Globalization / Deglobalization? - April 2018
Updated: Dec 19, 2018
DR. AARON LOH ABAC GSB MBA LECTURER
Dr. Aaron Loh has been with ABAC for 11 years. He uently speaks both Mandarin and English. He retired from doing business to teach at ABAC. His current career position has been shifted from teaching to monitoring the students. Being our guest speaker in this session was his privilege and honor. Globalization started more than 100 years ago by doing business outside of the country. Exploring and conducting business and trade in other countries is about making products and services at the best quality and price. It is also about diversity of global citizens to produce safe and quality products and services in order to survive and increase the quality of life.
World Trade Organization (WTO) has encouraged people to do business and follow WTO rules.
Positive things are that globalization can globally reduce people’s poverty that they can purchase good quality products and services with good deal or affordable prices. People grow their business, not just only making pro t but also offering improved quality products and services. For example, in the past, people used an electric fan to cool hot weather. Currently, they use an air – conditioner.
In business game, there are two parties, if any party loses, the assets will be shifted, like playing Monopoly. People of both parties do not lose their life even though it is a zero – sum game.
Negative things can be happened when any party does not follow WTO rules by increased tariff with disagreement of the other party and made the other party’s products and services more expensive to be imported. The unfair trade practice may lead to cutting reasonable prices, making the products and services of the other party uncompetitive. The guest speaker expressed his kind concern about these negative aspects, because people would like to deglobalize. Moreover, WTO will mostly likely intervene these negative situations to prevent these undesirable effects spreading globally. Our students are kindly requested to do business by following WTO rules and learn new things from different perspectives by offering innovative and user - friendly products and services to maximize safety and quality of life.