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Ngec 3

The document discusses the economic impact of globalization on developing countries, focusing on trade agreements and international policies that affect local industries and employment. It highlights both the benefits, such as access to global markets, and the challenges, including dependency on multinational corporations. The author reflects on the complexities of globalization, advocating for careful management to balance global integration with the protection of local identities.

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cherryskamian
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8 views1 page

Ngec 3

The document discusses the economic impact of globalization on developing countries, focusing on trade agreements and international policies that affect local industries and employment. It highlights both the benefits, such as access to global markets, and the challenges, including dependency on multinational corporations. The author reflects on the complexities of globalization, advocating for careful management to balance global integration with the protection of local identities.

Uploaded by

cherryskamian
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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PERERA, MILES STANLEY J.

BSMarE 2- ALPHA

The contemporary world

1. Assigned Part of the Topic

-In our assigned group report, I was responsible for discussing the economic impact of globalization on
developing countries. My section focused on examining how trade agreements and international
economic policies influence local industries and employment rates. I explored both the positive aspects,
such as increased access to global markets and foreign investment, as well as the challenges, including
the risk of dependency on multinational corporations and the loss of local businesses. This part was
crucial to the overall report as it provided a detailed analysis of the broader effects of globalization,
highlighting both the opportunities and the obstacles that developing nations face in the global
economy.

2. Important Points Learned from the Report

-From our group's report, several important points stood out to me. One of the main themes we
explored was how globalization affects cultural, economic, and social dynamics across different
countries. I learned that over 60% of global trade involves multinational corporations, which significantly
shapes cultural interactions and economic policies. The report highlighted that while globalization can
foster mutual understanding and cooperation between societies, it can also lead to friction and conflict
due to differences in values and practices. Personally, I gained a deeper understanding of the
complexities involved in balancing national interests with the demands of a globalized world.

3. Personal Critique of the Content

-After reflecting on the content of our report, I find myself agreeing with the general argument that
globalization needs to be managed carefully to balance global integration with the protection of local
identities and interests. I agree with the idea that there are significant benefits to globalization, such as
economic growth and cultural exchange, but I also see the risks of cultural homogenization and
economic inequality. However, I disagree with the notion that cultural globalization always leads to a
loss of local identity; in many cases, it can also lead to a renewed interest in preserving and promoting
local cultures. I believe this happens because globalization often brings different cultures into contact,
creating opportunities for both cultural blending and the strengthening of local traditions in response.

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