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Sheffield Marie N. Maravilla GED 105_A53
Bordering Globalization: Thinking its Aspects Globally
Made in China, Made in Italy, or Made in the United States of America. Have you
come across these words before? or does it sound familiar? We often see these labels
on our clothes or in our home items, and we use them as a gauge for how long something
will last. With this, Globalization has been a part of our lives since we were born. People
have only grasped the meaning of this on a surface level, which is how we generally see
them. For these past decades, a lot has been changed, we now have quick access to a
huge array of information sources and can share new knowledge with the rest of the globe
in seconds, thanks to major technological advancements over the last half-century. Rapid
advancements in communication and transportation technologies have aided substantial
innovation in a variety of disciplines, fundamentally altered how we work, increased
productivity, and strengthened international commerce and financial ties.
The article shows how globalization affects human life, it also tackles the different
methods used in measuring globalization to determine how globalized the country is and
less globalized. The first thing that enlightens me is the 3 relevant indexes of globalization:
KOF Index of Globalization which is introduced by Dreher in 2002 which measure 123
nation’s degree of globalization for 30 years and updated in 2008 already covers the three
most important dimensions of globalization namely, economic, social and political
dimensions of globalization. A.T. Kearney/ Foreign Policy Globalization Index. This
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covers the four dimensions of the globalization process (i) the degree of integration of its
economy in the world economy, (ii) the internationalization of the personal contacts of its
citizens, (iii) the use of internet technology, and (iv) the extent of its international political
engagement. The new index is proposed by Pim Martens called Maastricht Globalization
Index (MGI), It tracks the economy, politics, social issues, technology, and the
environment as well as other aspects of globalization. According to OECD (2008) and
Martens and Raza (2009), the indicator was developed in a four-stage procedure.
Secondly, I learned in the article is the three important dimensions of globalization (1)
Economic globalization, (2) Political globalization, (3) Socio-Cultural globalization. These
three types influence one another. Economic globalization, for example, is fueled by
liberalized national trade policy. Political policies have an impact on cultural globalization,
allowing people to communicate and travel more freely around the world. Through the
import of goods and services that expose individuals to different cultures, economic
globalization has an impact on cultural globalization. Lastly, The Openness Index is an
economic indicator calculated as the ratio of a country's total commerce, the sum of
exports plus imports, to the country's gross domestic product, which I learned is the most
often used Integration Measure.
The three things that remain unclear to me based on the readings are (i) whether
globalization should be viewed as an opportunity or a threat? (ii) The OECD's involvement
in globalization management, which is not fully proved. (iii) the concept of economic micro
dimensions.
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The three things that I used to think (i) Is the Philippines ready to strive for inclusive
globalization and can stand with the standards of the world's largest economies? Would
it be beneficial for the country or detrimental? (ii) What if the Philippines fights for
globalization that is more inclusive? Will it have a good impact, like it did in Singapore
and Japan? (iii) Is there truly a terrible globalization, or should we say, globalization that
is poorly managed?
Since the article only talks about the definition, components and how we measure
them. The Philippines is considered a third world country, but we are already a part of
globalization, Should we blame globalization or the administration for not keeping up with
the first world countries? Is globalization the solution to challenges or is it a veil that masks
the real problem? How does the Philippines respond to the demands of globalization?
Companies can develop more cost-effective ways to create their goods as a result
of globalization. It also boosts global competition, which lowers prices and provides
customers with a wider range of options. People in both emerging and developed
countries benefit from lower prices since they can live better on less money. Globalization
has boosted the developing world's economic prosperity and opportunities. Civil freedoms
in countries around the world have been increased as a result of globalization's more
effective use of resources. Countries that participate in free trade make more money.
