Danica Joy E.

Gardiola
BSA1 G1

“My Perspectives on Globalization”

“Globalization”, whenever we hear this word, what

are the first word that comes up on our mind? Is it “globe”,
“global”, “everyone”, “trade market”, “organizations” or to
be specific, anything that the world “global” is involved.
But do we wonder what globalization actually is? How did
it developed? Who made or invented the globalization?
How is it suppose to help us and what are the pros and
cons of it? And now, we are tackling about it.
According to Ben Lutkevich, Technical Features
Writer at Techtarget, Globalization is the process by which
ideas, knowledge, information, goods and services
spread around the world. In business, the term is used in
an economic context to describe integrated economies
marked by free trade, the free flow of capital among
countries and easy access to foreign resources, including
labor markets, to maximize returns and benefit for the
common good. Globalization, or globalisation as it is
known in some parts of the world, is driven by the
convergence of cultural and economic systems. This
convergence promotes -- and in some cases necessitates
-- increased interaction, integration and interdependence
among nations. The more countries and regions of the
world become intertwined politically, culturally and
economically, the more globalized the world becomes.
(https://www.techtarget.com/searchcio/definition/globalizat
ion).
But if you were to ask me, base on what I have been
learned, Globalization is a complex and multifaceted
concept that encompasses a wide range of economic,
social, cultural, and political processes. It refers to the
increasing interconnectedness and interdependence of
countries and people around the world. Globalization is a
term used to describe the increasing connectedness and
interdependence of world cultures and economies. The
concept of "globalization" refers to the growth in
connectivity and interdependence that trade and
technology have brought about on a global scale. The
ensuing societal and economic changes are also covered
by the definition of globalization. It can be pictured as the
lengths of an enormous spider web that has expanded
over many centuries. In the modern era, more people and
more things have traveled these silky strands than ever
before, and they have done so more quickly and in greater
quantities. Globalization has been a critical discourse in
the interational development policy arena. There is an
increasing number of books written about globalization
since the end of the 1980’s. Some of which are The
Economic Consequences of the Peace by John Maynard
Keynes; Manias, Panics, and Crashes: A History of
Financial Crises by Charles Kindleberger; Globalization
and Its Discontents by Joseph E Stiglitz; Why
Globalization Works by Martin Wolf; The Great
Convergence by Richard Baldwin.
Globalization is the term used to describe how
nations, economies, cultures, and communities are
interrelated and dependent on one another. It has many
advantageous impacts and has been a significant factor in
the modern world for many years. And here are some of
the benefits of globalization, one is increased economic
growth. Globalization has led to increased trade between
countries, which has boosted economic growth. Access to
larger markets means that businesses can expand their
operations and increase their revenue. By that, many
global companies are improving and growing because
they are helping each other whether it is on importing or
any transactions. Another benefit is you have an access to
larger consumer base, for businesses, globalization
means access to a larger customer base. This can lead to
increased sales and profits, which can benefit both
companies and their shareholders. Everyone benefits on
this. On this, you are going to be developed or you can
have an larger economy.
Globalization has brought about numerous benefits,
including increased economic growth, cultural exchange,
and access to a wider range of goods and services.
However, it also has its limitations and drawbacks.
The trend of growing interdependence and
interconnectedness of nations and people worldwide,
known as globalization, has had both favorable and
unfavorable effects on social and economic growth. But
first, we have to tackle the social development first. On
social developments, there are a lot of it but I’ve only
garnered 5 example for it. The first one being cultural
exchange. When we say the word “cultural”, the first thing
that would come up on our mind are culture and traditions
something like that. On globalization, it promoted cross-
cultural, intellectual, and ethical exchange. Greater
cultural diversity and understanding result from the ease
with which people from different parts of the world may
communicate and learn from one another. Second is
access to information. To this day, it is vital not only for us
students, but also for everyone to have access at any
latest or newer information to inform and educate them on
what are the hot topic and the latest news to this day, and
also for them to be able to share it to others for extra
information. Information is now easier to access than ever
because to the globalization that has fueled the digital
age. Individuals now have the power to educate
themselves, keep up with current events on a global scale,
and participate in educated debates about social issues.
Third is improvement of health care. Nowadays, there are
a lot of diseases that are still roaming at our environment.
One of which are COVID, although it may be already
done, there are still a variant that have not been taking for
yet. But through globalization, a lot of countries had
