Globalization was a major topic of discussion during the first week of class.

People,
companies, and governments from all over the world are interacting and integrating. Globalization
has both economic and social components. Conflicts and diplomacy have played a large role in the
history of globalization and modern globalization. Additionally, it is referred to as the process of
globalization. Globalization theories are also highlighted. Globalization has advanced
dramatically. It all originated in the 1st century B.C. China's luxury goods have been claimed to
have first surfaced on the other edge of the Eurasian continent, in Rome. Commerce had stopped
to be a local or regional affair and had evolved becoming a universal phenomenon. However, in
our subject, The Contemporary World, we only cover globalization from the 16th to the 20th
centuries.
Globalization have deeply affects our daily life without knowing. From buying our
things online to the things we buy on malls and grocery stores. And knowing how Globalization
works will help us understand how the world around us works. Globalization allows us to form a
global civil society. United Nations creation and existence is considered one of the classic
examples of globalization in politics. More of the example of this is the ASEAN or the Association
of Southeast Asian Nations. Philippines belong to ASEAN countries. Their aim is to enhance
growth in the economy, social progress, and cultural development, as well as to enhance regional
peace and stability, while maintaining a commitment to fairness and the rule of law in international
affairs and result to political growth. It allows peace between countries feasible. Many people don’t
know that. Exchanging of goods in a large scale or commerce belongs to globalization can greatly
benefit our country's income because of the taxes that government appointed. Production of
affordable products promotes economic growth. It increases the demand in supply that will sustain
more profit. Economic growth is an increase in the production of goods and services in an
economy. Most of the imported goods that we see on the markets these days are easy to afford due
to good communication within countries. Because of global competition Service quality and
manufacturing processes have resulted in increased product and service quality. According to
Guinigundo (2018), Total capital flows in the country climbed from 3.1 percent of GDP in the
1990s to 3.4 percent in the 2000s. In 2014, the further legalization of foreign bank entry was yet
another important reform implemented to boost financial access. Despite this, the average ratio of
capital flows to GDP from 2010 was 4.6 percent. This just shows that globalization has a great
impact on our economy. On the other hand, it also affects our indigenous people through
Deterritorialization. Also due to high demand in products bigger companies tend to exploit
workers. Due to the advancements of foreign companies’ local companies struggles to compete
resulting in closing of local businesses and jobless Filipino’s citizens. One of the example is instead
of buying local food products Filipinos tend to choose the imported products because its more
aesthetically pleasing. For example, is the McDonalds providing us with American dishes also
eating sushi or samgyupsal it is a form of cultural diffusion cause by globalization. Globalization
really affects our culture especially in young Filipinos, they are oblivious of Filipino traditions
and values and don't even embrace them in their everyday routines. This helps them get
familiarized with the western mindset and less like pure Filipinos. If we observed thoroughly, we
will find that most younger generations already forgot our traditions and values. They are much
more aware of foreign culture than ours.
 We must realize that globalization affect almost all aspects of our lives whether it is
advantageous or not. Through globalization, the development for good economy is still elevating,
the extensive opportunities keep on going and can reduced poverty. But years are needed in order
for low countries to catch up, yet advanced countries will keep getting higher because of
globalization. The unequal economic growth will continue to exist, but it is depending on us
people, on how we deal with all new possibilities, opportunities, and challenges that we might
confront in the future

REFERENCE:
Guinigundo, D. C. (2018). The Globalisation Experience And Its Challenges For The Philippine
Economy. BIS Papers. https://www.bis.org/publ/bppdf/bispap100_q.pdf