Lesson 1: What is Globalization?

Directions: After reading the story entitled “Gio, Latif, and the Laksa”, answer the questions that
follow. Write your answers on the spaces provided below and be guided with the rubrics indicated.

Answer: Gio and Latif are the important characters in the role and the British Is about gio was a
shame since he never knew anything about Malaysian culture when his new friend Latif knew
much about the Philippines, but latif answered he’s the question by him asking what is like in
Malaysian and Latif explain gio briefly and he told gio about the food cuisine, Chinese cuisine
Indian cuisine and Malaysia a little and introduce their new stuff this where globalization starts
by trading ideas or improving, the story is you should try to explore about the country culture
food religions and etc. so if you meet someone from another country you already have an idea
or overview what they in their country, that we do not have in our own country. The two friends
met up, and after a long hug and quick questions as to know what each other.
Application:

What is globalization? - Globalization is the free movement of goods, services and people across the
world in a seamless and integrated manner. Globalization can be thought of to be the result of the
opening up of the global economy and the concomitant increase in trade between nations.

Financial globalization - Financial Globalization means the globalization or the integration of the
financial markets across the world. The primary aim of this globalization is to create a single financial
market and facilitate the smooth movement of financial capital globally.

Cultural globalization - cultural globalization it refers to the interpenetration Of cultures which, as a

consequence, means nations adopt principles, beliefs, and costumes of other nations, losing their
unique culture to a unique, globalized supra-cultural.

Political globalization - political Globalization the development and growing influence of international
organizations such as the UN or WHO Means governmental action takes place at an international level.

Sociological globalization - Also known as sociological globalization, social globalization refers to the
integration of our societies. Not to be confused with cultural globalization, sociological globalization
refers to the idea that we now live in a shared society.

Technological globalization - Technological globalization has many effects. The spread of information
and communication technologies has helped to reduce the cost of goods and jobs in traditional
manufacturing. It has also spread media culture. The United States has become a global leader in media,
with many of its shows and movies produced in other countries. Some people are concerned that this
process will dilute indigenous cultures and lead to cultural homogenization. However, technological
globalization has its advantages and disadvantages.
Reflection:
Philippines

Access to New Cultures

The Spread of Technology and Innovation

Higher Costs for Products

Foreign corporations and investors that want to expand their business to the Philippines can do so by
establishing a domestic corporation or a resident foreign corporation. They can own up to 100% equity if
they set up domestic corporations – depending on the type of industry, target market, and capitalization. If
they plan to register a resident foreign corporation, they are restricted to some extent to participate in
areas of economic activity that are partially or wholly exclusive to Filipino entrepreneurs.