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    Globalization - Reflection Paper

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    Jaycel Bayron
    Globalization has positively impacted international trade and cultural exchange, but also has some undesirable effects. It has lowered trade barriers, allowing freer exchange of goods, services, and ideas between countries. This expanded global market has benefited multinational businesses and expanded economic opportunities. However, globalization has also contributed to job losses as work is outsourced to lower-cost countries, and inequality has risen as wealthier nations benefit more than poorer ones. Sustainable policies are needed to ensure the benefits of globalization are shared more equitably worldwide.

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    Globalization - Reflection Paper

    Uploaded by

    Jaycel Bayron
    9K views2 pages
    Globalization has positively impacted international trade and cultural exchange, but also has some undesirable effects. It has lowered trade barriers, allowing freer exchange of goods, services, and ideas between countries. This expanded global market has benefited multinational businesses and expanded economic opportunities. However, globalization has also contributed to job losses as work is outsourced to lower-cost countries, and inequality has risen as wealthier nations benefit more than poorer ones. Sustainable policies are needed to ensure the benefits of globalization are shared more equitably worldwide.

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    GLOBALIZATION- REFLECTION PAPER

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    Globalization has positively impacted international trade and cultural exchange, but also has some undesirable effects. It has lowered trade barriers, allowing freer exchange of goods, services, and ideas between countries. This expanded global market has benefited multinational businesses and expanded economic opportunities. However, globalization has also contributed to job losses as work is outsourced to lower-cost countries, and inequality has risen as wealthier nations benefit more than poorer ones. Sustainable policies are needed to ensure the benefits of globalization are shared more equitably worldwide.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    9K views2 pages

    Globalization - Reflection Paper

    Uploaded by

    Jaycel Bayron
    Globalization has positively impacted international trade and cultural exchange, but also has some undesirable effects. It has lowered trade barriers, allowing freer exchange of goods, services, and ideas between countries. This expanded global market has benefited multinational businesses and expanded economic opportunities. However, globalization has also contributed to job losses as work is outsourced to lower-cost countries, and inequality has risen as wealthier nations benefit more than poorer ones. Sustainable policies are needed to ensure the benefits of globalization are shared more equitably worldwide.

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    of 2

    Jaycel P.

    Bayron 3 BS in Accountancy A

    A REFLECTION ON GLOBALIZATION

    In the 21st Century, the emergence of rapid technological advancement of the society has greatly
    affected the global economic system, such as globalization. Globalization is a global phenomenon
    wherein cross-border countries trade goods, services, technology, and as well as information. However, it
    does not limit to trading, it includes to a more connected relationship of countries who aim to achieve a
    greater competitive status. After a thorough understanding and evaluation of the topic it has come to mind
    that globalization is one of the best occurrences that has happened to further and help people in attaining
    connectedness and greater good, however, some effects of globalization on developing nations are
    undesirable.

    It is in the human mind that historically speaking, people were having a hard time in terms of
    buying and selling items that are of great importance, yet through globalization there is a fall of trade
    barrier which allows the society to exchange freely and easily. Such as when import and export took
    place, many countries including the Philippines participate in this global exchange. This is a good
    advantage since market will flow faster resulting to a hike in income to all those who participate in trade.
    Taking into a positive cause the time that will be saved, plus the opportunities that awaits across
    countries.

    Opportunities such as learning different norms and cultures are the positive results of
    interdependent world economy. Taking into life the experiences of most teenagers who are now K-POP
    fans, some of them started knowing Koreans from products which were imported in the Philippines. In a
    matter of time, they adapted and learnt their cultures which made them fans.

    Businesses also took advantage on the emergence of globalization. Most companies enjoy the
    benefit of a lowered overall cost structure since they can save from labor, energy, and capital. For me this
    is beneficial for all companies, since avoiding cost and appraising profit is what they do. More so, they
    can offer multiple products which means the more products they offer the wider the target market they
    could get.

    An established treaty to govern the global system has a significant impact for the entire economic
    industry. Being able to meet a certain ideology and upbring understanding amongst countries play an
    important role in achieving organized system to avoid havocs. Given the diverse cultures and beliefs it is
    important to meet an understanding and these treaties implemented are a fantastic way to mitigate
    misunderstanding and promote synchronization.

    In addition, as years pass, population became huge, and this signifies a greater number of
    demand and globalization is a perfect way to address this issue. Globalization can help mitigate demand-
    supply problems, since it allows countries to develop numerous output that would be traded to different
    places to provide the needed supplies demanded by the market. In addition, production of larger output
    can help build up a country’s GDP which is a great edge to survive in a competing environment.

    On the other hand, some presented disadvantages on the existence of globalization. The
    factuality of losing jobs and the degradation of environment is true. With globalization, everything is done
    in a snap, if things are in demand, we then go to countries which has the largest and cheapest prices, we
    try to import. Due to this, we do not allow the opening and operating of our own which in return not giving
    opportunities to people on our own country to have the jobs they needed.

    Lastly, one of the perceived disadvantages of globalization for me is the rich becomes richer and
    the poor becomes poorer. First world countries are the ones who benefit the most in this world trade,
    dragging down the third world countries. Just as developed countries employ workers from developing
    countries which causes a loss of skills that could be useful to the country. Taking into account that many
    OFWs are working to these first world countries who are actually skilled and talented, which is truly a loss
    on our part.

    Above all, the journey of globalization is still long, it will still pass many decades that would result
    to significant changes in the future. The tables could still turn, whether achieving an equal benefit for all
    countries or the theory of the parable of the talents would continue for the coming years.

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