1. Añasco, Crisnalyn S.
BSENT 1A
DIFFERENT MEANINGS OF GLOBALIZATION:
✓ A set of economic, social, technological, political and cultural structures and processes arising from the
changing character of the production, consumption and trade of goods and assets that comprise the base of the
international political economy.
- (UNESCO)
✓ Globalization - the growing integration of economies and societies around the world
- (World Bank)
✓ A process of interaction and integration among the people, companies, and governments of different nations,
a process driven by international trade and investment and aided by information technology. This process has
effects on the environment, on culture, on political systems, on economic development and prosperity, and on
human physical well-being in societies around the world.
- (Levin Institute)
✓ A process by which the people of the world are unified into a single society and function together. This process
is a combination of economic, technological, socio-cultural and political forces ... that is, integration of national
economies into the international economy through trade, foreign direct investment, capital flows, migration and
the spread of technology.
- (Wikipedia)
FACETS OF GLOBALIZATION:
✓ Economics
- Spread of free market capitalism
• Increase in Foreign Direct Investment
• Increase in capital flows (money movements)
- Corporations become transnational as markets open
• Has both positive and negative impacts
- Increase in international trade
• Access to more and cheaper goods and services
2. - Increase of wealth
• Globalization = economic growth (bigger pie)
• Distribution becomes key
✓ Culture
- The fear of "Americanization" or "Westernization”
• The more powerful economies and corporations end up having a greater influence on
the world scene.
- Most powerful economies and corporations are American/ Western
- Small businesses cannot compete
• Local business
• "mom and pop" business
• Spread of English through business and Western media
✓ Technology
- 2 keys of technology
• Brings down costs
• Changes the nature of production and distribution
• Allows for rapid proliferation of ideas, information, and money.
✓ Environment
- Since Industrial Revolution humans have been destroying the planet.
- Unsustainable model of the I.R. has not been addressed by free market capitalism.
• Natural resources turned into products.
• Energy: coal, oil, hydro electric.
✓ Political
- Who will govern the new world order?
• Business
• Transnational
3. • Corporations
• Investment
- Government
• Elected representatives
- Currently globalization is being led by the an alliance between government and business
• Business elite have had strong influence in government policies.
ARE YOU IN FAVOR OF A MORE GLOBALIZED WORLD? WHY?
Yes. I'm in favor of more globalization for our country because we have a high poverty rate, and we are
facing a pandemic for a long time, so as a Filipino citizen we need it caused we don't have a high level of
education on how to control/manage the cases of viruses and the proper way to implement the vaccines that's
why a lot of people experience hunger and suffering, especially in the lower class right now.
We will also be able to work in other countries.
