed out, the authors set overly high standards for the economy in order to be counted
as ‘fully globalized’. See, for example, Held et al. (1999) and McGrew and Held (2007). Moreover,
their efforts to construct an abstract model of a perfectly globalized economy unnecessarily
polarize the topic by pressuring the reader to either completely embrace or entirely reject the
concept of globalization. Perhaps the most serious shortcoming of the Hirst–Thompson thesis lies
in its attempt to counteract neo-liberal economic determinism with a good dose of Marxist
economic determinism. Their argument implicitly assumes that globalization is primarily an
economic phenomenon. As a result, they portray all other dimensions of globalization – culture,
politics, and ideology – as reflections of deeper economic processes. While paying lip service to
the multidimensional character of globalization, their own analysis ignores the logical implications
of this assertion. After all, if globalization is truly a complex, multilevel phenomenon, then
economic relations constitute only one among many globalizing tendencies. It would therefore be
entirely possible to argue for the significance of globalization even if it can be shown that
increased transnational economic activity appears to be limited to advanced industrial countries.

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Modifiers

The third and final group of globalization critics disputes the novelty of the process,
implying that the label ‘globalization’ has often been applied in a historically imprecise manner.
Robert Gilpin (2000), for example, confirms the existence of globalizing tendencies, but he also
insists that many important aspects of globalization are not novel developments. Citing relevant
data collected by the prominent American economist Paul Krugman, Gilpin notes that the world
economy in the late 1990s appeared to be even less integrated in a number of important respects
than it was prior to the outbreak of World War I. Even if one were to accept the most optimistic
assessment of the actual volume of transnational economic activity, the most one could say is
that the post-war international economy has simply restored globalization to approximately the
same level that existed in 1913. Gilpin also points to two additional factors that seem to support
his position: the globalization of labour was actually much greater prior to World War I, and
international migration declined considerably after 1918. Hence, Gilpin warns his readers against
accepting the arguments of ‘hyper-globalizers’. For a similar assessment, see Burtless et al. (1998)
and Rodrik (1997). Similar criticisms come from the proponents of world-system theory.
Pioneered by neo-Marxist scholars such as Immanuel Wallerstein (1979) and Andre Gunder Frank
(1998), world-system theorists argue that the modern capitalist economy in which we live today
has been global since its inception five centuries ago. See also Chase-Dunn (1998). For a
Gramscian neo Marxist perspective, see Rupert and Smith (2002). World-system theorists reject,
therefore, the use of the term ‘globalization’ as referring exclusively to relatively recent
phenomena. Instead, they emphasize that globalizing tendencies have been proceeding along
the continuum of modernization for a long time. The greatest virtue of the world-system critique
of globalization lies in its historical sensitivity. Any general discussion of globalization should
include the caution that cross-regional transfers of resources, technology, and culture did not
start only in the last few decades. Indeed, the origins of globalizing tendencies can be traced
back to the political and cultural interactions that sustained the ancient empires of Persia, China,
and Rome. On the downside, however, a world-system approach to globalization suffers from the
same weaknesses as the Marxist economic determinist view pointed out above in my discussion
of the Hirst–Thompson thesis. Wallerstein (1990) leaves little doubt that he considers global
integration to be a process driven largely by economic forces whose essence can be captured by
economistic analytical models. Accordingly, he assigns to culture and ideology merely a
subordinate role as ‘idea systems’ dependent on the ‘real’ movements of the capitalist world
economy.

THE CONCEPT

It is the world economy which we think of as being globalized. We mean that the whole
of the world is increasingly behaving as though it were a part of a single market, with
interdependent production, consuming similar goods, and responding to the same impulses.
Globalization is manifested in the growth of world trade as a proportion of output (the ratio of
world imports to gross world product, GWP, has grown from some 7% in 1938 to about 10% in
1970 to over 18% in 1996). It is reflected in the explosion of foreign direct investment (FDI): FDI
in developing countries has increased from $2.2 billion in 1970 to $154 billion in 1997. It has
resulted also in national capital markets becoming increasingly integrated, to the point where
some $1.3 trillion per day crosses the foreign exchange markets of the world, of which less than
2% is directly attributable to trade transactions.

