Jeff Agas - Activity #1 Contemporary World

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The premier university in Cavite State University shall provide

excellent, equitable and relevant
historic Cavite recognized Republic of the Philippines educational opportunities in the arts,
for excellence in the
development of globally CAVITE STATE UNIVERSITY science and technology through quality
instruction and relevant research and
competitive and morally Silang Campus development activities.
upright individuals. Silang, Cavite It shall produce professional, skilled,
and morally upright individuals for global
competitiveness.
DEPARTMENT OF ARTS AND SCIENCES
CONTEMPORARY WORLD
ACTIVITY #1
DEFINITIONS AND ASPECTS OF GLOBALIZATION
NAME: Jeff R. Agas COURSE/SECTION: BSBM, 1B

DATE: October 4, 2022 SIGNATURE:____________________
I. DEFINITION (2 points each): Define the following terms:

1. Globalization; term used to describe how trade and technology have
made the world into a more connected and interdependent place.
2. Migration; the movement of people over some distance (or at least from
one "migration-defining. area" to another) and from one "usual place of
residence" to another.
3. Refugee; persons who are outside their country of origin for reasons of
feared persecution, conflict, generalized violence, or other circumstances
that have seriously disturbed public order and, as a result, require
international protection.
4. Trade Liberalization; the removal or reduction of restrictions or barriers
on the free exchange of goods between nations.
5. Deregulation; the removal of regulations or restrictions, especially in a
particular industry.
6. Privatization; the transfer of a business, industry, or service from public
to private ownership and control.
7. Neoliberalism; contemporarily used to refer to market-oriented reform
policies such as "eliminating price controls, deregulating capital markets,
lowering trade barriers" and reducing, especially through privatization and
austerity, state influence in the economy.
8. Cultural relativism; not judging a culture to our own standards of what is
right or wrong, strange or normal.
9. Economic globalization; refers to the increasing interdependence of
world economies as a result of the growing scale of cross-border trade of
commodities and services, flow of international capital and wide and rapid
spread of technologies.
competitiveness.
10. 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.
II. ESSAY(3 points each). Briefly answer the following:

1. One of the causes of globalization is trade liberalization. What could be its
effect to our economy and primary industries? Will it be good and helpful
or otherwise?
Answer. Trade liberalization promotes free trade, which allows countries
to trade goods without regulatory barriers or their associated costs. This
reduced regulation decreases costs for countries that trade with other
nations and may, ultimately, result in lower consumer prices because
imports are subject to lower fees and competition is likely to increase.
It will help increase competition from abroad as a result of trade

liberalization creates an incentive for greater efficiency and cheaper
production by domestic firms. This competition might also spur a country
to shift resources to industries in which it may have a competitive
advantage.
But otherwise trade liberalization can negatively affect certain businesses

within a nation because of greater competition from foreign producers and
may result in less local support for those industries. There may also be a
financial and social risk if products or raw materials come from countries
with lower environmental standards.
https://www.investopedia.com/terms/t/trade-liberalization.asp
2. Cite at least one impact of Globalization in each of the following:

a. Economic Impact
b. Political Impact
c. Social(or Cultural) Impact
Answer. Globalization provides businesses with a competitive advantage
by allowing them to source raw materials where they are inexpensive.
Globalization also gives organizations the opportunity to take advantage of
lower labor costs in developing countries, while leveraging the technical
expertise and experience of more developed economies.
competitiveness.
With globalization, different parts of a product may be made in different

regions of the world. Globalization has long been used by the automotive
industry, for instance, where different parts of a car may be manufactured
in different countries. Businesses in several different countries may be
involved in producing even seemingly simple products such as cotton T-
shirts.
Globalization affects services too. Many businesses located in the United

States have outsourced their call centers or information technology
services to companies.
https://education.nationalgeographic.org/resource/effects-economic-
globalization
3. Covid-19 pandemic is a global problem. How does Globalization (in all

aspect) works for the world nations to scientifically address the health
problem?
Answer. The effects of globalization were operationalized in terms of
mobility, economy, and healthcare systems. The mobility of individuals
and its magnitude was assessed using airline and seaport trade data and
travel information. The economic impact was measured based on the
workforce, event cancellations, food and agriculture, academic institutions,
and supply chain. The healthcare capacity was assessed by considering
healthcare system indicators and preparedness of countries.
https://www.sciencedirect.com/science/article/pii/S2352771420302810
4. What are the advantages and disadvantages of privatization of
government services?
Answer. Advantages of privatization of government services is no political
influence, enhanced productivity, risk-shaking with government. The
disadvantages of it are less transparent, higher cost to consumers, and
establishing a monopoly.
https://www.wallstreetmojo.com/privatization/#advantages-disadvantages
5. In the Philippine context, give at least one industry(light or heavy) that had
been privatized in the past. Cite at least 3 effects that existed after its
privatization.
Answer. Maynilad expanded access, but unable to reduce water losses it
stopped paying concession fees to the government and went bankrupt in
2003. It was temporarily taken over by the government, sold to new
competitiveness.
investors in 2007 and performance has improved since. Manila Water

struggled initially, but increased its contractual rate of return by arbitration
in 1998, improved performance, and in 2003 the International Finance
Corporation (IFC) provided a loan and took an equity stake in the
company, followed by an initial public offering (IPO) of shares on the
Manila stock exchange in 2004 and local currency bond sales in 2008.
Neither company achieved its contractual targets of increased access.

Improvements in access and service quality were slow during the first
years, especially in West Manila. Progress in water sanitation has been far
below the contractual targets of access to sewerage from less than 10
percent to 66 percent in West Manila and 55 percent in East Manila until
2021 https://en.wikipedia.org/wiki/Water_privatization_in_Metro_Manila
III. REFLECTION(10 Points):

Is Globalization harmful to our present economy and society?
Answer. Globalization has had a negative impact on the world economy.
Since colonization countries have been experiencing uneven development,
exploitation that prohibits the expansion of their economy, and trade wars as
a result of capitalism and cheap labor overseas. While globalization can be
seen as a good thing, in reality globalization has economically put core
countries over developing countries and is not allowing these countries to
develop. Even though globalization and colonization occurred almost a
hundred years ago, the negative economic effects can still be felt in
underdeveloped countries. While India and Brazil are working to fix their
economies after colonization they still have a long way to go before they will
be considered economically developed.

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CvSU Vision CvSU Mission

The premier university in Cavite State University shall provide

DEPARTMENT OF ARTS AND SCIENCES

DEFINITIONS AND ASPECTS OF GLOBALIZATION

NAME: Jeff R. Agas COURSE/SECTION: BSBM, 1B

I. DEFINITION (2 points each): Define the following terms:

DEPARTMENT OF ARTS AND SCIENCES

10. Political globalization; the development and growing influence of

II. ESSAY(3 points each). Briefly answer the following:

It will help increase competition from abroad as a result of trade

But otherwise trade liberalization can negatively affect certain businesses

2. Cite at least one impact of Globalization in each of the following:

DEPARTMENT OF ARTS AND SCIENCES

With globalization, different parts of a product may be made in different

Globalization affects services too. Many businesses located in the United

3. Covid-19 pandemic is a global problem. How does Globalization (in all

DEPARTMENT OF ARTS AND SCIENCES

investors in 2007 and performance has improved since. Manila Water

Neither company achieved its contractual targets of increased access.

III. REFLECTION(10 Points):

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