Globalization Affects Philippine Economy

February 15, 2022 Post a Comment

The Philippines is a Third World country which is heavily influenced by developed nations like the United States. In the Philippines the goal of attaining sustainable development has been a primary consideration.

The Effect Of Globalization On Philippine Culture Juleos Magbanua Academia Edu

Globalization has offered considerable controversial impact.

Globalization affects philippine economy. I really liked the topic of globalization because it is a very complex yet very relevant concept today. The globalization for the areas of trade in the Philippine economy has proved to hold both pros and cons. Therefore global forces are often intended to achieve and directed towards achieving this purpose.

And like most countries which underwent the same process of liberalization to be part of the global economy the Philippines has started to experience the short-term adverse effects of globalization. As regards impact on Philippine economy globalization can increase economic prosperity. High levels of education Export-oriented agricultural sector that has generated more than sufficient foreign exchange Because of the industrial sector growth the Philippines has one if the highest per capita incomes in Southeast Asia.

The average cost of goods is a key aspect that contributes to increases in the standard of living. Also when in terms of Filipino who work abroad there are many Filipino workers who have faced many problems and are. I believe that globalization will make its impact in the Philippines because the whole society relies on westernization due to globalization.

Some of these advantages of globalization are. The disadvantage of Globalization. Globalisation trends in the Philippines The Philippine economy like that of most other EMEs has become increasingly integrated with the global economy.

This is evident in the general increase in trade in goods and labour migration. Globalization may have affected it positively in some ways but a huge chunk of its effects has been leaning to the detriment of the Filipinos. One effect of globalization to the Philippines is the lack of Filipino traditions and values that most younger Filipino.

Abstract Globalization can be both negative and positive. Quoting Go president of the Philippine Migration Research Network PMRN on findings from Surveys on Overseas Filipinos SOF by the National Statistics Office Opiniano writes that the economic benefits of international labor migration have not trickled down to the poor and less developed regions in the country Opiniano 2002. Globalization can make the Philippines into a better nation if the Philippine leaders to make their economy more advance through global trading and allowing more foreign investors to the help boost the economy.

Global trade and the Philippine economy Much talk has been made recently about rising trade tensions putting a hamper on global economic growth among businessmen and financial experts. Pros being that the trade openness has created a security and alliance with the worlds leading countries. While globalization is expected to positively affect the economy in the long run it would also entail painful adjustments in the short-term.

This means that companies can offer goods at a lower price to consumers. In addition the surpassing value of imports compared to exports shows that the Philippines receives more resources than they lose. It will usher increase in technical efficiency and reap economies of scale with the building of infrastrucures to sustain competion and growth.

The alliance with said countries has secured the Philippines inflow of foreign aid to ensure the building of developmental projects. The Effects of Globalization in the Philippines As defined the term globalization refers to the development of an increasingly integrated global economy marked especially by free trade free flow of capital and the tapping of cheaper foreign labor markets. In general globalization decreases the cost of manufacturing.

All country and State open its market with minimal or without any restrictions. The aim of globalization is the growth of the global economy by giving firms a superior competitive position with lower cost through free trade and by increasing the number of consumers products and services. Last week the Philippine Institute for Development Studies PIDS sponsored a conference held at the Sofitel Hotel in Manila on the new globalization.

There is also greater integration in finance albeit at a relatively moderate pace. The Adverse Effects of Globalization in the Philippines Most modern economist called this World New Economic Order that is all States in the world bend themselves to promote free flow of the economy. Their balance of imports and exports has strengthened their economy.

Increased participation of our country in the world economy will foster domestic economic growth and prosperity. The Effect of Globalization on Philippine Culture This was the speech I delivered in our speech communication class as a final req uirement. Globalization has had more positive effects than negative effects in the Philippines.

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 in developing economy. Philippines is one of the countries in Asia where the country has been effected by globalization. Finally the major effect of globalization is produced in the world economy.

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