3.

Explain different aspect of Globalization

the International Monetary Fund (IMF) identified four basic aspects of globalization.

-trade and transactions

-Trade is the buying and selling of goods and services between different countries
around the world. Goods that are brought into a country are called imports and those that
are sold to another country are called exports. Global trade has been made possible
through the process of globalization.

-capital and investment movements

the flows of foreign currency between countries representing both short-term and long-
term investment in physical assets and financial securities and borrowings.

Globalization Increases International Investing. Companies benefit from pricing

differences, or arbitrage, in different markets for labor and supplies. Globalization
compels connected economies to continue to invest in each other to protect their
economic health and acquire new profits.

-migration and movement of people

-The international migration of people lies at the core of the ongoing process of
globalization. People migrate to improve their economic prospects, ensure a more secure
living environment, re-unite with their family members, or avoid persecution in their
country of origin.
-Cons
• Job vacancies and skills gaps can be filled.
• Economic growth can be sustained.
-Pros
• Migrants may be exploited.
• Unemployment may rise if there are unrestricted numbers of incomers.

-the dissemination of knowledge

-Globalization brings a key benefit. it stimulates the spread of knowledge and
technology, helping spread growth potential across countries. Investments in
education, human capital, and domestic research and development are thus essential to
build the capacity to absorb and efficiently use foreign knowledge.
4.

Globalization is the word used to describe the growing interdependence of the world's

economies, cultures, and populations, brought about by cross-border trade in goods and
services, technology, and flows of investment, people, and information.

In simple terms, globalization is the process by which people and goods move easily across
borders. Principally, it's an economic concept – the integration of markets, trade and
investments with few barriers to slow the flow of products and services between nations.

For example: People can pack up all their belongings and have them shipped anywhere in the
world. Planes are faster, frequent, and, often, more affordable. Food is another factor of
globalization. Filipino food, for example, is certainly not only limited to The Philippines.

International Organizations
- It's an intergovernmental organization, which means it's a group made up entirely of states.

International Organization Shape our world

The International Red Cross and Red Crescent Movement are the world's most inconspicuous
international non-governmental organizations. Although the Red Cross is linked with humanitarian
work, there was no organization to carry out such work and no rules for humanitarian concerns
stemming from war and conflict prior to its formation.

Henry Dunant, a Swiss businessman, released a book in 1862 about the aftermath of the 1859 battle of
Solferino, which he had witnessed firsthand.

All matters relating to the conduct of international relations were originally judged, juryed, and
executed by states. The state may act with impunity in relation to its population and territories under
the pretext of state sovereignty.

Those days are effectively over, as state impunity has been reduced by the pressure of outside interests,
which has been magnified by international non-governmental organizations. In no other field has there
been such a significant advancement as in the creation of international rights norms. While in office,
kings, presidents, prime ministers, and other state leaders used to be immune from criminal
prosecution. This, too, has altered.
The organization is usually based on a treaty or a multilateral agreement, and it is made up of more
than two countries. Member states decide how the organization is operated, vote within it, and give
financing.

-World War 2 (1945) – the United Nations (UN) is a prominent example of an international governing
organization with nearly universal membership, having ended World War 2.

- The United Nations admits only states as members, and membership is valuable because it provides
international acknowledgment of a member state's sovereignty.

- The United Nations has 193 member states in 2017; nevertheless, it is crucial to note that a tiny
number of countries are not members. Taiwan, for example, has applied for membership several times
but has been denied by China. This is due to the fact that China considers Taiwan to be part of its
sovereign territory and does not recognize it as a separate country. Taiwan, of course, wants to join the
United Nations because it will signal that the world community recognizes its sovereignty. Due to
China's significant role as one of the UN's most influential members, the Taiwan example has remained
unresolved for decades.