Globalization Replies
BeautifulFlower
Post1.docxSubject: 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.
2. 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.
3. 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.
4. Discussion
5. The articles I reviewed helped me to deepen my understands of globalization by learning more about the way the “integration between multiple countries 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).
6. Globalization is presented by the class text in a nice broad overview of the topic. The“Inequality and Globalization: A Review Essay” article goes into more detail about a lot of the ways countries can experience unequal relationships when participating in globalization. One country may benefit more than the other causing feelings of discontent. In the Unites States there are citizens who would like to see less globalization and more manufacturing to take place in their own country. Some of these people have concerns with the quality of the product being created through global partnerships. The authors in this article feel the slowing in global trade has largely to so with the inequality that is created when one country is benefitting more than the other.
7. References
Anderson, E., & Obeng, S. (2020). Globalisation and government spending: Evidence for the
‘hyper-globalisation’ of the 1990s and 2000s. The World Economy, 1144-1176.
https://onlinelibrary-wiley-com.ezproxy.liberty.edu/doi/full/10.1111/twec.13035
Antras, P., Gortari, A. d., & Itskhoki, O. (2017). Globalization, inequality and welfare. Journal of
International Economics, 387-412.
https://www-sciencedirect-com.ezproxy.liberty.edu/science/article/pii/S0022199617300958?via%3Dihub
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, 620-642.
Satterlee, B. C. (2018). International Business with Biblical Worldview. United States: 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, 1455-1473.
https://www-tandfonline-com.ezproxy.liberty.edu/doi/full/10.1080/1540496X.2019.1627517
