Globalization
Globalization
Globalization
NEGATIVE
Pandemics mainly target the world economy which has continuously lost
momentum as coronavirus infections surge again.
B. The pandemic has affected the economy in terms of demand and supply. First,
buyers and investors appear to lose trust in the economies greatly affected by the
pandemic which results to depreciation of the demand side of the market. Second,
absenteeism and decreased labor force negate the supply side and finally, public
health and the international response to pandemics have an adverse effect on
commerce, travel and health economics and development policies.
C. The pandemic’s impact on events and workforce. Events across the world were
cancelled since social distancing has been implemented when the COVID-19
pandemic broke out. An example is the 2020 Summer Olympics that is supposed
to be held in Japan and was rescheduled in 2021. Also, with lockdowns and travel
restrictions, the workforce is greatly affected as only 62% of the global
employment constitutes of an informal economy. These are people who lack
social security, benefits, access to healthcare or income security which is the most
vulnerable group during these times.
POSITIVE
A. The pandemic became an opportunity for us to unite and revive globalization.
Cooperation of all countries toward a particular goal will bring countries together
and make globalization soar faster and when everything is back to normal, make
globalization across countries and around the globe faster. The lack of Personal
Protective Equipment (PPE) ignited a wave of creativity as large and small
businesses and entrepreneurs started designing and manufacturing face masks,
face shields and ventilator parts to help address the shortage.
B. The pandemic spurred the rapid mobilization of scientists worldwide and has
fostered unforeseen global collaboration to create a vaccine. The World Health
Organization (WHO) developed a blueprint which has enabled a concerted and
rapid response to COVID-19, including a vaccine development program, research
into new pharmaceutical therapies and enhanced channels for information sharing
between countries and across the globe.
2. When religions grow more self-conscious about themselves as being world religions,
globalization stands for expanded and everyday interaction. Globalization lands
religions in tangled tensions that strengthen social identities by reducing the barriers
between various cultures. In the world, religion offers a sense of belonging to a
community. The complexities and assaults of the modern world have been sustained
by religion and are seen to be further exacerbated under the conditions of
contemporary growth. Religion has entered the “information age” and has globalized
at accelerating rates. It epitomizes the idea of globalization since it can be transmitted
more easily than ever before by the use of numerous technological instruments. It is
now possible for any religion to spread beyond national borders, allowing even small
religious movements to engage in activities abroad and leading to various unseen
religious developments.