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    The Contemporary World Act. 2

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    Jervyn Guianan
    The document discusses economic globalization and its increasing integration of economies through cross-border movement of goods, services, capital, labor, and technology. It provides an analogy that globalization connects countries in the global economy like pieces of clothing connecting to form a single whole. Key aspects of globalization mentioned include increasing trade, financial flows, and spread of technologies between nations.

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    The Contemporary World Act. 2

    Uploaded by

    Jervyn Guianan
    406 views2 pages
    The document discusses economic globalization and its increasing integration of economies through cross-border movement of goods, services, capital, labor, and technology. It provides an analogy that globalization connects countries in the global economy like pieces of clothing connecting to form a single whole. Key aspects of globalization mentioned include increasing trade, financial flows, and spread of technologies between nations.

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    BEED-GE1-act 2

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    The document discusses economic globalization and its increasing integration of economies through cross-border movement of goods, services, capital, labor, and technology. It provides an analogy that globalization connects countries in the global economy like pieces of clothing connecting to form a single whole. Key aspects of globalization mentioned include increasing trade, financial flows, and spread of technologies between nations.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    406 views2 pages

    The Contemporary World Act. 2

    Uploaded by

    Jervyn Guianan
    The document discusses economic globalization and its increasing integration of economies through cross-border movement of goods, services, capital, labor, and technology. It provides an analogy that globalization connects countries in the global economy like pieces of clothing connecting to form a single whole. Key aspects of globalization mentioned include increasing trade, financial flows, and spread of technologies between nations.

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    © All Rights Reserved
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    of 2

    ALYSA MAE B.

    BAYTAN 1 BLOK-B
    A.

    economic globalization refers to the increasing integration of economies


    around the world, particularly through the movement of goods, services, and
    capital across borders. This also refers to the movement of people (labor) and
    knowledge (technology) across international borders. In other words, the
    increasing interdependence of world economies as a result of the growing scale
    of cross-border trade of commodities and services, the flow of international
    capital, and wide and rapid spread of technologies.

    As I simply describe globalization (try to look at my picture above) I am wearing 10 kinds of


    apparel and accessories, for example, those apparel and accessories represent countries and my body
    represents the world. As you can see, they are now connected. That is how I illustrate economic
    globalization in which every nation is now connected. I can say that economic globalization is so
    effective why? It is because when I wear all of that apparel and accessories, I look good just like in
    globalization when all of the countries are connected their economy makes good too.

    B.

    1. The three things that I significantly learned from the readings are (1.) importance of
    globalization, it aims to benefit individual economies around the world by making markets more
    efficient, increasing competition, limiting military conflicts, and spreading wealth more equally. (2.)
    the International Monetary Fund (IMF) who defined Economic Globalization as the process
    representing the result of human innovation and technological progress. It is characterized by the
    increasing integration of economies around the world through the movement of goods, services, and
    capital across borders. (3.) The oldest form of international trading system the SILK ROAD. The Silk Road
    was a network of trade routes that connected the East and West and was central to the economic,
    cultural, political, and religious interactions between these regions from the 2nd century BCE to the 18th
    century. Traders used the Silk Road regularly from 130 Before Common Era (BCE) when the Chinese Han
    Dynasty opened trade to the West until 1453 BCE when the Ottoman Empire closed it. So, in addition to
    economic trade, the Silk Road was a route for cultural trade among the civilizations along with its
    network. Diseases, most notably plague, also spread along the Silk Road.

    2. T he three things that still unclear for me is first the WTO or world trade organization, I want
    to know more about it like the process and so many more. next is Benczes is he economist or what? I do
    not know him and what is his contribution in economic globalization. Last one is the International
    Monetary System (IMS) what is the role of it to the economic globalization.
    C.

    I was not surprised by the video because I was already aware of it. When I was young this kind
    of identity Marcos was written by me. Days go by, little by little I became enlightened about the issues in
    Marcos, I learned more about them whether positive or negative. Most of the Filipinos are against them
    and they only see the mistakes of Marcos, that is why until now they think so badly of the Marcos
    family. May he have done so bad to the history of the Philippines but those he has contributed to his
    country will never be forgotten. One thing for sure and I believed that Ferdinand Marcos is a good
    leader.

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