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Economic Globalization Is Irreversible: Discussion

Economic globalization is characterized by increased cross-border trade, capital flows, and technology diffusion. It represents the continued convergence of business across national borders and is an irreversible force in global economic growth. Economic globalization is driven by the increasing importance of knowledge in production and economic restructuring. While globalization will continue to change over time with new inventions and developments, it is now an unstoppable phenomenon characterized by integrated global supply chains and consumer preferences for international brands.

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Jonah Delmundo
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619 views

Economic Globalization Is Irreversible: Discussion

Economic globalization is characterized by increased cross-border trade, capital flows, and technology diffusion. It represents the continued convergence of business across national borders and is an irreversible force in global economic growth. Economic globalization is driven by the increasing importance of knowledge in production and economic restructuring. While globalization will continue to change over time with new inventions and developments, it is now an unstoppable phenomenon characterized by integrated global supply chains and consumer preferences for international brands.

Uploaded by

Jonah Delmundo
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Economic Globalization is irreversible

Introduction
Economic globalization provides a wide range of mechanisms, opportunities, and issues relating
to the distribution of economic activities across countries. It refers to the growing
interdependence of global economies as a result of increased cross-border trade in goods and
services, foreign capital flows, and the widespread and accelerated diffusion of technology. It
represents the continued globalization and mutual convergence of business frontiers, and it is an
unstoppable theme in global economic growth at the millennium's turn. The two main driving
forces for economic globalization are the rapidly increasing importance of knowledge in all
forms of productive activities and economic restructuring.

Discussion 
Economic globalization is unstoppable and our inventions and other factors that influence
economic globalization will continue to change over time. According to the Cambridge
Dictionary, globalization is characterized as the "increase in trade around the world, particularly
by large companies manufacturing and trading goods in a variety of countries." Economic
globalization is “one of the three major aspects of globalization widely seen in scholarly
literature, with the other two being political globalization and cultural globalization, as well as
the general concept of globalization,” according to the Blackwell Companion to Globalization, as
it relates to the free flow of goods, resources, and money. Continuing with this topic, the Trans-
Pacific Partnership, or TPP, is an excellent example of economic globalization. The TPP trade
agreement seeks to encourage trade expansion, industrial development, job creation and
retention, higher living standards, and poverty reduction in the participating countries, as well as
good governance and openness between the countries that signed the agreement.

Conclusion 
The summary of economic globalization concepts and metrics reveals a distinct dynamic of
emerging developments. Globalization was made possible by national actions, macroeconomic
agendas, and developments at the start of this wave of globalization. Nowadays, economic
globalization has its mechanisms and engines, like global value chain of production, people’s
preferences to travel abroad, internet access, mobile communications, and consumers preferences
for global brands, all related to microeconomic decisions and behavior. In this context, the
globalization literature and research will explore new mechanisms, causes and effects in the
future.

Comments 
Economic globalization is irreversible, and it makes people all over the world flourish at the
same time. When time passes, we will be unable to stop globalization because it provides us with
many advantages.
Globalization of education

The term "globalization of education" refers to the global networks, processes, and institutions
that influence local educational policies and practices. "Worldwide" is the main term. Global
events have an effect on national and local education systems. Global educational programs and
activities arise above national and local schools in a superstructure. In this superstructure,
nothing is static. Although being affected by this superstructure of multinational education
structures, nations continue to have unilateral autonomy over their educational systems. In order
to succeed in the world economy, many countries today chose to follow strategies from this
global superstructure (Spring, 2014). Globalization has been used in both positive and negative
ways by different individuals in different contexts, according to Al'Abri, K. (2011). All examines
the topic from their own unique perspective and desires. Both theorists believe, however, that
globalization has had a massive effect on cultures at the fiscal, political, and cultural levels.
According to globalization literature, everything in this universe seems to be globalizing as a
result of the world's transition into a little town, an urban village. This ensures that boundaries
are no longer impenetrable obstacles to cross-national relations and integration. It is argued in
the literature that such impact of globalization reaches both developing and developed nations.

Reference:
Spring, J. (2014). Globalization of education: An introduction. Routledge.
Al’Abri, K. (2011). The impact of globalization on education policy of developing countries:
Oman as an example. Literacy Information and Computer Education Journal, 2(4), 491-502.

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