What Is the Relation Between Economy and Globalization?- Minjee Kim 김민지

 

1. Summary

The economy and globalization are so deeply intertwined that discussing one without the other is almost impossible. As globalization has intensified, national borders have become less important in shaping economic activity, and the movement of capital, goods, and technology across countries has accelerated dramatically. Companies no longer carry out all stages of production within a single nation. A product may be designed in one country, use resources from another, and be assembled in a region where labor costs are lower. This illustrates how the global economy now operates as a highly interconnected network.

However, this does not mean that states have become powerless. Governments still set labor standards, establish environmental regulations, negotiate trade policies, and design strategies to attract foreign investment. At the same time, corporations rely on states for legal stability, infrastructure, governance systems, and an educated workforce. Therefore, the relationship between globalization and the economy is not a simple one-sided power dynamic but a continuous negotiation in which both sides depend on each other in different ways.

2. What I Learned

Studying this topic changed my understanding of globalization. I previously thought globalization was mostly about cultural exchange, tourism, or increasing levels of trade. But I realized that economic integration is the underlying force enabling all these processes. Global production networks and trade systems create the conditions that allow people, ideas, and technologies to move so quickly and widely across borders.

Another insight was that globalization is far from an equal or balanced process. Large corporations can relocate their factories whenever it benefits them, but workers do not have the same mobility. As a result, when a factory shuts down in one country and reopens in another, workers in both locations often face instability despite having no control over the decision. This made me reflect on how globalization impacts real people’s lives, not only institutions or markets.

I also learned that globalization is not evenly distributed across the world. Instead, economic flows tend to be concentrated in regions such as East Asia, North America, and Europe. This means globalization does not dissolve national differences; rather, it forms overlapping regional networks. Understanding globalization as a multi-layered system—rather than a single homogeneous process—helped me see its complexity more clearly.

3. Questions and Concerns

While studying this topic, I found myself returning again and again to concerns about fairness. Countries with large markets or strong economies can negotiate with corporations from a position of strength, while smaller or less developed countries often cannot. To attract investment, they may lower taxes, relax regulations, or weaken labor protections. This creates a situation where states compete by lowering standards rather than raising them, leading me to question who truly benefits from globalization and who bears the costs.

Environmental issues also stood out to me. Enormous quantities of goods are transported across the world every day, generating significant carbon emissions. Corporations frequently prioritize profit over sustainability, and some governments may overlook environmental concerns in pursuit of economic growth. If globalization continues in this direction, the environmental consequences could become severe. This raises important questions about whether individual states can still protect the environment and workers—or whether stronger international rules and institutions are necessary to prevent corporations from relocating to places with the weakest protections.

4. Using AI

I used AI only to assist with difficult translation sections. The structure, ideas, and overall writing were developed independently.

Comments

  1. Jeong GiyoungDecember 13, 2025 at 4:46 AM

    This article explains the interdependence of the economy and globalization in a balanced way, and it is impressive that it critically looks at the relationship between countries, companies, and workers. The change in personal perception of globalization and the concerns about inequality and environmental issues are well revealed, adding depth to the article. However, some explanations may feel long, so if you compress the sentence a little more and add a simple specific case, the thesis will be clearer.

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