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 While they cannot be measured with the same ease, some other features of globalization
are perhaps even more interesting. An increasing share of consumption consists of goods that
are available from the same companies almost anywhere in the world. The technology that is
used to produce these goods is increasingly standardized and invariant to the location of
production. Above all, ideas have increasingly become the common property of the whole of
humanity.

This was brought home to me vividly by a conference that I attended four years ago,
where we discussed the evolution of economic thought around the world during the half-century
since World War Two (Coats 1997). We debated whether the increasing degree of convergence
in economic thinking and technique, and the disappearance of national schools of economic
thought, could more aptly be described as the internationalization, the homogenization, or the
Americanization of economics. My own bottom line was that economics had indeed been largely
internationalized, that it had been substantially homogenized, but only to a limited extent
Americanized, for non-American economists continue to make central contributions to economic
thought, as the Nobel Committee recognized by its award to Amartya Sen a few weeks before
this conference took place. Incidentally, the nicest summary of the change in economic thinking
over the period was offered by the Indian participant in that conference, who remarked that his
graduate students used to return from Cambridge, England focusing on the inadequacies of the
Invisible Hand, while now they return from Cambridge Mass. focusing on the inadequacies of the
Visible Hand! In the same vein, one of the more telling criticisms of my phrase "the Washington
Consensus" was that the (substantial though certainly incomplete) consensus on economic policy
extends far beyond Washington.

However, there are areas where globalization is incomplete, even in the economic sphere.
In particular, migration is very far from being free. Highly skilled professionals have a relatively
high degree of mobility, but those without skills often face obstacles in migrating to higher-wage
countries. Despite the difficulties, substantial proportions of the labour forces of some countries
are in fact working abroad: for example, around 10% of the Sri Lankan labour force is now
abroad.

Moreover, globalization is much less of a reality in other fields than it is in the economic
one. Culture still displays strong national, and even regional and local, variations. While English
is clearly in the process of emerging to be a common world language, at least as a second
language, minority languages are making something of a comeback, at least in developed
countries. Sport is still very different around the world: the Americans have still not learnt to play
cricket, and most of the rest of us have still not learned to understand what they see in baseball.
Although the nation state is far less dominant than it used to be, with significant powers being
devolved both downwards to regional and local authorities and upwards to international and in
Europe to supranational institutions (and although "interfering in the internal affairs of another
state" is less frowned on than formerly), politics is still organized primarily on the basis of nation-
states.

CAUSES

Globalization is not a new phenomenon. The world economy has become increasingly
interdependent for a long time. However, in recent decades the process of globalisation has
accelerated; this is due to a variety of factors, but important ones include improved trade,
increased labour and capital mobility and improved technology.

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Main reasons that have caused globalisation

Improved transport, making global travel

easier. For example, there has been a rapid
growth in air travel, enabling greater
movement of people and goods across the
globe.

Containerisation. From 1970, there was a

rapid adoption of the steel transport container.
This reduced the costs of inter-modal
transport, making trade cheaper and more efficient.

Improved technology which makes it easier to communicate and share information around
the world. E.g. internet. For example, to work on improvements on this website, I will go to a
global online community, like elance.com. There, people from any country can bid for the right
to provide a service. It means that I can often find people to do a job relatively cheaply
because labour costs are relatively lower in the Indian sub-continent.

Growth of multinational companies with a global presence in many different economies.

Growth of global trading blocks which have reduced national barriers. (e.g. European
Union, NAFTA, ASEAN)

Reduced tariff barriers which encourage global trade. Often this has occurred through the
support of the WTO.

Firms exploiting gains from economies of scale to gain increased specialisation. This is an
essential feature of new trade theory.

Growth of global media.

Global trade cycle. Economic growth is global in nature. This means countries are
increasingly interconnected. (e.g. recession in one country affects global trade and invariably
causes an economic downturn in major trading partners.)

Financial system increasingly global in nature. When US banks suffered losses due to the
sub-prime mortgage crisis, it affected all major banks in other countries who had bought
financial derivatives from US banks and mortgage companies.

Improved mobility of capital. In the past few decades, there has been a general reduction
in capital barriers, making it easier for capital to flow between different economies. This has
increased the ability for firms to receive finance. It has also increased the global
interconnectedness of global financial markets.

