STATEMENT A: Globalization is a term used to describe the changes in societies and the world economy that are the result of dramatically increased trade and cultural exchange. STATEMENT B: In specifically economic contexts, it refers almost exclusively to the effects of trade, particularly trade liberalization or "free trade".

STATEMENT A: It is a common belief that globalization plays a role just at international levels of trade and commerce, but the fact is that it has played an important role in making our lives much more comfortable too. STATEMENT B: The phones, apparels, gadgets or accessories that we use in our day-to-day life are be available to us through globalization.

STATEMENT A: The country is taking part in the process of globalization ever since the country signed agreements with World Trade Organization in 1995. STATEMENT B: Now, globalization is very effective in the Philippines, it has allowed major changes in the nation like more labor, and more Filipino and foreign companies has emerged in the nation in order to help the country’s developing economy.

STATEMENT A: Globalization can make the Philippines a better nation if the Philippine leaders make its economy more advanced through global trading and allowing more foreign investors to the help boost the economy. STATEMENT B: And by accomplishing those goals, the Philippines should be able to reduce the poverty level as well as increase labor force for job opportunities for those that are in need for a living.

STATEMENT A: The most effective factor in the Philippines is education. STATEMENT B: The society’s mentality is to be educated and it’s with education that people in the nation see their opportunity for a better life in the future.

STATEMENT A: One important view is that a global economic system, specifically a global capitalist system, emerged in about 1896 and reached something of a peak throughout the world in 1914. STATEMENT B: There are some interesting analogies between the growth of the global capitalist economy during that period and today.

STATEMENT A: During the earlier epoch, global progress was spurred by such developments in transportation as the railroad and the steam ship, whereas in more recent years it is the airplane that played a central role in that development. STATEMENT B: The telegraph greatly enhanced global communications in the early twentieth century, while it is the Internet that plays that role nearly a century later.

STATEMENT A: Global economic development, both then and now, depended on large-scale flows of capital. STATEMENT B: The development of economic globalization can be seen after WW II in the context of this prior epoch of economic globalization, as well as its collapse as a result of WW I, the Depression, and WW II.

STATEMENT A: In terms of the monetary order, it was the IMF that took center stage. STATEMENT B: The goal was to provide security, as well as flexibility, to the monetary order.

closer contact between different parts of the world, with increasing possibilities of personal exchange, mutual understanding and friendship between "world citizens",

"free trade" and increasing relations among members of an industry in different parts of the world (globalization of an industry), with a corresponding erosion of National Sovereignty in the economic sphere.

They also claim that increasing autonomy and strength of corporate entities increasingly shape the political policy of nation-states.

Supporters of free trade point out that economic theories such as comparative advantage suggests that free trade leads to a more efficient allocation of resources, with all those involved in the trade benefitting. In general, they claim that this leads to lower prices, more employment and better allocation of resources.

Most of the countries have resorted to trade relations with each other in order to boost their economy, leaving behind any bitter past experiences if any.

Companies are moving towards the developing countries to acquire labor force.

Globalization has brought in fierce competition in the markets.

the dawn of HIV/AIDS. Having its origin in the wilderness of Africa, the virus has spread like wildfire throughout the globe in no time.

It is said that the rich are getting richer while the poor are getting poorer. In the real sense, globalization has not been able to reduce poverty.

Developed countries are moving their factories to foreign countries where labor is cheaply available.

It was a system for the liberalization of trade that grew out of Bretton Woods and came into existence in 1947.

These involve intangible ideas, knowledge, and expressions that require their use be approved by their owner.

WTO agreement on trade measures governments can impose on foreign firms.

These are treaties signed by a number of states that establish global rules of conduct.

It is the collection of rules and regulations that define the rights and obligations of states