perspective about globalization essay

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My Perspectives on Globalization

Contemporary world (ge 8), western philippines university, recommended for you, students also viewed.

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Globalization refers to the increasing interconnectedness of economies, societies, and cultures across the world. It is a process that has been happening for centuries but has accelerated significantly in recent years due to technological advancements in communication and transportation. In this essay, I will share my perspectives on globalization, focusing on its definition, contributions to social and economic development, and limitations. Globalization is a complex phenomenon that encompasses many different dimensions, including economic, social, cultural, and political. At its core, however, globalization can be understood as the process of increasing interconnectedness between people and institutions across national borders. This interconnectedness can take many forms, such as trade, investment, migration, and communication.

Globalization has had many positive contributions to social and economic development. One of its most significant benefits is that it has helped to lift millions of people out of poverty in developing countries. This has been accomplished through increased trade and investment, which has created new jobs and increased access to goods and services. The contributions of globalization to social and economic development are numerous. One of the most significant benefits of globalization is the increase in economic growth and prosperity that it has brought about. Globalization has led to the creation of new markets, new opportunities, and new sources of investment, all of which have helped to drive economic growth and development around the world. According to the World Bank, between 1980 and 2017, global GDP per capital grew at an annual rate of 2%, with developing countries growing at an average of 4% per year. This economic growth has helped to reduce poverty and improve living standards, with the number of people living in extreme poverty falling from 36% in 1990 to 10% in 2015.

In addition, globalization has also led to the spread of new technologies and ideas, which has helped to promote cultural exchange and mutual understanding between people of different backgrounds. This has contributed to greater social

cohesion and reduced the likelihood of conflict between nations. Globalization has facilitated the movement of goods, services, and capital across national borders, creating new opportunities for businesses and investors. This has led to increased competition, which has encouraged innovation and efficiency, as well as improved access to goods and services for consumers. The increase in trade has also enabled developing countries to participate in the global economy, helping to create new jobs and reduce poverty. In 2019, the World Trade Organization estimated that merchandise trade increased by 3% compared to the previous year, with services trade growing by 2%.

Furthermore, globalization has also encouraged the development of new industries and sectors, which has led to economic growth and increased prosperity for many countries. For example, the growth of the technology sector has created new opportunities for innovation and entrepreneurship, which has helped to drive economic growth and job creation in many parts of the world. Globalization has also had a significant impact on cultural exchange and social development. The increased flow of people and ideas across national borders has led to the emergence of a global culture, characterized by the blending of different traditions, values, and lifestyles. This has helped to break down cultural barriers and promote understanding and tolerance between different groups of people. Globalization has also enabled the spread of technology and knowledge, which has helped to improve education, health, and other social indicators. For example, the spread of mobile phones and the internet has enabled people in developing countries to access information and services that were previously unavailable to them.

Unequal distribution of benefits: Globalization has led to the integration of economies and the creation of a global marketplace, which has expanded opportunities for trade, investment, and technology transfer. However, not all countries and regions have been able to take advantage of these opportunities equally. Some countries, particularly those with abundant natural resources, strategic location, or well-developed infrastructure, have been able to attract more foreign investment, access more markets, and generate higher growth rates. In contrast, many developing countries, especially those with weak institutions, poor infrastructure, or limited human capital, have

CONTEMPORARY

Submitted by: nikko l. aronales, bsme-, submitted to: mr. kenz ford n. bodiongan.

Multiple Choice

Course : Contemporary World (GE 8)

University : western philippines university.

28 CPAR 12 Reviewer 1ST Quarter Contemporary World 98% (42)
More from: Contemporary World GE 8 Western Philippines University 203 Documents Go to course

From Local to Global: My Perspective on Globalization

Category: Social Issues , Economics
Topic: Globalization , Income Inequality , Income Wealth Gap

Pages: 5 (2184 words)

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