The Relation Between Economy and Globalization-LIANGYIQIAO

 1. Summary

In the lecture “Class Stratification, Inequality and Poverty”, we learned how economic structures influence people’s chances in life. Class isn’t only about how much money someone makes—it's also about education, job security, social networks, and the ability to move up in society. The lecture points out that inequality is created by bigger systems, like government policies and changes in the global economy, not just by individual effort.


Reading 4 then brings these ideas into the global context. It explains how globalization connects different countries through trade, technology, investment and labor. Because of this, what happens in one country’s economy can easily affect another. Overall, the reading shows that the economy and globalization are tightly connected and constantly influence each other.

2. Interesting Point

One thing that stood out to me is how globalization can create both new opportunities and more inequality. For example, skilled workers often benefit because global companies need their expertise, while low-skilled workers may lose jobs as factories move overseas for cheaper labor.


I found it interesting that inequality today is not just a national problem—it’s shaped by global markets and international competition. This made me realize how connected everyday economic issues are to larger global forces.

3. Discussions

(1) The economy pushes globalization forward

Countries want bigger markets, cheaper production costs, and more investment, so they naturally join global networks. Economic interests are basically the engine of globalization.


(2) Globalization then changes how economies work

Once countries are linked, their economic decisions are shaped by global competition. Companies have to compete internationally, workers need new skills, and governments adjust their policies to stay competitive. This shows how globalization reshapes domestic economies.

(3) Inequality becomes more complicated

Globalization creates winners and losers. Countries with strong technology and skilled labor gain the most, while others may stay in low-value industries. Within countries, high-skilled workers benefit, but low-skilled workers face more instability.

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