MORALLO, DAWN SUZANE R.

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ACTIVITY/ASSIGNMENT NO.1
Directions: Write your personal understanding about globalization
based on a concept map given above. (Minimum 100 words)

Globalization: Developing influences to the World Scale

Connecting the ties between one country to another is considered

one basic product of globalizing a certain thing—economy,
communication and developing industries. Through globalization,
people’s way of living, welfare were improved as it provides greater
access and opportunities in all fields such as education, health,
politics and commerce.
Technology is one of the major products of globalization; it is
constantly innovating up to this day. Imagine, from Abacus to
MacBooks. It leverages the people’s way of living towards to become
more comfortable, less complicated and time- bound.
On the other hand, globalization tends to utilize, spend and use
finite resources especially non-renewable materials such as natural
oil, minerals and even trees. The more we exhaust materials to create
technology, it degrades the quality of our environment.
MORALLO, DAWN SUZANE R.
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ACTIVITY/ASSIGNMENT NO.2
Directions: Watch a news about globalization concerning the economy
today. State your understanding and explain.

China's Bitcoin Crackdown

China has expanded its crackdown on cryptocurrencies by declaring

that all activities related to digital coins are illegal. The People’s
Bank of China and other government agencies targeted overseas
cryptocurrency exchanges specifically on Friday (September 23,2021),
they've declared that it was illegal for them to provide online
services to residents in China. The action was an apparent bid to
close a loophole that remained after the PBoC, China’s central bank,
where in May they banned domestic financial institutions from
providing cryptocurrency transaction services.
Nevertheless, this is not the first time that China has banned
cryptocurrency transaction in their country. As I've read some
articles, expert’s said that it is a strategy to make the crypto price
affordable to the market. And, it will greatly affect the scale of
trading and mining of digital coins in the global market.
MORALLO, DAWN SUZANE R.
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ACTIVITY/ASSIGNMENT NO.3
Directions: Read the presented news article from
https://www.bbc.com/news/business-53733440. What is your understanding
about the article? Write your answer on the space provided.

ANSWER:

This pandemic brought challenges around the world. All nations

are all affected, even the "first world countries" like the UK.
Unemployment rate climbed the curve due to the lockdowns and shutting
down of the commercial industries. Imagine if the big countries are
high affected of high unemployment rates, how about the sick countries
like Philippines?
The UK government works their economy slowly but with precision
to illuminate the unemployment and others crisis especially to this
crisis. If we will compare our situation to the other countries, our
nation is far enough to rise up the bar. Our government must focus on
a strategic, precise, comprehensive and competent way to cope our
economic situation. The article tackles the big role of the economy to
our daily lives. We can also achieve what the big countries have, our
nation just need to be a “people first” country.
MORALLO, DAWN SUZANE R.
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ACTIVITY/ASSIGNMENT NO.4

DIRECTIONS: Watch the Documentary Film- History of Economic

Globalization and make your reflection paper. Minimum of 300 words.

DOCUMENTARY ON THE HISTORY OF ECONOMIC GLOBALIZATION

MORALLO, DAWN SUZANE R.
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MIDTERM A.1-ESSAY

How do we make Globalization more just? 

