Goodessa Weluck J.

Hiponia BSED 1C FILIPINO

CHAPTER 1: THE CONCEPT OF GLOBALIZATION

UPGRADING COMPETENCE AND EXPANDING INSIGHTS

Make a reflection paper on the issue, Globalization. Is it good or bad? Is it beneficial or
detrimental? How does it affect in your daily life?

Globalization can be both good and bad, an advantage and a disadvantage. For many
people, globalization is a beneficial process. Globalization has many benefits and here are the
important ones.
Cultures, information technology, investment, and international trade are all part of
globalization. Several countries have developed government policies to aid in the international
and domestic opening of their economies, with the goal of boosting development in emerging
and poor countries so that they can improve their living standards. Globalization provides
corporations with a competitive advantage. It assists companies in lowering their operating
costs. They are able to gain access to new markets and new raw supplies. They may acquire,
sell, and make products all across the world. Because of foreign trade agreements and
economic policies, governments all over the world have adopted free market economic systems.
International financial opportunities and industrialisation have come as a result of the new
system. They have grown more open to international commerce by eliminating many of the
constraints that previously prevented them from doing business with other nations.
Globalization has expanded customer knowledge of various financial alternatives,
economic trends, and new goods. The advancement of information and communication
technology aids in the public's knowledge of these possibilities. The transfer and routing of
financial assets has also become faster and easier thanks to technological advancements.
Globalization improves the social connectivity of people all over the world. It encourages a
greater interchange of values and ideas on a cultural level. Through collaboration with
multilateral bodies, it elevates national political activity to a global level.
Changes in the establishment and application of international laws are brought about by
globalization. Through increased economic expansion, diversification, and manufacturing,
globalization allows developing countries to catch up to industrialized countries. It raises the
living standards of the countries involved. Globalization gives the outsourcing industries a big
boost, bringing technology and more jobs to other countries. It encourages many companies to
specialize, increase their capital, improve their research and development efforts and help them
innovate. It creates additional job prospects, particularly in the export and import industries. As a
result of globalization, household income rises. Because the cost of consumption is lower, it
lowers inflation rates and raises workers' take-home income.
Lastly, globalization allows many goods to be more affordable and available to more
parts of the world. It helps improve productivity, cut back gender wage discrimination, give more
opportunities to women and improve working conditions and quality of management, especially
in developing countries.
Goodessa Weluck J. Hiponia BSED 1C FILIPINO

The following are the most significant advantages of globalization. It enables you to
observe the effects of globalization on the global community. While the benefits are many,
globalization likewise has its disadvantages. Some developed countries, such as France, are
skeptical about globalization. They believe that as a result of globalization, employers will take
their jobs and relocate them to countries with lower labor costs.
Globalization also poses a risk to national and local economy. When multinational
corporations enter emerging and developing markets, they have a propensity to impose their
methods, practices, and culture on the target countries. They may be able to take advantage of
the circumstances to fight conflicts. It has the potential to lead to the adoption of foreign
thoughts and ideas. Imposing Western culture and ideals on nations where Islamic culture
reigns and other nations with distinct customs and beliefs might be harmful. It can sometimes
lead to a debate about national identity. Although globalization makes other languages more
accessible to a wider audience, it can also lead to the extinction of some minority languages.
Speakers of minority languages have little option but to forsake their native tongues and adopt
the widely spoken languages used in business because most worldwide corporations use major
languages such as English, German, French, or Spanish. Workers have been replaced by
automation and technological breakthroughs, leaving them jobless.
Globalization has resulted in the loss of biodiversity, the rise of local populations, and
climatic change as more towns, villages, and nations become industrialized. Small, family-
owned, and private businesses operating in the global market face more risks as a result of free
trade. They are up against a lot of competition from firms with a lot of money.
Some of the aspects that are positively impacted by globalization are also negatively
affected by the process. These consequences highlight the need for balance and careful
policing in order for globalization to be more effective, particularly in developing and emerging
economies.