Scribd
Upload
195 views5 pages

Argumentative Essay

Globalization has led to deeper economic integration between countries through increased trade, financial flows, and global value chains. While it has benefited large multinational corporations and the wealthy elite, its impact on inequality is complex - those in wealthier countries have seen little income gains, while emerging middle classes have benefitted. The Philippines in particular has experienced growing foreign direct investment and business process outsourcing that has boosted economic growth, but globalization also influences culture and political systems as countries become more interconnected.

Uploaded by

Jessica Cortes
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
195 views5 pages

Argumentative Essay

Globalization has led to deeper economic integration between countries through increased trade, financial flows, and global value chains. While it has benefited large multinational corporations and the wealthy elite, its impact on inequality is complex - those in wealthier countries have seen little income gains, while emerging middle classes have benefitted. The Philippines in particular has experienced growing foreign direct investment and business process outsourcing that has boosted economic growth, but globalization also influences culture and political systems as countries become more interconnected.

Uploaded by

Jessica Cortes
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 5

GLOBALIZATION AND INEQUALITY

Globalization is at the heart of many issues today, whether this is Brexit,


outsourcing, or China's expanding middle class. However, globalization is frequently
given too much credit for trying to change the world — and possibly far to much blame.
It is particularly true when it comes to global income inequality. A popular narrative
blames globalization for inequity, claiming that by shifting low-skilled jobs from richer to
underdeveloped nations, economic integration has enhanced disparities within countries
while decreasing inequality among both them. Globalisation is described as the
movement of products and services, people, capital, and knowledge across borders
(BIS (2017a)). The global economy has become increasingly linked, interdependent,
and entangled during the last half-century, as globalisation and liberalisation have
seemed to be an unstoppable and irrevocable trend. Regional trading arrangements,
the relaxation of trade and investment restrictions, and rapid technology advancements
have resulted in deeper economic integration and increased globalisation (Aldaba
2011). In terms of trade, finance, global value chains (GVCs), including migration,
emerging market economies (EMEs) have indeed grown considerably more closely
connected (BIS (2017b)). Global economic and political integration have not harmed the
Philippines or its people.

The people in the 80th percentile of global income (the poor and middle class of
the industrialised nations) have experienced little real income yield from globalization,
whilst many of the emerging worlds largest poor and middle class had also benefitted
immensely. At the same time, the global elite have consistently made significant gains,
whereas the 's wealthiest people have seen no expansion at all. Multinational
corporations operate on a global scale, with satellite branches and offices providing 24-
hour customer service. Western firms with office spaces in the Philippines may have a
strong competitive advantage over non-distant workplace counterparts. The Philippine
government's available tax rebates, rewards, as well as other advantages make it
simpler than ever to create an overseas office. It's no surprise that the Philippines is
home to a growing number of international organizations. The fastest growing region in
the country. It earned $8.9 billion for 2010, $11 billion in 2011, $15 billion throughout
2013, and is anticipated to achieve $21.2 billion in 2015. It is expected to be $25 billion
in 2016 as well as up to $28.1 billion for 2017. By now so, the area could have
surpassed the settlements that OFWs have customarily brought into the country,
accounting for an additional 10% of the country's GDP. Conditions that enable for this
kind of massive development and speed were also suitable for any BPO company to
exploit.

Political integration frequently indicates that powerful countries have political


clout within their economic bloc. China's purported involvement over the World Health
Organization's response to the COVID-19 outbreak demonstrates how a country with a
fragile economy can indeed be successfully pressured into implementing regulations
and laws that benefit more centered countries, basically turning the much more fragile
country flammable. The lawmakers' deferred response was thought to be due to the
CCP's chief general repeating the CCP's allegations about just the underpinning
incident in China. These claims led to a debate about just how conveniently a major
organization's regulations, including such WHO's, can be influenced by the interests of
some other country. In the long run, political integration should reduce the possibility of
clashes with dangerous actors and countries. Political allies, especially those with
exceptional abilities. Military and preserving powers are common roadblocks to an
equipped battle among states of a country. The North Atlantic Treaty Organization is a
clear embodiment of a meeting created to protect harmony, accurately because it may
assist in advancing financial recovery.

