Question

Globalization of the world’s economy continues to have positive and negative consequences, depending on one’s perspective.

Answer 1

Answer:

A. Globalization is the spread of technological advances, communication, and economic production from one culture to another.

B. A significant economic impact of globalization in Japan would be the collapse of their (previous) well-entrenched system of lifetime employment. Due to the lack of economic growth and failing markets, 1990s Japan was forced to reform the original Japanese labor model, and the integrating of American-style economic principles. Positively, this impact promoted the accumulation of capital, upgrades to the industrial structure, and technological advancements. Negatively, this impact affected the successful labor model that was followed before the globalization occurred.

C. An example of cultural impact of globalization in Germany would be that the country benefited greatly from higher flows of people and ideas. The people and ideas led to making slight changes in traditional religions and belief systems. They also began changing work ethics and rhythms that were to be followed. This impact may be viewed positively by having people work in better time frames and in safer environments. It may be viewed negatively by changing the traditions and belief systems some people were raised to believe for years. Sometimes people just do not want to see change in that aspect, they are so firm in their beliefs.

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Explanation:

Answer 2

Answer:

A. the act or process of globalizing : the state of being globalized especially : the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets.

B. A example is Vietnam, where globalization has contributed to an increase in the prices for rice, lifting many poor rice farmers out of poverty. This is viewed a positive impact.

C. Cultural globalization has created unparalleled inequity throughout Africa, affected the behavior of people in numerous ways, and forced many people to assume a lifestyle of self interest, selfishness, individualism and made people to develop a psychopathic devotion and appetite for foreign films, foreign goods, foods, foreign way of life, foreign music, attitude and behavior. This is a viewed negatively.

Explanation: