Name: Kyla Shaine D.

Velchez AB PolScie 1

Contemporary World

Explain the following:

1. Meaning of Globalization - The term "globalization" refers to the rising

interconnectedness of the world's economies, cultures, and inhabitants, as a

result of cross-border commerce in commodities and services, technology, and

investment, people, and information flows.

2. Globalization and Competitiveness – Globalization and competition are two of the

most often mentioned topics in public debate. However, both of them,

surprisingly (or not), mean different things to different people (and the meanings

of the concepts themselves have evolved over time), they are analyzed and

evaluated using specific methods and measures at various levels, and they lead

to different conclusions – generated by various – theoretical and practical –

approaches. As a result, there are several interdependencies between

globalization and competitiveness if you think about it We discuss them both

diachronically and synchronously. There is no question that globalization is the

overarching framework within which organizations – enterprises, clusters, and

nations – seek to achieve long-term competitiveness. And this is happening

because, given the objective liberalization and globalization of the (almost) entire

world, the search for (global) competitiveness is a non-optional desire or

preference – in order for firms and clusters to simply survive, and for countries to

grow and develop.

3. Brief Modern History of Globalization- Globalization may have started as early as

the trade routes between China and Europe, in terms of technical terms. Many

timelines regarding the history of globalization will cover this time period and

discuss the expansion of global trade from that moment forward. Of course, it

isn't where most people believe the beginning point to be. The more recent term

is generally acknowledged to be in the 1980s, when globalization exploded.

Many factors have led to the current globalization age. Many of them were

developed long before the contemporary trend of globalization, and it is because

of these characteristics that it has become a driving force in the present global

economy. Ships and airplanes had existed for decades (and in the case of ships,

centuries) prior to the most recent wave of globalization, but they laid the

groundwork for it. With transportation prices falling, it makes more sense to

manufacture your product in a less expensive part of the world and then ship it to

its final destination. The internet and technological advancements, which have

had the biggest influence on recent hyper-globalization, go hand in hand with

this.

4. Measuring Globalization - Globalization indicators include capital flows and

foreign direct investments, international commerce, multinational business

economic activity, and technology internationalization. Economic integration is

also measured by the Globalization Index. It examines the evolving percentage

of international commerce in each country's economy and analyzes the

permeability of national boundaries through the convergence of local and

international pricing to track the flow of commodities and services.