What is the relation between economy and globalization? - Kim minji

1. Summarize

The economy and globalization reinforce and accelerate one another. Advances in transportation and communication technologies have sharply reduced the cost of cross-border transactions. The standardization of container shipping, the spread of the internet, and the growth of air transport have all helped break down the barriers of physical distance. These developments have enabled firms to produce and sell on a truly global scale.

International capital flows have also expanded rapidly. Through foreign direct investment, capital crosses national borders in search of higher returns. This movement can supply much-needed funds to developing countries while offering profitable opportunities to investors in advanced economies. At the same time, as seen during the global financial crisis, it also carries the risk that an economic shock in one region can quickly spread across the world.


2. My thought

Through class discussions, I came to understand that globalization is neither wholly positive nor wholly negative; rather, it is a complex and multifaceted process. It is an outcome of technological progress and the pursuit of economic efficiency, yet it inevitably brings challenges such as inequality and environmental degradation that we must address.

I also realized that globalization is not something we can simply reverse. Instead of rejecting it outright, we need to find ways to reduce its side effects and ensure its benefits are shared more equitably. Doing so requires international cooperation and regulation, corporate social responsibility, and active oversight and participation from civil society.


3. Use of AI

I wrote this text myself, and used AI only to help with translation and to smooth out the wording.

Comments

  1. Kim GaeunDecember 11, 2025 at 9:06 PM

    I completely agree that international cooperation is key to managing globalization's side effects rather than reversing the process. I think the critical challenge now is identifying which international bodies are strong enough to genuinely enforce corporate social responsibility across borders.

    ReplyDelete

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