Topic 1 Introduction to Globalization PDF

 CHALLENGES OF KEY ASPECTS OF GLOBALIZED GLOBALIZATION CONTEXT UNDERSTANDING THE ROLE OF GLOBALIZATION TECHNOLOGY IN...

 CHALLENGES OF KEY ASPECTS OF GLOBALIZED GLOBALIZATION CONTEXT UNDERSTANDING THE ROLE OF GLOBALIZATION TECHNOLOGY IN ACCELERATING GLOBALIZATION  UNDERSTANDING GLOBALIZATION Globalization is the process by which the world's economies, cultures, and populations become increasingly interconnected. This phenomenon is driven by trade, technology, and the movement of people and investments across borders. Over centuries, nations have formed economic partnerships to facilitate these exchanges, creating a complex global network. The convergence of cultural and economic systems fosters greater interaction and integration, making countries more interdependent. However, this interconnection also brings challenges that demand careful management, as the implications of globalization shape our world in profound ways. UNDERSTANDING GLOBALIZATION CULTURAL GLOBALIZATION GLOBALIZATION OF TRADITIONS DIGITAL GLOBALIZATION It also defined almost every aspect of our society’s growth over the past 100 years. We’ve got globalization to thank for the availability of everyday items like UNDERSTANDING GLOBALIZATION  UNDERSTANDING GLOBALIZATION Why is it important? Globalization changes how nations, businesses, and people interact by expanding trade and opening global supply chains, allowing access to resources and labor markets. It fosters cultural exchange and innovation. We explore all of these questions and more, covering everything from the history of globalization to the anti-globalization movement. By the end of this article, you’ll know exactly how globalization is influencing the world around us and why learning about globalization is vital for anyone engaging with the modern world of business, culture, finance, politics, and economics. UNDERSTANDING GLOBALIZATION HISTORICAL CONTEXT Although many people consider globalization a twentieth-century phenomenon, the process has been happening for millennia. 1. The Roman Empire. Going back to 600 B.C., the Roman Empire spread its economic and governing systems through significant portions of the ancient world for centuries. 2. Silk Road trade. These trade routes, which date from 130 B.C. to 1453 A.D., represented another wave of globalization. They brought merchants, goods and travelers from China, through Central Asia and the Middle East, to Europe. UNDERSTANDING GLOBALIZATION HISTORICAL CONTEXT 3. Pre-World War I. European countries made significant investments overseas in the decades before World War I. The period from 1870 to 1914 is called the golden age of globalization. 4. Post-World War II. The United States led the effort to create a global economic system with a set of broadly accepted international rules. Multinational institutions were established such as the United Nations, International Monetary Fund, World Bank and World Trade Organization to promote international cooperation and free trade.  UNDERSTANDING GLOBALIZATION WHAT IS G20? The G20, or Group of Twenty, is an international forum established in 1999 to promote cooperation on global economic issues, such as financial stability and climate change. Comprising 19 countries and the European Union, it represents 80% of the world’s population, 75% of global exports, and 85% of world GDP. The G20 holds annual summits with heads of state to discuss pressing topics. UNDERSTANDING DIMENSIONS OF GLOBALIZATION ECONOMIC POLITICAL CULTURAL ECOLOGICAL These dimensions are interconnected and influence each other. For instance, economic globalization can drive cultural globalization through the spread of consumer products and media, while political globalization can influence environmental policies and regulations. BENEFITS OF GLOBALIZATION 1. Solving economic problems - Globalization moves jobs and capital to places that need these resources. 2. Promoting free trade - Globalization puts pressure on nations to reduce tariffs, subsidies, and other barriers to free trade. 3. Spurring economic development - Globalization can give developing countries access to foreign capital and technology they wouldn't otherwise have, thus bridging the digital divide.  BENEFITS OF GLOBALIZATION 4. Encouraging positive trends in human rights and the environment - This advocates of globalization point to improved attention to human rights on a global scale and a shared understanding of the impact of people and production on the environment. 5. Promoting shared cultural understanding - Advocates view the increased ability to travel and experience new cultures as a positive part of globalization that can contribute to international cooperation and peace.  GLOBAL ECONOMY The Global economy is a good example of economic impact all over the world a rises for having a modern globalization such as technology or other factors of a global economy. According to the latest economic news, here are some of the key factors that influence and affect how well the global economy works: Natural resources Infrastructure Population Labour Human capital Technology Law KEY ASPECTS OF GLOBALIZATION ECONOMIC CULTURAL POLITICAL ECONOMIC GLOBALIZATION Economic Globalization - is the increasing interdependence of the national economy through cross- border trades, investments, and capital flow. This phenomenon is driven by technology, communication, and international policies and treaties. As borders become more permeable, the world's economies become more integrated. Pros boost global economic growth consumers get access to diverse products and services local businesses get access to international consumers. Cons widens wealth inequality causes cultural homogenization can harm domestic industries. CULTURAL GLOBALIZATION Cultural Globalization - is the spread of the culture, customs, or ideas of a place or people to the rest of the world. Pros Standardization of Time and space Catalyst for positive social change Economic Growth Broadening the human perspective Cons Example: Erosion of Local cultures Spread of Fashion Widening of inequalities Spread of Political Ideologies Ecological Impact spread of foods and dishes POLITICAL GLOBALIZATION Political Globalization - refers to the process by which political decisions and activities are internationalized, leading to a diminishing role of national borders and a rise in global governance structures. ‘The political dimension of globalization’ raises political issues relating to state sovereignty and the question of whether the nation-state will survive globalization. Example: United Nations (UN) Association of South East Asian Nations (ASEAN) North Atlantic Treaty Organization (NATO) World Trade Organization (WTO) POSITIVE ASPECTS OF GLOBALIZATION The more money in developing nations, the larger portion of those people may not only survive but also work their way up to a standard of living. 