Globalization In Philippines Flashcards
How did the Philippines begin its Globalization?
The Philippines begun its globalization when it signed agreements with intergovernmental and foreign entities and pursued relations with them.
List some pros and cons of Globalization and explain them
Pros
Peaceful Relations - Countries pursue active relations with one another for development
Employment - As more companies move in, job opportunities increase
Education - Opportunities abroad are made more accessible to Filipinos, including education in order to pursue a better life
Product Quality - Companies pursue a standard of quality to keep consumer satisfaction
Cheaper Prices - Fierce competition in free market results in cheaper prices for consumers
Communication - The internet and latest technology allows Filipinos to connect with others abroad and spread ideas and exchange.
Transportation - Businesses demand facilities to conduct their activities, hence, infrastructure such as ports, bridges, etc. promote greater connectivity and play a big role in a free market
GDP Increase - More goods and services with greater value are produced
Free Trade - Trade free of restriction means goods and services cost less
Travel and Tourism - Increased contact and better relations between countries result in influx of tourists
Cons
Health issues - Greater connectivity means greater spread of disease and health risks
Loss of culture - People forget about their own culture as they receive/exchange new ideas
Uneven wealth distribution - Globalization creates better avenues for profit for those who run corporations thanks to expansion
Disparity - Companies relocating may cause displacement of jobs in the country they are leaving, and a boom of jobs in the country they are moving to
Cut throat competition - Fierce competition has minimized the chances of the domestic market’s chance for growth
Conflicts - Terrorism and other means of violence opposing globalization.
