CREATING

A. Guide Questions:

1. Why is the study of globalization termed, historical globalization?

The study of globalization is called historical globalization, because it is the

historical process which makes the world interconnected. This is made possible in
particular by trade and economic policies that facilitate the transfer of products and
ideas among nations. Since people may now trade on social media, the world has
become more connected economically throughout time as a result of global economic
activity. The phrase has become widely used to refer to technology developments that
have made it simpler and faster to conduct international trade and financial activities.
It alludes to an expansion of the same market forces that have existed for centuries at
all levels of human economic activity, whether they are village markets, urban
enterprises, or financial hubs, across national boundaries.

2. Explain the roles of international financial institutions in the creation of a

global economy.

International financial institutions (IFIs) have a significant impact on the

social and economic development plans of countries with emerging or transitional
economies all over the world. This position entails providing advice on development
projects, funding them, and helping to put them into action. Institutions shape the
frameworks within which economic exchange takes place and have a significant
impact on the economic development of nations. They also have an impact on
society at all levels. They decide how many encounters are possible, what are
gained by economic transactions, and what form they can take. They contribute
vital resources such as money, information, and partnerships; they manage risks;
and they encourage others to get involved. They encourage the kind of
entrepreneurial projects that aid developing nations in achieving long-term
economic progress. Central banks, retail and commercial banks, internet banks,
credit unions, savings and loans associations, investment banks, investment
businesses, brokerage firms, insurance companies, and mortgage companies are
some of the main kinds of financial institutions. Institutions also play a significant
role in the redistribution of wealth in the economy; they ensure that resources are
allocated effectively and that the weak and those with little resources are
safeguarded. By offering justice and policing systems that follow a similar set of
laws, they also promote confidence.

3. What are the attributes of global corporations?

A global corporation won't operate everywhere in the globe, but it will have the
strategic resources to do so. Most importantly, it will seek to maximize profits globally.
Global corporations are often big, multinational businesses with extensive global
influence. These groups have the authority to decide what occurs in our society and
economy. Since they frequently have no one to answer to except themselves, they
can be considered to be distinct from the rest of society. They are not ultimately under
the control of any one person or organization.
 4. Do global corporations do good or harm? Cite examples.

Global corporations do good since it maximizes earnings globally and, most

crucially, has the strategic resources to operate on a global scale. Corporations'
contributions to society might still be driven by a desire to make money. One of the
benefits of global corporations is you can increase your customer base. Your
consumer base grows when you expand your firm into another nation. There can be
many similar goods on the American market. However, you might discover that this
isn't the case in another nation. That can offer your business the chance to grow.
What is routine to your American customers could be novel to those in another nation.
Example of that is the Coca-Cola company, which was trying to make ends meet in
1886. By the time of World War II, Coca-Cola had proudly held its price at 5 cents for
50 years, making it affordable for a large number of people. The business would only
charge 5 cents per bottle for its beverage to American soldiers stationed all over the
world. Currently, more than 200 nations around the world sell Coca-Cola products.
The Coca-Cola business not only distributes its well-known carbonated beverages like
Coke, Fanta, and Sprite but also almost 3,800 additional items, such as
vitamin-enhanced soy beverages. The business will make sure that it only offers
goods that complement the community's tastes and culture. This frequently entails
Coca-Cola having to develop totally new goods to suit the demographics of a market
or altering an existing product to appeal to people in a certain area. You may have
caught on to this. Because such goods were developed for that country or were
altered to fit that country's preferences, some Coca-Cola products are accessible in
some countries but not in others.

B. Journal Writing: Write your short reflection or insights from the topic discussed.

Market integration has a number of positive societal effects, including enhancing

competition in the financial services industry and expanding the range of investment
choices and financial services available to consumers. Integrated financial markets also
serve as confidential risk-sharing mechanisms that help domestic countries' financial and
economic cycles run more smoothly. Market integration also makes it possible to diversify
risks further, which helps to improve risk management and financial stability. Certainly,
regulation facilitates market integration in a very significant way. Strong incentives for
cross-border financial activities and operations may be provided, in particular, by the
uniformity of requirements placed on globally active firms and the homogeneity of
financial regulation across jurisdictions. The IMF and World Bank, and the Bretton Woods
Institutions, are crucial to improving how globalization operates. They were established in
1944 to encourage worldwide economic cooperation and aid in restoring and maintaining
the advantages of global integration. When multinational corporations invest in a nation,
job possibilities are produced. They explain how rising incomes and spending stimulate
growth in the economy of the host nation. As new equipment is introduced into the host
nation, workers also profit from technological transfer.
C. Venn Diagram: Complete the graphic organizer below by supplying the

differences and similarities of the identified global corporations.

UPLOADING

FILM VIEWING

Watch the film, The Corporation directed by Mark Achbar and Jennifer Abbot. Write a film

review or reaction paper with the aid of the guide questions. Properly cite references

when you use facts and opinions that support your claims.

What is your general impression of the film?

What is the general storyline of the movie?

Who are the actors who play major

characters?

What are the strengths of the film? What about the weaknesses? What evidences prove

these in relation to your opening paragraph.

What is your final message to the audience in relation to your

introduction? Will you recommend the film? Why or why not?

This 2003 documentary suggests that if companies are persons,

then their conduct most closely mimics that of psychopaths. The

Supreme Court cited the same provision that forbade slavery as

justification to proclaim corporations to be "people" in the 19th century,

following the Civil War. The impacts of multinational corporations'

unrestrained power on individuals, society, and the environment are

covered in great detail, as are their efforts to limit people's access to

knowledge and privatize resources like water and even life itself. The

development of corporations over time and the efforts of people who

have fought against their enormous influence are both covered in

detail. The actors who played the film are Mikela Jay, Rob Beckwermert,
Christopher Gora, Nina Jones, and Richard Kopycinski.

The movie focuses on a few specific instances where businesses have

caused harm, such as child labor, poor pay, deceptive advertising, the

consumption of unhealthy foods, and environmental harm. Anyone

concerned about the immense impact that multinational businesses

have on virtually every aspect of our lives must watch the

documentary the corporation. Sweatshops, child labor, environmental

destruction, product marketing to children, restrictions on people's

access to information, privatization of the most basic resources even

the most basic components of life itself as well as the at times

shocking history of many corporations' relentless pursuit of profit and

"the bottom line" are all covered in great detail. The Corporation does

provide the perspectives of those who disagree with the

documentary's main tenets, despite being unmistakably on the side of

those who consider corporations as terrible organisms that are ruining

the earth. It's not all bad news either; people from all across the world

who are concerned about how businesses affect their communities

and natural resources tell about how they were able to defeat

influential multibillion-dollar interests. The Corporation was initially

published in 2003, and it is still just as relevant if not more than it was

before. I would recommend this film since the documentary presents

the facts and data in a captivating way and supports its claim with

interviews and old film. As a result, the movie presents a compelling

and instructive argument. This documentary is lengthy almost two

hours but it is also fascinating and educational the entire time.