Some of these advantages of globalization are: 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.
Why globalization is important in the Philippines?
Evidence suggests that globalisation has a positive effect on the country’s economic growth and employment. In particular, trade openness and foreign portfolio flows have contributed to higher per capita GDP growth in the Philippines, following the implementation of FX liberalisation reforms.
How can globalization help the Philippines?
In the Philippines, globalization has brought many job opportunities to all Filipino people. At present globalization is more effective in the Philippines, it helps to improve the local and foreign companies, the culture, the education, and the development of the economy. …
Why do we need globalization?
Globalization allows companies to find lower-cost ways to produce their products. It also increases global competition, which drives prices down and creates a larger variety of choices for consumers. Lowered costs help people in both developing and already-developed countries live better on less money.
Why is globalization bad for the Philippines?
The widening of the gap between the rich and poor people, a result of globalization, puts the Philippines deeper in the quicksand of poverty and also causes social injustices among men. The deprivation of jobs and resources from its own citizens causes the people to die unattended.
What is Philippines in terms of globalization?
After the Philippines joined the WTO, World Trade Organization, there has been several opportunities for other countries to trade and create work for those in the Philippines. … This is considered an example of globalization because it opened the economy to foreign trade and policy.
How did globalization affect Philippine education?
Answer: the globalization has changed the Philippines old system of education into the K- 12 Basic Education Program. … However, it is with certainty that a poor elementary education will lead to a failure in basic education no matter what century.
What are the Filipino qualities?
Filipino Traits and Characteristics
- Hospitable. This is one of the most popular qualities of Filipinos. …
- Respectful. This is often observed not just from younger people but also from older ones. …
- Strong Family Ties and Religious. Yes. …
- Generosity and Helpful. …
- Hardworking. …
- Loving and Caring.
How does globalization affect us?
Globalization affects you and me by giving people broader access to products and services, decreasing subsidies and tariffs, creating new opportunities for financial markets, giving national industries more access to international markets, and connecting national economies.
What are disadvantages of Globalisation?
What Are the Disadvantages of Globalization?
- Unequal economic growth. …
- Lack of local businesses. …
- Increases potential global recessions. …
- Exploits cheaper labor markets. …
- Causes job displacement.
How does globalization help the poor?
Economic growth is the main channel through which globalization can affect poverty. What researchers have found is that, in general, when countries open up to trade, they tend to grow faster and living standards tend to increase. The usual argument goes that the benefits of this higher growth trickle down to the poor.
Why is globalization not good?
Here are more disadvantages: Globalization is a threat to national and local economies. Global companies coming into emerging and developing nations have the tendency to impose their ways, practices, and culture onto the target nations. It can lead to the implementation of foreign concepts and ideas.