NAME: CALIMAG, KALVIN ISAIAH D.

SECTION: UP-FB2-BSIT1-10
STUDENT NUMBER: 03-2122-030166 SUBJECT: GEN005

GEN005: P3 QUIZ

Having a wide variety of products & services, cheaper bangs for bucks, and better job openings is hands-
down incredible. Our lives in a daily basis, are offered with so much opportunity from pole to pole.
However, there is a limit to which these opportunities are met. It is impossible for all deals at all times to
be taken. Therefore, the only deals that are being taken are the notably bargainous ones - those within
the crème de la crème, because in the business world, that's what brings in the cash and what brings in
the cash, is the company's first and foremost priority. We already know this, howbeit we seldom think or
talk about it, and we certainly never consider why this could be an underlying issue.

When we understand this well enough, the narrative that globalization is this miracle mechanism set to
save the world's population from being economically bound, narrows down only to a selective few. Most
businesses are incapable of keeping up due to the presence and dominance of already successful
companies. These businesses cannot provide better offers to suit the hot and demanded needs on par
with their goliath competitors, not only preventing them from prospering economically but leaving them
isolated to their respective socio-economic classes.

Truth be told, even those who are successful in the pursuit of this do not get appropriately
compensated, because the distribution of incentives for contribution to globalization are in favor of
individuals within the upper parts of the hierarchical structure of companies, leaving those with less
specialized positions, paid inequitably, and with little regard to their cumulative contribution in the
entirety of the processes made - furthering the gap between rich and poor. In line with this, a viable
solution, although varying from country-to-country, is improving governance to take regulatory
measures, such as modifications within the terms and conditions set between governments to
corporations. Another would be taking steps to increasing their tax take.
So far as the state and nation is affected, it has, in all political, social, and technological aspects, been
kicked up a notch. This in which, is most evident in the independence/interdependence of states,
addressing of threats such as terrorism, and the continuous innovation of technology across the globe.
Furthermore, for developing countries, the entry of large scale investors within a nation, leads to the
cultivation of commerce and industry positively affecting the pace in which competition is set, making
the economic setup more advantageous for a broader amount of people. It only gets better knowing
there is access to foreign culture such as listening to K-pop music & streaming Bollywood films.

Having that said, globalization will most likely remain relevant for the next couple decades. Globalization
is a process that has revolutionized newer industrial systems, boosted global economic activity, and is in
its entirety, etched within our civilization as a crucial part of the subsequent evolution of humanity. In
line with this, I’d like to quote Bill Clinton, "Globalization is not something we can hold off or turn off... It
is the economic equivalent of a force of nature - like wind or water." - Now although this is true, as
strong as a force that globalization may be, it is by no means uncontrollable. May humanity strive for a
more impartial and generally favorable version of globalization as we further progress in the years to
come.
REFERENCES:

Plunkett S. Page 1. (2016, July 18). The surprising solution to inequality: economic common sense.
WeForumOrg. https://www.weforum.org/agenda/2016/07/more-inclusive-growth-is-needed-to-reap-
the-benefits-of-globalization/

Lutkevich B. Page 2. (2021 July). Why is globalization important. Tech Target.

https://www.techtarget.com/searchcio/definition/globalization#:~:text=Why%20is%20globalization
%20important%3F,natural%20resources%20and%20labor%20markets.

Globalization boosts economic growth but risks widening social inequality. (1999, November 19).
International Labour Organization.
http://ilo.org/global/about-the-ilo/newsroom/news/WCMS_007960/lang--en/index.htm

Globalization and Inequality. (2018, May 1). Tutor2U.

https://www.tutor2u.net/economics/reference/globalisation-and-inequality-revision-essay-plan

Buchanan S. (2012, November 24). Page 1. Has Globalisation Altered the Role of the State?
https://www.e-ir.info/2012/11/24/has-globalisation-altered-the-role-of-states/

Globalization Benefits and Challenges. (2020, March 30). Velocity Global.

https://velocityglobal.com/blog/globalization-benefits-and-challenges/

(Note: Some websites did not contain the necessary information for proper citation, hence the
inconsistent APA format)