Discuss how globalization affects our daily lives. Provide an instance where globalization can be
observed.
= Because of the global expansion of companies, many poor countries have seen an improvement in their
level of life as a result of improved roads and transportation, improved health care, and higher education
as a result of globalization. Globalization can be observed in Economic globalization, Financial
globalization, Cultural globalization, and more.
Globalization, in general, seems to be ungovernable due to the nature of the actors and the system.
However, the establishment of global financial institutions (WB-IMF-WTO) shows an attempt to governing
the economic activities in globalization. Are these institutions successful or not in their attempt of
governance? Justify your answer.
= yes, the IMF evaluates the governance and transparency frameworks within central banks of states to
which it loans money to safeguard its resources. It encourages competent monitoring, control, auditing,
and public financial reporting in these vital financial institutions as a result of this process. The
Governance Global Practice assists clients in establishing institutions that are capable, efficient, open,
inclusive, and responsible. This can be crucial for resuming sustainable growth following COVID-19, and
it's central to the planet Bank's twin goals of eradicating extreme poverty and increasing shared
prosperity. Transparency led to shared information and knowledge is inspired by the WTO to push good
governance and level the playing field. Arbitrariness and chances for corruption are reduced when rules
are followed. They also protect governments against special interests lobbying.
Among the different perspectives on globalization, which one do you believe the most?
Among the different perspectives on globalization, I most believe in the Hyperglobalist because it believes
that globalization is taking place and that local cultures are eroding as a result of the expansion of
international capitalism, and the emergence of a homogeneous global culture, they believe that
globalization is a positive process marked by economic growth, increasing prosperity, and the spread of
democracy.