Reading Assignment 4: “economic globalization” -YUE JUNTONG

 The relationship between the economy and globalization is close and inseparable. I think that on the issue of globalization, political globalization is the skeleton, which is the basis of globalization. Without political mediation, there will be no soil for globalization. Cultural globalization is skin, a kind of recognition of other countries, a channel of communication, and the spread of a country's image. Economic globalization is blood. Although its status cannot be compared with political globalization, its importance exceeds cultural globalization. Economic globalization is an act of bundling, allowing each country to perform its duties and assume an international division of labor under the arrangements of the hegemon. The best representative of economic globalization is the US dollar. The liquidity and value preservation of the US dollar perfectly interprets the concept of economic globalization. A banknote can be exchanged for local currency in any country in the world. What a great achievement. At the same time, the WTO also plays a major role in promoting economic globalization. The WTO allowed many small countries to obtain valuable loans and trade qualifications, leaving a glorious legacy in the 20th century. Why didn't I say 21st century? Because the Shimao organization has forgotten its original intention and is gradually being manipulated. The economy is the lifeblood of globalization and also the goal and benefit of globalization. Globalization can obtain more resources and more markets, allowing the country's economy to advance by leaps and bounds. Therefore, to develop the country's economy, many countries have begun to use political actions to protect the country's economic interests. If political mediation fails, then war will begin. So the economy is very important to globalization. However, the economic impact of globalization is too great, which is not a good thing. The economic crisis is the best example. Because of the existence of globalization, economic crises will spread from one country to the whole world, producing super destructive power, causing countless people to lose their jobs, become homeless, and even subvert national power. I believe that the economy is a double-edged sword for globalization. How to avoid the harm and enjoy the benefits it brings depends on the decision-making of each country.

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