Connecting the ties between one country to another is considered

one basic product of globalizing a certain thing—economy,
communication and developing industries. Through globalization,
people’s way of living, welfare were improved as it provides greater
access and opportunities in all fields such as education, health,
politics and commerce.  
Globalization is not new for centuries societies have traded goods
services skills and ideas in order to generate wealth and prosperity
over the past three decades. The effects of globalization have
intensified both influenced by and allowing the emergence of high
growth economies as major players digitalization and the further
financialization of our advanced economies. Globalization has
generated many benefits for society 1 billion fewer people live in
extreme poverty than 25 years ago, consumers can access more goods at
lower prices than ever before new technologies and digital platforms
have facilitated social and cultural interactions and given people
access to new types of services. 
Worsen the situation of a whole country and the so-called middle-
income people dignity has been collapsed. There are more concern
that with the new wave of globalization like artificial intelligence
and automation, this technological advancement may bring more
inequality in the future. 
When you look at the international level, you will see the gaps
between the emerging countries like China and India and also the
developed nations has reduced. But, when you look at the
other countries they are left out of this trend. Countless of people
are still suffering the economic hardship.  
Fundamental challenge of globalization is that, it creates
opportunity for nations most competitive citizens and it’s most
competitive companies. But it creates competitions for nations least
competitive citizens and least competitive companies.  
There are lots of challenges in globalization to the world scale
revolving in different sectors. 
The first one, on inequality, there had been increasing before the
crisis. Globalization often arrives with an unpleasant side effect
increasing inequality people lose jobs through outsourcing and the
increased migration of foreign workers. It also increases the roster
of competitive companies and when they Duke it out only the strongest
companies with the best technology survive. As a result, the
world’s wealth increasingly concentrates at the top. This problem of
inequality is real movements like Occupy Wall Street and fighting
inequality alliance express frustration and strategize solutions.They
argue that a  large secure middle class is the backbone of a strong
and growing but others argue that a rising tide lifts  all boats and
that people are more likely to ignore these inequality’s, If they can
see their own incomes  rising. However, evidence suggests that over
all the tide is no longer lifting all boats in advanced economies like
the United states, Western Europe, and Japan, a general increase in
wealth among the middle class is becoming less common in the 25 of the
world’s most advanced economies. A big issue 
that we said and we continue to say that globalization is good for
all but it does not benefit all. The challenge is to make it work
everywhere. 
Second, which will spend a bit more time, is actually the rules of
the game, and with this, we have a lot of changes. Distort the rules
of the game, the dark economy including tax avoidance organized crime
and the financing of terrorism corruption and illicit financial flows
destroys confidence in the global system. Citizens in many countries
are understandably worried about the impact these changes will have
on their future as they are already having an impact on their present
to address. 
The McKinsey global institute found that almost 70% of households
have experienced flat or falling incomes in the last decade. This is
quite a change from the 1950s through the 90s when most children could
expect to make higher incomes than their parents. Many of those, who
sensed this lack of progress and opportunity for their children have
turned their frustration on the very idea of globalization and
expressed negative opinions about free trade and open immigration
policies sensitive to these negative voter opinions. Politicians turn
inward to help ensure jobs, don’t leave the country, they lock down
borders, decrease the number of work visas and punish companies for
not using local labor. Unfortunately, this solution only makes things
worse. History has repeatedly shown that protectionism leads to slower
overall growth and decreases the competitiveness of nations engaged in
such policies. For example, the Smoot Hawley tariff of 1930 increased
tariffs on foreign goods from less than 20% to nearly 60%, the tariffs
worked imports to the United states fell by over 60% buying
foreign products became too expensive so people had to buy American.
This seemed like a great idea at first but in retaliation other
countries raised their own tariffs as well and a global trade war
began. The world dropped 14% and the trade wars worsened an already
depressed global economy. 
 These sentiments and actions sound hauntingly familiar today.
So, rather than follow the same path of blocking trade and banning
immigration there by slowing growth advanced economies like US, might
be better served by finding ways to address the problem of extreme
wealth inequality and encourage reasonable sharing in the global
marketplace. 
To conclude, the real challenge of globalization, is to find
domestic complementary policies that the winners and the losers can
feel like they are on the same team and continue with it.
Governments and companies may focus on these initiatives; First, is to
revive growth through increased innovation.  Second, is to improve
transitions from education to employment. Lastly, is to adjust taxes
raising disposable incomes for low-and-middle income households. In
connection with, the new problems of today’s globalized digitalized
world is we need new solutions. We need a new social and economic
model that preserves globalizations, gains while harnessing the
promise of the fourth production revolution and tackling the root
causes of inequality. We need a stronger and more open label
system where government, regions, cities, citizens, business and
National organizations work together to deliver real results and
greater wellbeing for each and everyone.