E/C IBAÑEZ, BEN ALDRIAN T.

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E/C IBAÑEZ, BEN ALDRIAN T. SOCIO 101 LEC - 62224
BSMARE - 3 GLOBALIZATION AND ITS EFFECTS FS (1:30-3:00pm)
Globalization always improves our lives. Water, mobile networking, internet, electricity, and other services have become easier and better
thanks to technological advancement. Globalization has also resulted in widespread internet access. Also, global technology transfer is
good for us. The agreement allows any country to borrow the technology and use it for their own development. We can easily
communicate from anywhere in the world using advanced technology at low cost, time, and effort. Globalization's key process of
economic integration helps countries fight poverty and raise people's standards of living. Many researchers claim that opening up trade
to the world accelerates economic growth and raises living standards. The advancement of technology and its global transfer helps
improve a country's infrastructure. Countries can better serve their citizens. Infrastructure development leads to overall country
development. It is necessary to state that economic growth and infrastructure development are compatible. Globalization allows
countries to accumulate foreign exchange reserves. Globalization ensures every country contributes to global GDP growth.

But we can't deny that globalization has flaws. Some people may be harmed by globalization's failure. Globalization can exacerbate global
inequality by increasing specialization and trade. A higher per capita income may be accompanied by relative poverty. Globalization
demands cheaper high-skilled work. But countries with weak institutions cannot produce highly skilled workers. As a result,
unemployment rates are rising. The trade balance refers to the value of goods and services exported and imported by a country.
Globalization allows any country to trade with any other country. That's why some developing countries rely on developed countries for
import goods, but their export capabilities are limited. The trade imbalance exists.
Globalization accelerates industrialization. Industrialization helps the economy but harms the environment. Globalization robs nature and
harms us greatly. Global free trade benefits the entire system. Global competition can disadvantage companies, organizations, and
workers. This is similar to how domestic competition may harm these parties: It's just widened.

Globalization can lead to unequal growth between and within nations. Economic and moral effects must be carefully managed.
Globalization often increases immigration within countries. Macroeconomically, immigration boosts GDP, which benefits the recipient
country. Short-term immigration may reduce GDP per capita if immigrants' income is lower than the average income of natives.
• Deforestation and loss of biodiversity due to economic specialization and infrastructure development
• Increased greenhouse gas emissions and other forms of pollution due to increased transportation of goods

In a nutshell, globalization alters the way nations, corporations, and individuals interact. It alters the structure of economic activity
between states by facilitating commerce, opening global supply chains, and facilitating access to natural resources and labor markets. I
support globalization's beneficial effects because it increases the total opportunities available to individuals, which encourages growth,
development, and advancement. For I believe that globalization entails a growing degree of connectivity between local and nationalistic
economies worldwide. It facilitates the global movement of products, people, technologies, ideas, and services across borders. It enables
other countries to join the rest of the globe and participate in global interdependence. As the largest corporations are no longer national
conglomerates but rather global partnerships.