To conclude, global political and economic integration benefits everyone around


the world. The Philippines as well as its people Trade is getting better, and capital flow
from international firms is ramping up, boosting renowned growth. It increases future
pleading and thus boosts the economy. Multinational production results from economic
globalization, as well as financial capital flows freely between countries. It strikes a good
balance between industrialized and developing economies and has an impact on the
culture of the country. Countries communicate political ideals including such human
rights as well as liberal democracy. There have been some financial difficulties. The
country is undergoing globalization as well as political union.
References

Aghion, P., N. Bloom, R. Blundell, R. Griffith, and P. Howitt, 2005. Competition and
Inno-

vation: An Inverted-U Relationship, Quarterly Journal of Economics, 120:2, 701-728.

Bellettini, G., and G. Ottaviano, 2005. Special Interests and Technological Change,
Review of Economic Studies, 72, 43-56.

Bhagwati, J., 1982. Directly Unproductive, Profit-Seeking (DUP) Activities, Journal of


Political Economy, 90:5, 988-1002.

Baumol, W.J., 1990. Entrepreneurship: Productive, Unproductive and Destructive,


Journal of Political Economy, 98, 893-921.

Columbia Law School. "Self-Sufficiency in the Economy." [Online] [Cited: June

19, 2020.] http://www2.law.columbia.edu/course_00S_L9436_001/North %20Korea


%20materials/3a.htm.2.

Gilsenan, Kathy. "How China Deceived the WHO." The Atlantic. (12 April 2020.).
https://www.the Atlantic.com/politics/archive/2020/04/world-health-

organization-blame-pandemic-coronavirus/609820/.8
Inquirer. Net. (2016). Top 5 reasons why multinationals are locating in the PH.
https://www.google.com/amp/s/business.inquirer.net/201841/top-5-reasons-why-
multinationals-are-locating-in-the-ph/amp

Look Upgrade. (29 November 2018).The Impact of Globalization in the


Philippines.https://lookupgrade.com/en/blog/english-the-impact-of-globalization-in-the-
philippines/

Lopez, EJ. "The politics of the ASEAN economic integration." The Manila

Times. (20 November 2014). https://www.manila


times.net/2014/11/20/business/columnists-business/politics-ASEAN-economic-
integration/142988/.

Magbanua, J.(n.d.). The Effect of Globalization on Philippine


Culture.https://www.academia.edu/23210225/The_Effect_of_Globalization_on_Philippin
e_Culture

Nordea. "Country profile Philippines (the)”. (19 June 2020).


https://www.nordeatrade.com/en/explore-newmarket/philippines/investment#:~:text=For
eign%20direct%20investment%20flows%20(FDI,the%20Central%20Bank%20of
%20Philippines.3.

Philippine Statistics Authority. "Foreign Trade Statistics of the Philippines - 2015".


(December 2020).https://psa.gov.ph/sites/default/files/Volume%20II%20-
%20EXPORTS_FTS%202015%20e-Book_as%20of%2005-02-17.pdf
Schumacher, Henry J. "Philippines: Part of international economic integration."
BusinessMirror. (08 December 2016).
https://businessmirror.com.ph/2016/12/07/Philippines-part-of-international-economic-
integration/#: ~:text=In%20addition%20to%20its %20membership, Organization%2C
%20World%20Bank%2C%20Group%20of.4.

Schaefer, Brett D. "The World Health Organization Bows to China." The Heritage
Foundation. (08 April 2020). https://www.heritage.org/global-politics/commentary/the-
world-health-organization-bows-china

Trading Economics. "Philippines Foreign Direct Investment. Trading Economics. (09


June 2020). https://tradingeconomics.com/philippines/foreign-direct-investment.5.

You might also like