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Contemp. Assighnment 2

The Philippines lags behind in economic globalization due to limited connectivity of Filipino businesses to international trade and the low value of the Philippine peso relative to other currencies. This forces many Filipinos to work overseas (OFWs) where they help develop other nations' economies rather than the Philippine economy. While outsourcing to the Philippines provides some benefits, it also allows other countries to develop their economies using Philippine economic activities and resources. International organizations like the UN, ASEAN, World Bank, and WTO help the Philippine economy through technical assistance, loans, facilitating international trade, tariff reductions, and other commitments that promote economic development.

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Roberto E. De Leon
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260 views2 pages

Contemp. Assighnment 2

The Philippines lags behind in economic globalization due to limited connectivity of Filipino businesses to international trade and the low value of the Philippine peso relative to other currencies. This forces many Filipinos to work overseas (OFWs) where they help develop other nations' economies rather than the Philippine economy. While outsourcing to the Philippines provides some benefits, it also allows other countries to develop their economies using Philippine economic activities and resources. International organizations like the UN, ASEAN, World Bank, and WTO help the Philippine economy through technical assistance, loans, facilitating international trade, tariff reductions, and other commitments that promote economic development.

Uploaded by

Roberto E. De Leon
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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THE CONTEMPORARY WORLD

1B FILIPINO
ROBERTO E. DE LEON

PROCESS QUESTIONS

1. How do the factors that facilitate economic globalization affects the economy of
our country?

The world economic provide more options to help every nation in terms of its
economic growth. The country Philippines is one of the most slowest nation when it
comes to the economic development process. In addition, the progression of
globalization economy have cons effect to our home nation, and one of the reason is
the lack and limited connectivity of every Filipino trade owners, businessman and etc.
outside the country to make free trade that gain economic growth and broad
influence. The second and last factor that I see is the low value of Philippine money,
contrast to the other nation it has a double or triple value of capital that become a
cause of having OFW. They are not satisfied to the Philippine economy. To the
benefit of others, OFW are utilize by other countries to gain and develop the
economic growth of their nation. In summary, the Philippines is lagging behind when
it comes to the global economy.

2. Do you think that the Philippines is harmed as other countries transfer their
activities to us through outsourcing?

In directly answer, I agreed that Philippines got harmed by other countries


when it comes to their way of economic activities inside of our nation. In clarification,
other countries gain economic development changes by taking economic activities to
our home nation. In other words, it is a kind of theft with permission of owners. If we
can see, the Philippines is now full of foreign persons not only to live but just for a
reasonable factor which is to grow the economic of their home town by sharing and
taking an economic activities in our country. Even though our nation has benefits to
that certain issue, we can’t hide that in our own country, we are gradually manage by
some of foreign persons. So in summarization, in that case we got harmed by others
but with permission.
3. In what ways do the international organizations help our country’s economy?

In a very well condition, I assist my self to browse an specific information in


widely internet. According to the OAS organization website, The Philippines belongs
to a number of international organizations, including the United Nations; the
Association of Southeast Asian Nations (ASEAN) Regional Forum; Asia-Pacific
Economic Cooperation forum; the International Monetary Fund; the World Bank; and
the World Trade Organization among others. In contribution matters, from the past
few period, the UN has brought normative policy support, technical assistance and
advocacy that we currently use to earn money and get an ability about something. In
other side, the ASEAN contribute as partnership of the Philippine country to the way
of implementing the largest single market economies in the world which is facilitating
the free movements of goods, services that give a brad opportunity to have an
international trade. At the next, the WORLD BANK give their contribution as also
partnership in our nation which the main aim is to help financial assistance and give
loan to the government. The PANTAWID PAMILYA PROGRAM is one of the result of
of their partnership that favorable on Philippine community side. At the last, the
WORLD TRADE ORGANIZATION help the Philippine economy by significant
increase in tariff bindings, extensive tariff reductions, elimination of quantitative and
other non-tariff measures, and commitments in many services sectors. In over all, the
Philippines have the various partnership for economic assistance.

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