Topic 1: Globalization leads to inequality

As a result of the globalization process, hundreds of people are able to live in the
security of not having to worry about food, money, health care, or educational
opportunities. They are fortunate enough to take such fundamentals for granted and to
be blissfully unaware of the widening divide between rich and poor. Several of the
research published in Globalization and Poverty, for example, imply that globalization
has been related with increased inequality, and that the poor have not always shared in
the benefits of international trade. Other themes develop as a result of reading the book.
There are several reasons for this, the first being that the poor in nations with an
abundance of unskilled labor do not usually benefit from trade reform.
Another is that the poor are more likely to benefit from globalization when
employees have the greatest possible degree of mobility, particularly when moving from
contracting economic sectors to expanding economic sectors. Indeed, globalization
produces both winners and losers among the poor, and this is undeniable. Another
result of trade and investment reforms in some countries was an increase in the number
of poor workers in exporting industries or sectors with foreign investment, while poverty
rates increased in formerly protected areas that became exposed to import competition.
Even within a single country, a trade reform may harm rural agricultural producers while
benefiting rural or urban consumers of the farmers' products. The relationship is
dependent not only on trade or financial globalization, but also on the interaction of
globalization with the rest of the economic environment, which includes investments in
human capital and infrastructure, the promotion of credit and technical assistance to
farmers, the establishment of trustworthy institutions and governance, and
macroeconomic stability, which includes the ability to adjust exchange rates when
necessary.
The relationship between globalization and poverty has a number of
ramifications. First and foremost, trade barriers that prevent developing countries from
exporting aggravate poverty in those countries. To address the poor in different nations
who are likely to be harmed by globalization, it is vital to target interventions with care.
Finally, the evidence implies that depending solely on trade or foreign investment to
alleviate poverty will not be sufficient in the long run. Education, improved infrastructure,
access to financing, and the capacity to relocate from contracting sectors to increasing
ones are all essential for the poor to take advantage of trade changes in order to
prosper.
Topic 2: The Impact of Globalization in the Philippines
Globalization is the process by which countries communicate and engage with
one another. It refers to expansion on a global or worldwide scale. Globalization is
defined as the process of contact and integration among the people and governments of
different countries, driven by international trade and investment and facilitated by
information and communication technology. Simple terms describe the movement of
money, goods and information as well as the movement of people, all of which are
increasing in speed and magnitude as time goes on. Since the country's development,
the globalization of the Philippines has, in my opinion, progressed farther and further.
There have been numerous technological and worldwide advancements in the
Philippines, and I believe that if this country continues to improve in this way, it will
finally achieve the objectives that have been set. In the Philippines, globalization has
shown to be extremely effective. Since 1995, when the Philippines participated in the
signing of agreements with the World Trade Organization, the economy has seen
significant transformations. There have been changes in the country, such as an
increase in labor and an increase in the number of businesses that have arisen to aid
the economy. Because of the influence of the United States during World War II, the
Philippines has experienced tremendous development in the field of globalization. The
Philippines moved up to the second rank on the list of the "Top 50 Digital Nations" in the
2018 Services Globalization Index, up from third place the previous year. There have
been numerous benefits that have accrued as a result of the rise of globalization in the
Philippines. Among these are the following: These items are really beneficial because
they contribute to the growth of the economy on a daily basis.
In the Philippines, a wide variety of crops are grown that are exported and traded
throughout the world. This is another factor contributing to globalization in the
Philippines. Rice, corn, and sweet potatoes are some of the most commonly sold crops
in the United States. In addition to the benefits of globalization, there have also been
certain drawbacks in the Philippines' experience. Other drawbacks include a large
number of unemployed people, poverty, and a reliance on agriculture as a source of
income. At the moment, globalization is more effective in the Philippines, as it
contributes to the development of local and foreign businesses, the improvement of
culture, the improvement of education, and the development of the economy.