worked together to stop the virus infiltrating our peaceful
life and it somehow worked. On conclusion, it is the
sharing of medical information and technologies made
possible by globalization has improved healthcare
systems and boosted access to drugs and vaccines,
particularly in developing nations. Fourth is lower poverty
rates. Poverty are often the cause of evil doings here at
our world. Because everything now revolves on money
itself, if you have no money, you’re worthless and nothing
that is why a lot of non-privileged people are commited or
forced doing crimes and wrong doings in order to survive
at our unfair world were only the rich and privileged
person could only reach the pinnacle of life while those
who are less fortunate rot at the bottom. But to be specific
on our topic, Globalization has contributed to economic
growth in many developing countries, resulting in
decreased poverty rates. As more nations participate in
the global economy, opportunities for economic
development increase. And the last one is the human
rights advocacy. Us humans, rich or poor, with a dissability
or without, normal or abnormal, genius or dumb and boy
or a girl, we deserve our rights in order to equalize
everything. In globalization, the global interconnectedness
brought about by globalization has made it easier for
advocacy groups and individuals to raise awareness about
human rights abuses, leading to increased global pressure
on governments and organizations to uphold human rights
standards.
After tackling about globalization’s contributions, it is
now time to talk about its limitations. Globalization also
has it’s drawbacks. But here we are able to tackle some of
it in order to understand globalization better. The first one
is Income Inequality. One of the most significant limitations
of globalization is its contribution to income inequality,
both within and between countries. While some individuals
and regions benefit greatly from globalization, others are
left behind. Low-skilled workers in developed countries
often face job displacement and stagnant wages due to
competition from lower-cost labor markets in developing
countries. For example Multinational firms. It frequently
outsource production to nations with lower labor costs. For
workers in industrialized countries, this could result in job
losses and stagnating pay. Contrarily, employees in
emerging nations may have more employment
opportunities, but sometimes at a lesser wage. Second is
Financial Instability. Being financially stable is what we’re
fighting for that’s why we don’t stop pursuing education or
or finding ways to earn money morally, some may disobey
law in order to do it but everything now revolves on
money. Globalization of financial markets can lead to
financial crises that affect countries far beyond their origin.
For example, The 2008 financial crisis had its roots in the
United States, particularly in the housing market. During
the early 2000s, there was a housing bubble in the U.S.,
driven by factors such as easy access to mortgages, low-
interest rates, and speculative investments in real estate.
Third one is Security Concerns. The increase of global
connectivity can also lead to security concerns, such as
the rapid spread of diseases, cyberattacks, and the
movement of illicit goods and activities across borders. For
instance, hackers can target crucial infrastructure in
another nation and can come from anywhere in the world.
As evidenced by the quick development of COVID-19, the
movement of people and things across borders can also
aid in the spread of infectious illnesses. The Fourth is
Resource Depletion. Resource depletion is the global
competition for resources that can lead to overexploitation
and depletion of essential resources, such as water,
energy, and minerals. This phenomenon is driven by
increased international trade, industrialization, and the
pursuit of economic growth. An example for this is the
demand for rare earth minerals used in electronics
manufacturing has led to environmental degradation and
resource depletion in countries like China. And lastly is the
Social and Political Backlash. Globalization has led to
social and political backlash in many parts of the world.
This can manifest in the form of protectionism,
nationalism, and anti-globalization sentiments. Populist
movements have gained traction in some countries in
response to perceived negative effects of globalization.
For example, Rodrigo Duterte, who assumed the
presidency in 2016, is often seen as a populist leader who
campaigned against traditional political elites and
advocated for a more assertive stance on certain aspects
of globalization.
In summary, globalization is a complex phenomena
that unquestionably reshaped our world in significant
ways. Globalization, in my opinion, is a complicated force
that can bring about both advantages and difficulties; it is
neither wholly positive nor intrinsically negative. It has
broadened our horizons, introduced us to various cultures,
and made it easier for ideas and possibilities to flow.
However, it has also sparked worries about environmental
sustainability, cultural uniformity, and inequity. It is vital
that we take a balanced approach as we travel the route
of globalization—one that recognizes its promise for
advancement while tackling its drawbacks. We can
influence a globalized world that more accurately reflects
our shared values of inclusivity, prosperity, and
environmental stewardship by promoting international
collaboration, fighting for fair trade and labor standards,
and supporting sustainable development. By doing this,
we can cooperate to make sure that globalization benefits
everyone in our global community, not just a select few.