Increased mobility of labour. People are more willing to move between different countries
in search for work. Global trade remittances now play a large role in transfers from developed
countries to developing countries.

Internet. This enables firms to communicate on a global level, this may overcome managerial
diseconomies of scale. The firm may be able to get cheaper supplies by dealing with a wider

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choice of firms. Consumers are also able to order more goods online E.G. Dell Computers takes
orders online and can meet customer specification.

What Are the Benefits of Globalization?

Globalization impacts businesses in many different ways. But those who decide to take on
international expansion find several benefits, including:

1. Access to New Cultures

Globalization makes it easier than ever to access foreign culture, including food,
movies, music, and art. This free flow of people, goods, art, and information is the reason
you can have Thai food delivered to your apartment as you listen to your favorite UK-
based artist or stream a Bollywood movie.

2. The Spread of Technology and Innovation

Many countries around the world remain constantly connected, so knowledge and
technological advances travel quickly. Because knowledge also transfers so fast, this
means that scientific advances made in Asia can be at work in the United States in a
matter of days.

3. Lower Costs for Products

Globalization allows companies to find lower-cost ways to produce their products.

It also increases global competition, which drives prices down and creates a larger variety
of choices for consumers. Lowered costs help people in both developing and already-
developed countries live better on less money.

4. Higher Standards of Living Across the Globe

Developing nations experience an improved standard of living—thanks to

globalization. According to the World Bank, extreme poverty decreased by 35% since
1990. Further, the target of the first Millennium Development Goal was to cut the 1990
poverty rate in half by 2015. This was achieved five years ahead of schedule, in 2010.
Across the globe, nearly 1.1 billion people have moved out of extreme poverty since that
time.

5. Access to New Markets

Businesses gain a great deal from globalization, including new customers

and diverse revenue streams. Companies interested in these benefits look for flexible and
innovative ways to grow their business overseas. International Professional Employer
Organizations (PEOs) make it easier than ever to employ workers in other countries
quickly and compliantly. This means that, for many companies, there is no longer the
need to establish a foreign entity to expand overseas.

6. Access to New Talent

In addition to new markets, globalization allows companies to find new, specialized

talent that is not available in their current market. For example, globalization gives
companies the opportunity to explore tech talent in booming markets such as Berlin or
Stockholm, rather than Silicon Valley. Again, International PEO allows companies to

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 compliantly employ workers overseas, without having to establish a legal entity, making
global hiring easier than ever.

What are the Challenges of Globalization?

While globalization offers many benefits, it’s not without challenges. Velocity Global’s 2020
State of Global Expansion™ Report: Technology Industry reveals some of the top challenges that
U.S. and UK tech leaders face when taking their companies global, and leaders of other companies
likely face the same obstacles.

Some of the hurdles companies face when going global include:

1. International Recruiting

It’s not surprising that 30% of U.S. and UK tech leaders cited international recruiting as
their most common challenge. Recruiting across borders creates unknowns for HR teams. First,
companies create a plan for how they will interview and thoroughly vet candidates to make sure
they are qualified when thousands of miles separate them from headquarters. Next, companies
need to know the market’s demands for salaries and benefits to make competitive offers. To
ensure successful hires, HR teams must factor in challenges like time zones, cultural differences,
and language barriers to find a good fit for the company.

2. Managing Employee Immigration

Immigration challenges cause a lot of headaches internally, which is why 28% of U.S. and UK
tech leaders agreed it was one of their top challenges. Immigration laws change often, and in
some countries, it is extremely difficult to secure visas for employees that are foreign nationals.
The U.S., for example, is getting stricter with granting H-1B visas, and Brexit makes the future of
immigration to the UK uncertain.

3. Incurring Tariffs and Export Fees

Another challenge both U.S and UK tech leaders said they face in the report is incurring
tariffs and export fees—29% agreed this is a challenge for their global businesses. For
companies looking to sell products abroad, getting those items overseas can be expensive,
depending on the market.

4. Payroll and Compliance Challenges

Another common global expansion obstacle is managing overseas payroll and

maintaining compliance with changing employment and tax laws. This management task gets
even more difficult if you’re trying to manage operations in multiple markets.

