Globalization: A College Freshman’s Understanding
Word Count: 511
The globe, formerly divided due to technology and physical distance, is becoming
more interconnected due to globalization. An increase in international connections,
including the flow of ideas, cultures, goods, services, and investments, is evidence of this.
Although it has been happening for much longer, globalization has significantly risen in
the last 60 years. Thomas Friedman claims that the current pattern represents the third
significant wave of globalization in the history of humanity. (Greenlaw, n.d.). The
economy, cultures, and people of the world are becoming increasingly interconnected
due to cross-border globalization in commodities and services, technology, and finance,
as well as the movement of people and information. (Kolb, 2018) Theoretically, though,
globalization looks far from finished and requires extensive preparation.
I'd read that some people are against globalization since it makes it harder for
those with less money to prosper due to rising competitiveness from the worldwide
industry. Additionally, I became aware of how modern technology—including the internet
and television, promoted globalization, especially regarding how Western culture has
impacted other parts of the world. Finally, it demonstrated how combining countries made
sharing knowledge and culture more accessible, leading to more significant ties and
stability. (Fortich, n.d.) I also discovered that there are several signs of the intricacy of
globalization.
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After reading the paper, I wasn't sure how it could be said that globalization had
increased market interconnection worldwide. (ModulTrade, 2018). Later in the essay, it
was emphasized that globalization was to blame for the precipitous decline in commerce.
Due to its complexity and ability to incorporate various activities based on several
variables, globalization cannot be adequately defined by a single term. Finally, I didn't
understand the claim that globalization was a source of economic development for the
global economy. However, globalization also contributes to greater inequality inside and
across nations. (Goldin, 2012)
I formerly believed that countries' reactions to globalization were insignificant and
that there was no need to pay attention to them. But that's where I'm mistaken. Nations
won't be able to come up with a practical answer for years that will lead to an increasing
economy, a decreased unemployment rate, a contented populace, and fewer low-income
families. Due to constant international conflict and dishonest government officials stealing
money meant for the people. (Fortich, n.d.)
Regarding the article, I would like to know what has become of any nations with
minimal or no contact with other countries. I also want to know which nations make the
most economic contributions. Finally, if possible, could you include any visual aids, such
as charts, to help me better grasp the article's statistical component?
After reading and evaluating the article, I better-understood globalization, how it
affects the world, and how connections to function in every nation. The summary of
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definitions and indicators of economic globalization reveals a particular dynamic of
contemporary trends. National actions, macroeconomic policies, and changes made
globalization feasible at the start of this wave. It was clearly described, even though I don't
often read articles regarding globalization. Future studies on globalization will examine
novel processes, causes, and impacts in this environment.
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