What is the relation between economy and globalization? ---YANJINJIN

 1. Summary

Economy and globalization are deeply interconnected. Globalization accelerates the flow of goods, capital, labor, and information across borders, reshaping national economies in the process. Countries can access larger markets, attract foreign investment, and integrate into global supply chains. At the same time, economic policies and growth levels influence how successfully a country participates in globalization. Simply put: globalization drives economic change, and economic strength determines how a country benefits from globalization.

2. An interesting point

One fascinating aspect is how globalization can simultaneously create prosperity and vulnerability. Take smartphones as an example: a single device involves design from the U.S., rare earth materials from China, manufacturing in Vietnam, and components from Korea and Japan. This global cooperation lowers costs and speeds up innovation, but it also means that a single disruption—such as a pandemic or a shipping crisis—can affect the entire world economy. The same network that makes products cheaper also makes economies more fragile. This dual nature is what makes globalization so compelling.

Another interesting point is how globalization changes consumers’ everyday lives. For instance, a teenager in Brazil might listen to Korean K-pop, wear sneakers designed in Europe, and buy them through an American platform—all within minutes. Personal choices today are global economic actions.

3. Discussion

How can we design an economic system that benefits from global integration while still protecting vulnerable groups and maintaining local stability?

Should governments focus on building stronger local industries, or invest more in adapting to global competition? And more importantly, how can individuals prepare for a future economy where global changes can affect their jobs, skills, and opportunities overnight?

Comments

  1. Kim GaeunDecember 11, 2025 at 8:57 PM

    That's a really great summary that clearly connects the economy and globalization! I especially found your point on the dual nature of global supply chains—creating both prosperity and fragility—super interesting and a great way to think about our current world.

    ReplyDelete

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