5. Loss of Cultural Identity

While globalization has made foreign countries easier to access, it has also begun to
meld unique societies together. The success of certain cultures throughout the world caused
other countries to emulate them. But when cultures begin to lose their distinctive features, we
lose our global diversity.

6. Foreign Worker Exploitation

Lower costs do benefit many consumers, but it also creates tough competition that leads
some companies to search for cheap labor sources. Some western companies ship their

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production overseas to countries like China and Malaysia, where lax regulations make it easier
to exploit workers.

7. Global Expansion Difficulties

For businesses that want to go global and discover the benefits of globalization, setting
up a compliant overseas presence is difficult. If companies take the traditional route of setting
up an entity, they need substantial upfront capital, sometimes up to $20,000, and costs of
$200,000 annually to maintain the business. Additionally, global businesses must keep up with
different and ever-changing labor laws in new countries. When expanding into new countries,
companies must be aware of how to navigate new legal systems. Otherwise, missteps lead to
impediments and severe financial and legal consequences.

8. Immigration Challenges and Local Job Loss

The political climates in the United States and Europe show that there are different
viewpoints on the results of globalization. Many countries around the globe are tightening their
immigration rules, and it is harder for immigrants to find jobs in new countries. This rise in
nationalism is mainly due to anger from the perception that foreigners fill domestic jobs or at
companies moving their operations abroad to save money on labor costs.

For example, the Economic Policy Institute reports that the U.S. trade deficit with China
(or the amount by which our imports exceed our exports) cost Americans 3.4 million jobs since
2001.

How Globalization Changes Your Daily Businesses Operations

Both the benefits and challenges of globalization change how a business operates in different
ways. When companies decide to go global, they must be ready and willing to change internal
processes. This helps to accommodate new markets and make their global workforce feel
comfortable and accepted at work.

Companies see many aspects of their businesses change once they enter the global
marketplace. For example, globalization makes the workforce more diverse. This diversity is an
overall positive change, but it creates some challenges, such as language barriers and
differences in cultural expectations.

Some operational changes companies should expect from globalization include:

1. Global Communication Challenges

Before starting to branch out from headquarters, firms have to put an established
internal communication plan in place since global employees likely work in a different time zone
and have a different native language.

Software and other digital tools help smooth global communication hurdles and allows teams to
connect easily. Zoom, Slack, and Google all provide valuable tools for companies trying to
manage employees in multiple offices, countries, and time zones.

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2. International Employee Expectations

Foreign employees have different expectations when it comes to things like salary and
benefits, as well as how they manage their daily work schedules. Companies that want to take
advantage of globalization and hire foreign workers need to accommodate them as much as
possible. HR teams must also ensure their offers are competitive and on-par with local
expectations during the hiring process.

3. Supporting Foreign Customers

Similar to communication changes with employees, companies must also plan for how
they run customer service and support in new countries. Customers in the new market where
you offer your products or services might not speak your native language or be close to your
time zone.

4. Increased Competition

International companies have to adjust more than internal operations. Going global
opens up new revenue streams and increases availability to talent. Because of these attractive
benefits, and the ease of going global due to services like International PEO, the global
marketplace is competitive. As globalization becomes the norm, many companies often seek the
same foreign markets, which increases competition for businesses.

5. Marketing and Communication Changes

Just like hiring employees in different countries creates internal communication

challenges, marketing your products or services to a completely new audience creates obstacles
for companies. Businesses need to adjust their marketing strategies to communicate the
benefits of their product in a way that resonates with a foreign audience. You cannot assume
that a marketing campaign targeting an American audience (or wherever your HQ location is)
attracts consumers in Europe, Asia, or any other popular market, as the consumers there have
very different wants and needs.

REFERENCES:

• https://www.piie.com/commentary/speeches-papers/globalization-concept-causes-and-
consequences#:~:text=It%20is%20the%20world%20economy,responding%20to%20t
he%20same%20impulses.
• https://www.economicshelp.org/blog/401/trade/what-caused-globalization/
• https://www.scribd.com/document/384884955/The-SAGE-Handbook-of-Globalization-
Manfred-Steger-Et-al-Eds

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Answer the following questions. Using your own words, Minimum of one hundred words.

1. What is globalization?

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2. How globalization affects business operations?

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3. Give 3 benefits of globalization. Explain each benefit.

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