What is the relation between economy and globalization?-WU JIACHEN

 

Summary

The relationship between economy and globalization is fundamentally reciprocal. Globalization expands economic interdependence by increasing the flow of goods, services, capital, and technology across borders. This interconnectedness stimulates economic growth, encourages innovation, and widens market opportunities. At the same time, economic forces drive globalization forward—companies seek new markets, governments pursue trade agreements, and financial systems integrate globally. However, globalization also brings challenges such as inequality, job displacement, and vulnerability to global crises. Ultimately, the economy both shapes globalization and is reshaped by it.

What Interested Me

  • I found it interesting how global supply chains make everyday products the result of collaboration across many countries.

  • The way that economic globalization can create growth while also increasing inequality reveals its complex impact.

  • The idea that financial markets are now globally linked—so a crisis in one country can spread rapidly—highlighted how interdependent the world has become.

Questions I Still Have

  • Will future globalization reduce inequality, or will it continue to widen the gap between countries and social groups?

  • How can governments balance economic openness with protections for vulnerable workers?

  • As digital and AI-driven economies rise, how will globalization change in the next decade?

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