1. Global competition encourages creativity and innovation and keeps prices for commodities/services in check. 2. Developing countries can reap the benefits of current technology without undergoing many of the growing pains associated with the development of these technologies. 3. Governments are able to better work together towards common goals now that there is an advantage in cooperation, an improved ability to interact and coordinate, and a global awareness of issues. There is greater access to foreign culture in the form of movies, music, food, clothing, and more. In short, the world has more choices. NEGATIVE ASPECTS OF GLOBALIZATION Many proponents view globalization as a way to solve systemic problems in the world economy, but critics see it as increasing global income inequality. Among the critiques of globalization are the following issues: 1. Destabilizes markets. Critics of globalization blame the elimination of trade barriers and the freer movement of people for undermining national policies and local cultures. 2. Damages the environment. The transport of goods and people among nations generates greenhouse gases and all the negative effects it has on the environment. Global travel and trade also can introduce, sometimes inadvertently, invasive species to foreign ecosystems 3. Lowers living standards. When companies move operations overseas to minimize costs, such moves can eliminate jobs, increasing unemployment in sectors of the home country. NEGATIVE ASPECTS OF GLOBALIZATION 4. Facilitates global recessions. Tightly integrated global markets carry a greater risk of global recessions. Globalization reduces the ability of individual nations to use monetary and fiscal policies to control the national economy. 5. Damages cultural identities. Critics of globalization decry the decimation of unique cultural identities and languages that comes with the international movement of businesses and people. At the same time, the internet and social media are driving this trend even without the movement of people and commerce. 6. Increases the likelihood of pandemics. Increased travel has the potential to increase the risk of pandemics. The H1N1 swine flu outbreak of 2009 and coronavirus in 2020 and 2021 are two examples of serious diseases that spread to multiple nations quickly.  THE ROLE OF TECHNOLOGY IN ACCELERATING GLOBALIZATION The Internet significantly impacts globalization by enhancing communication, facilitating e- commerce, and increasing access to information. However, it also slows the process through issues like the digital divide, cybersecurity threats, disinformation, and job displacement in some sectors. Overall, the Internet plays a dual role, both accelerating and hindering globalization, underscoring its complex influence on global interconnectedness. THE ROLE OF TECHNOLOGY IN ACCELERATING GLOBALIZATION How has technology accelerated globalization? ICT and mobile communication advances have lowered the costs of global communications and contributed to time-space compression. Time-space compression allows the relative distances between places to feel far shorter. THE ROLE OF TECHNOLOGY IN ACCELERATING GLOBALIZATION Technology helps globalization by speeding up communication, improving international trade, and simplifying logistics, which reduces the impact of distance on business. Innovations like the internet and online shopping allow companies to reach global customers, while better transportation makes it easier to move goods across borders. These technological advancements and private efforts have greatly enhanced global connections beyond just government policies. COMMUNICATION TOOLS IN A GLOBALIZED CONTEXT In a globalized context, people interact more frequently as the increasing connections and interdependence of world cultures and economies facilitate greater contact across borders. Examples of Communication Tools: 1. Internet Social Media Platforms - Facebook, Twitter, Instagram, Messenger, Zoom, Google Meet 2. Global Media - Netflix, Spotify, YouTube 4. News Network - CNN, BBC 5. Telecommunication - Mobile Phones and Smartphones, Telephones IMPACTS OF COMMUNICATION IN A GLOBALIZED CONTEXT 1. Enhanced Collaboration of Business, organization, the works of a project, sharing knowledge 2. Increase trade and investment, such as exporting products like coffee and sugar. Crops, steel, oil, and Tariffs. 3. Cultural Exchange because of connecting people with different backgrounds, norms, cultures,s and dialogue. 4. Global Awareness, information about global issues, participation in online discussion, advocate change. CHALLENGES OF GLOBALIZED CONTEXT 1. Misinformation - false or inaccurate information spread without intent to deceive. It can be shared unknowingly and contributes to public misunderstanding, especially through social media and news. 2. Privacy Concern - involves fears about how personal data is collected, stored, and used by organizations or governments, especially with the rise of digital platforms, raising issues around data misuse and surveillance. 3. Digital Divide - The digital divide refers to the gap between those with access to modern technology (like the internet) and those without, often based on socioeconomic factors, affecting participation in digital opportunities. Prepared by: Group 1 (24190) 1. Abregana, Von Kirby 2. Camiguing, Mikhel 3. Collyer, Faye 4. Felisco, Gabrielle Raziel Jordan 5. Gumamay, Gleza 6. Navasca, Kyle 7. Piape, John Rando 8. Sagarino, Clintjustine 9. Tortillas, Reybert V.