faroway-blog

[faroway-blog]

GLOBALIZATION: DRIVING FORCE FOR CHANGE

Globalization

 In waking up every day doing our daily activities, we use products and different things that are making our activities easy and comfortable in which some of it came from other countries. Like taking a bath and wearing clothes that are made in china, doing your skincare routine that is made from Korea, eating while watching television from Japan. How is this possible? To have products or other things to use that came from another side of the world? Well, it is because of globalization.

Globalization refers to the shift toward a more integrated and interdependent world economy. It also refers to the opening of local and nationalistic perspectives to a broader outlook of interconnection and the inter-dependent world with the free flow of capital, goods, and services across national frontiers.

Globalization has several facets which include:

Globalization of Market- refers to the merging of historically distinct and separate national markets into one huge global market.

Globalization of Production- refers to the sourcing of goods and sources from locations around the globe to take advantage of national differences in the use quality of production.

Globalization of Economy- refers to the development of trade systems within transnational such as corporations or NGOs.

Globalization of Culture- refers to the interpretation of cultures, as a consequence, means nations adopt principles, beliefs, and costumes of other cultures, losing their unique, globalized supra-culture.

Globalization has affected every aspect of our life and has both positive and negative effects. Globalization affected both standard of living and the quality of my life. My standard of living, it becomes more comfortable in terms of material goods and necessities. I can easily have the product even though it is on the other side of the world. I can easily access pieces of information that help keep me updated on the current issues and trends. In the quality of life, with globalization, it allows the country where I live to create more opportunities that are helpful in the development and improvement of living. Make the life of everyone comfortable.

 Main Drivers of Globalization

There are two main drivers of globalization:

The decline in barriers to the     free flow of goods, services, and capital.

- During World War 2 Nation-state erected formidable barriers to international trade and foreign direct investment. Make foreign investors who export goods and services in their country to pay a high tariff. The tariff aim was to protect domestics industries from foreign competition, because of this, it resulted in retaliatory trade policies, with countries progressively raising trade barriers against each other. By this behavior, it depressed world demand and contributed to the Great Depression in the 1930s. Learning from what happened in the past, advanced industrial relations removes the barrier to the free flow of goods, services, and capital between the nation. Allow firms to easily and comfortably export and import goods and services in other countries.

Technological Change

- The dramatic development in recent decades in communication, information processing, and transportation technologies.

Among the two main drivers of globalization, I can say that the Technological Change contributed more to the acceleration of globalization. The lowering of trade barriers made the globalization of markets and production a theoretical possibility. Technological change has made it a tangible reality. Since the end of World War II, the world has seen advances in communication, information, processing, and transportation technology, including the explosive emergence of the internet and the World Wide Web. Technological change in telecommunication is creating a global audience. Connecting around the world, allowing everyone to have access to what are the happenings, letting the audience know the latest issue, letting the audience aware of the history, or what is he/she wanted to know, getting to know the current trend, etc. Technological change in transportation is creating a global village. Allow everyone to be on the other side of the world or to the place they wanted to be. With the help of technological change, globalization is becoming more of a trend. It allows us to connect to everyone culturally, economically, etc.

  Global Economy 

 The global economy refers to the interconnected worldwide economic activities that take place between multiple countries. The reason why the global economy is in constant change is because of its compromise characteristics: Globalization, International Trade, International Finance, Global Investment. Aside from it, it is also because of the natural resources, infrastructure, population, labor, human capital, technology, and the law of a country. The global economy continuously changes because humans are not satisfied with what they currently have and due to never ending demand.

Changes in the global economy have a benefit that is both positive and negative. Due to changes and developments, it helps the world improving their quality and standard of living, an acceleration of economic changes has led to strong global economic growth, there is a rapid development of many technologies and commodities. The negative side of these changes is it affects the culture it became homogenous as countries are now can freely exchange goods and services, income inequalities, disproportional health. It also affects the environment because of the massive development of the economy in the industrial and transportation aspect, thus, produces dangerous greenhouse gas.

During this pandemic crisis, the way of living that we are used to suddenly changed. Because of COVID- 19, we cannot go out whenever we want and buy what we want and do what we want. But because of the technological advantage, we have the business owners- customers find new ways to connect and fills each other needs. Using the advantage of technology to communicate. The ABS-CBN issue the largest television network that operates in giving and creating programs that entertain and provide information to its audience. But was taken down because of not following the regulations; in this time of crisis, we need a direct source of information that can be easily accessed, but because of what happens, getting information is confusing, with the development in technologies, we can be updated and informed in different ways.

Globalization plays a role as the driving force for change. Because of globalization, we can open and widen our perspective about the world. These leads to change. Change is significant everyone wants to change but it is still important to remember to consider the situation for the betterment of everyone.