Subject: Globalization Key Terms And Why You're Interested

Subject Globalization1key Term And Why You Are Interested In Iti Cho

Subject: Globalization 1. Key Term and Why You Are Interested in It I chose globalization because I want to learn more about the ways countries can integrate and learn from one another. My husband is currently living in Okinawa, Japan, and we have learned a lot about how things are similar and different between Japan and the United States. This prompted my academic curiosity and made me want to research and learn more about how globalization works. I am hoping to see both the benefits and the negatives associated with globalization to help deepen my understanding of the topic.

The relationship with the citizens in Japan and the military can be tense at times but is a mutually beneficial relationship for the citizens in Japan and military members.

Explanation of the Key Term

Globalization is a term that describes the relationships between multiple nations and how their cultures cross in a business sense. Globalization “creates interdependencies among nations,” which is a controversial topic as some critics feel this makes a country weaker, not stronger (Satterlee, 2018). It is important to create relationships where each country is reliant on the other to build better working relationships between them.

An important part of creating a relationship to foster business is to include both cultures and to show mutual respect for each other’s cultures. The goal of globalization is to build a mutually beneficial business relationship.

Major Article Summary

The article, “Globalization, de-globalization, and re-globalization: Some historical context and the impact of the COVID pandemic,” reviews the impact the COVID pandemic has had on globalization. The author gives a brief review on how globalization had come to be in the world at the time the pandemic hit and how the world has had to adjust since the impacts of the pandemic have started to be felt.

One major point the author makes is the problem the United States had when COVID slowed production in China and the United States was unable to receive the items they depended on China to produce. The author feels hyper globalization has not benefited the United States and COVID was a good example of why. There was a large amount of reliance on China, but due to an illness that spread across the world, Americans were not able to access everything they were used to getting at the grocery store. The author recommends less globalization of products to prevent widely spread shortages that can occur when the majority of your goods are coming from another country on the opposite end of the world. The author did not feel continuing with the level of globalization the country was operating at when the pandemic hit is a sustainable way to continue doing global business.

Discussion

The articles I reviewed helped me to deepen my understanding of globalization by learning more about the way the “integration between multiple countries” is a key piece of globalization. I also learned globalization can be tied to environmental pollution and in some countries depending on what products they are manufacturing. Government spending is impacted by globalization and what amount of money may be allotted to specific parts of a government budget.

“According to the compensation hypothesis, greater exposure to international trade implies higher external exposure to external risk and volatility, which in turn generates demands for higher spending” (Anderson & Obeng, 2020).

Further Perspectives on Globalization

The class text presented a broad overview of globalization, while the article “Inequality and Globalization: A Review Essay” discusses how countries can experience unequal relationships when participating in globalization. One country may benefit more than the other, causing discontent. In the United States, some citizens prefer less globalization and more manufacturing domestically due to concerns over product quality and economic disparity. The authors suggest that slowing global trade is partly due to these inequalities, where one country benefits disproportionately (Ravallion, 2018).

References

• Anderson, E., & Obeng, S. (2020). Globalisation and government spending: Evidence for the ‘hyper-globalisation’ of the 1990s and 2000s. The World Economy.
• Antras, P., Gortari, A. d., & Itskhoki, O. (2017). Globalization, inequality and welfare. Journal of International Economics.
• Madhok, A. (2021). Globalization, de-globalization, and re-globalization: Some historical context and the impact of the COVID pandemic. BRQ Business Research Quarterly.
• Ravallion, M. (2018). Inequality and Globalization: A Review Essay. Journal of Economic Literature.
• Satterlee, B. C. (2018). International Business with Biblical Worldview. McGraw-Hill Education.
• Sun, C., Ma, T., Ouyang, X., & Wang, R. (2019). Does Service Trade Globalization Promote Trade and Low-Carbon Globalization? Evidence from 30 Countries. Emerging Markets Finance and Trade.
• Yang, X., Hou, J., & Arth, Z. W. (2021). Communicating in a proper way: How people from high-/low-context culture choose their media for communication. International Communication Gazette, 83(3), 238–259.