What is the relation between economics and globalization?--HE ZIXUAN(하자선)

1) Summary

Economics and globalization are closely connected in daily life, even if we don’t always notice it. Globalization means that countries are more connected through trade, money, technology, and production. Economics helps explain why these connections happen and what effects they bring. Because of globalization, countries do not only depend on their own markets anymore. Companies can sell products worldwide, factories can move to other countries, and consumers can buy cheaper or more diverse goods. These changes are driven by basic economic ideas such as cost, profit, competition, and efficiency. So in simple words, globalization is how economies connect, and economics explains how this connection works.

2) Interesting Point

What I find interesting is that globalization sounds very “global,” but the effects are actually very local.

From an economic view, globalization can increase overall wealth. But in real life, it does not benefit everyone in the same way. For example, big companies may earn more by using global supply chains, while some local workers may lose jobs or face lower wages because they cannot compete with cheaper labor from abroad. This shows that economic growth and people’s real experiences do not always match. So globalization is not just some abstract economic trend — it directly affects people’s jobs, prices, and even lifestyles.


3) Discussion

This leads to an important question: Is globalization really good for everyone?

Some people support globalization because it brings growth, innovation, and more choices for consumers. Others criticize it for creating inequality, job insecurity, and economic pressure on weaker countries or groups. From an economic perspective, globalization itself is not “good” or “bad” — it depends on how governments manage it.

I think economics helps us understand the logic behind globalization, but society still needs to decide what values matter most. If economic policies only focus on growth and profit, many people may be left behind. A better balance between economic efficiency and social fairness might be the key to a healthier kind of globalization.

Comments

Post a Comment

Popular posts from this blog

What is globalization--Kim younggyun

 1) Summarize From what I understand, globalization is not merely an economic trend. It is a broad concept in which the world becomes increasingly interconnected on cultural, social, political, and even individual levels. Because globalization is such an all-encompassing idea, it is only natural that debates continue over its definition. This is exactly what made studying the concept of globalization difficult for me. That is why, like Robertson and White, I tried to understand globalization mainly through the two dimensions of increasing connectivity and growing consciousness. I find their approach persuasive. When internet, transportation, and trade expand, the connections between countries grow stronger, and naturally, people begin to perceive the world as a “single place.” 2) Interesting point What I found particularly interesting while studying globalization is that it does not simply lead to “one-sided homogenization.” I used to think of globalization only as the expansion of...
Read more

What is globalization? | Yun Shinji

1.   Summary It is difficult to define the concept of ‘globalization’ with a single meaning, as the term is used in various contexts with different implications. Sociologist Roland Robertson describes globalization as “the compression of the world and the intensification of consciousness of the world as a whole". Robertson and White further elaborate it as two main trends “an increase in global interconnectedness” and "an increase in global consciousness". In this way, globalization is a complex phenomenon in which the world becomes closely connected across borders, and it is used in multiple ways in different contexts. Globalization can be broadly divided into three dimensions cultural, political, and economic. Among them, cultural globalization is the phenomenon we experience most directly in our daily lives. For example, a cultural content that becomes popular can spread worldwide and be shared globally. However, this phenomenon also raises concerns about cultural hom...
Read more

What is the relation between politics and globalization? - Yun Shinji

1) Summary The author views “political globalization” as a multidimensional, accelerated, and interconnected form of organization that transcends national borders across space and time. Rather than seeing globalization as a simple reality, the author understands it as a “relational dynamic” that produces a complex and constantly shifting political landscape. According to the author, political globalization is driven by three key processes. First is global geopolitics. This involves interactions mainly between states, including traditional balances of power, international security, territorial disputes, and other state-centered dynamics. These geopolitical interactions continue to shape how states position themselves in an increasingly interdependent world. Second is the global normative culture, which refers to political values and norms—such as human rights and democracy—that are shared or diffused across the world. These norms influence how states govern internally and how they are e...
Read more