What is the relation between economy and globalization?-CHEN SIWEN（진사문）

 1. Summary

The relationship between the economy and globalization is deeply interconnected and mutually reinforcing. Economic activities such as trade, investment, and production are the main driving forces that push globalization forward. At the same time, globalization reshapes the structure of national economies by encouraging cross-border cooperation and competition. Today, goods, capital, information, and even labor circulate across borders faster than ever before, forming a highly interdependent global economic network.

Unlike earlier periods when most production was completed within one country, modern economic globalization is characterized by global value chains. Different stages of production are distributed across various countries based on cost, technology, and resources. This means that no single country can easily isolate itself from the global economy. Even small economic changes in one region may quickly affect markets in other parts of the world. Therefore, the economy is not only part of globalization but also its most fundamental engine.

2. What I Learned

Before studying this topic, I tended to view globalization mainly as a result of improved communication and transportation. However, I now realize that economic motivations are actually the strongest driving power behind globalization. Companies expand globally not only because they can, but because globalization allows them to reduce costs, access new markets, and increase profits. This shows that globalization is not just a cultural or technological trend, but a strategic economic choice.

Another important insight is that globalization does not affect all participants in the same way. Some countries become production centers, others become technology leaders, while some mainly act as consumers. This uneven role distribution explains why economic globalization produces both growth and inequality at the same time. I also learned that globalization is not a one-way process led only by corporations. Governments still shape globalization through policies, regulations, and international agreements. This balance between state power and market power makes globalization a dynamic and constantly changing process.

3. Questions and Concerns

Although economic globalization has created great wealth and convenience, I still have concerns about its long-term consequences. One major question is whether globalization can become more inclusive. At present, many low-income workers remain at the bottom of global production chains, receiving very limited benefits compared to multinational companies. This raises the issue of fairness and whether current global economic rules truly protect vulnerable groups.

Another concern is sustainability. The global economy encourages mass production, fast consumption, and long-distance transportation, all of which put heavy pressure on natural resources and the environment. If economic globalization continues to prioritize speed and profit above ecological balance, the environmental costs may eventually outweigh the economic benefits. Therefore, I believe that the future relationship between the economy and globalization should move toward a model that places greater emphasis on social responsibility, environmental protection, and shared development rather than unlimited growth.

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