Today, it would be difficult to find a community that has been unaffected by globalization, yet its effects are still unknown to many people. This paper is an attempt to bring the subject to the awareness of educators while particularly focusing on those in the Philippines. It is ironic that globalization on one hand has incited people all over the world to protest against it; on the other hand, it has drawn the world closer together. Various contradicting effects of globalization on nations all over the world, especially on the economic sphere, are presented in the early part of the paper, and then the specific impacts in the Philippine context are discussed. The latter portion of the paper discusses an attempt at reconciliation of the conflicts created because of globalization through global education or peace education.