Advantages and Disadvantages of Globalization in the Philippines

Topics: Globalization, Capitalism, Economics Pages: 7 (2439 words) Published: July 30, 2011
A Term Paper
Presented to:
Economics Teacher

As a requirement for the
Fourth Quarter in
Economics subject

Presented by:
Adrian R. Ocampo
March 2011

The researcher wanted answers to the following questions:
1. What is globalization? What are its concepts? What are its characteristics? How globalization did takes place? 2. What are the elements of globalization?
3. What are the types of globalization?
4. What are the agencies responsible for the globalization of the economy? 5. What are the effects of globalization in the world economy? What are the advantages and disadvantages of globalization? 6. What is globalization according to Filipino economists? What are its advantages and disadvantages in the Philippine economy? INTRODUCTION

In the world nowadays, our economy has been undergoing a major change in the face of the world economy. Our country has since been economically developed after several economic crises, and political, social and religious events through the test of time, and our economy during the colonial times up to the time of Marcos(except During WWII), our country has been one of the countries to have an advanced economy. But during and after the Martial Law era, our economy had been slipped up and succumbing it to economic collapse. Now, from the 20th century, our economy had been improving. Why? It is because of GLOBALIZATION. Globalization has been one of the reasons why our country had been economically recovered and developing, and most producers produce more goods and most consumers had been consuming more goods. Moreover, globalization also takes place with the development in technology and the growing business corporations and economic trade partners, and this had contributed a lot to globalization. Nowadays, globalization didn’t take its place in the Philippines, but also in many countries as well. Now, I’ll ask you a question. Have you ever gotten a chance to shop in a mall? What do you notice every time you enter one? Imported products in almost all brands are available in our very own malls. Almost all known establishments are found here. It’s also noticeable that people are increasingly getting fond of communicating via modern technology. These are made possible by the ever-growing number of huge telecommunications companies in the country. It is even easier to contact people abroad than to reach our relatives and friends in the far-flung provinces. Because of these new technologies in communication, we’re able to know in an instant the events taking place in the other side of the world through cable TV. Was it not through this that we immediately learned about the 9/11 event? Things were changing too fast, and a lot of them. Meanwhile, a lot of changes can be observed in the countryside: rice fields turned into subdivisions, golf parks, theme parks, and even cities. The rest of farmlands are reserved for the growth of fruits and flowers. But, what is more surprising is the massive importing of food for local consumption. There had been a lot of changes taking place not only in our country, but in the whole world, and this has been noticeable since the ‘80s, and it persists up to nowadays. These might be an offshoot of GLOBALIZATION. According to Chua and Gonzales (2005), although man has the capability to live on its own, man cannot remove the need to communicate with others in order to love and to be with. So, it is then when from being independent to become interdependent. It means that man has the capability to decide on what one must do, that has some consideration on the needs of others. Sometimes, if what we did...
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