Daniel Miovcic
Ms.McCowen, Ms.Theobald
WPC 101
October 6, 2017
Lecture 3
Globalization, a lecture held by Ajay Vinz helps students understand how the theory of
globalization helps fuel our world as a whole. Vinz explains how citizens over the age of 30 and
40 are the main contributors to the economy within their nation. This statement is true because
the majority of citizens over the age of 30 and 40 have all completed college and have some sort
of degree. In addition, those individuals within that age range have managed to obtain jobs and
acquire a good source of income. With that being said he continues to explain how nations with a
majority of younger people have poor economies, because a good amount of them do not have
jobs or are in the stage of getting a job. Mr. Vinz then proceeds to talk about how globalization
prepares people for the unpredictable. This statement yet again is true, as the world continues to
progress people are faced with problems and issues from different nations across the world. With
international trade being a big factor within globalization we see that the entire world is
connected together. For example the subprime mortgage crisis in 2006 within the United States
not only effected businesses banks economy and the United States but it effected the world. Till
this day we see certain prominent nations such as France have trouble getting back on their feet
just because of one dominant nations troubles. In addition, we see that European nations have
trouble employing certain individuals from college just because jobs within those nations that
were effected during the housing crisis have less positions and opportunities than in the United
States. What also seems to be interesting about globalization that is corrupt yet interesting is that
banks such as J.P Morgan, Wells Fargo, and bank of America had been granted billions of dollars
in return after the housing crisis had occur. This companies were essentially bankrupt, but since
those companies were so dominant during the time and many Americans had accounts whithin
those companies the governtmetnn was forced, for the banks sake and the people of Americas
sake to transfer funds into those banks. This helped the Amercican economy to slowly grow back
to normal, but unfortunantly left the rest of the world in a very bad shape. This is just one
example that implements strong yet poor globalization techniques, and also shows how
international globalization is vital for the stepping stone of the worlds future.
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