Jhezzarie S.

Doneza BABR 1-1

The Philippines is a country of ups and downs . But most of the time, many of us
us experience devastating poverty, hunger and suffering. Philippine economy is
basically agricultural, with rice, corn, and kamote (sweet potatoes) the staple food
crops. And these hindrances affect our economy. And truly, globalization has offered
controversial impact in the state.
According to Villanueva (2010), The ever-changing issues of poverty, hunger,
and suffering in the Philippines poses as a hindrance to their economy. However, their
reliance on the agricultural sector allows them to resolve these issues and keep them
minimal. In fact, two thirds of the Filipino population depends on the agricultural sector.
In addition, the Philippines has an abundant amount of natural resources due to their
foreign trade with other countries and their contribution of exports. The combination of
the agricultural sector and abundance of natural resources helps the Philippines have a
successful economy because this balance allows them to both receive and give away
resources. With their reliance on the agricultural sector, their contribution of exports
involves fruits and vegetables. The export of fruits and vegetables, especially pineapple
products and bananas, plays a key economic role every year. This interdependence is
economic because the foreign trade between countries benefits the overall economy.
With the idea of natural resources of the Philippines, this country can produce
many resources such us minerals like copper, gold, nickel, chromium, iron, and
manganese. These minerals are essential due to the growth in the mining industry and
the fact that mining will continue to be an important element in sustainable life. Although
the production of minerals is beneficial to the economy, it acts as a hindrance to it as
well. Gold mines, in particular, cost a significant amount and are not considered as a
negative aspect of the economy. The rapid growth of globalization is actually having a
negative effect on the Philippines because they are unable to keep up with these vastly
changing expenses.
Economic Watch 2010 stated that the total value of imports of teh Philippines
surpasses the total value of exports. With the total value of imports being $59.9 billion
and the total value of exports being $50.72 billion, this $9 billion difference definitely
benefits the economy. This discrepancy benefits the economy because the Philippines
is receiving more goods rather than losing goods through exports. Their primary exports
include semiconductors and electronic products, petroleum, transport equipment,
garments, copper products, coconut oil, fruits, and vegetables. These exports are
mainly sent to the United States, Japan, Netherlands, Hong Kong, Germany, China,
Singapore, and South Korea. Contrastingly, the major goods the Philippines imports
from other countries are electronic products, mineral fuels, machinery and transport
equipment, iron and steel, textile fabrics, grains, chemicals, and plastic. Most of our
import partners are the same as our export partners; however, we import goods from
Taiwan and Thailand as well.
 Philippines have four regions that globalization has targeted and these four are:
liberalization, mobility of capital, technology, and management of organization through
private and public sectors. Each of these factors has been in its own way force
throughout the worldCapital now moves according to the dictates of markets, not of
governments. With its great confidence on joining the WTO, the Philippines are still
lagging behind its Southeast Asian neighbors in terms of economic performance.
Whereas, the Philippine economic growth was second only to Japan ’s in the 1960’s.
But when the nation joined the WTO in 1995, the Philippines had entered the global
economic game with its domestic political economy unprepared and undeveloped. As a
result, the Philippine state has failed to create the kind of organized socioeconomic
environment that would have prepared the country for global competition. There are
many things that globalization that brought quick changes into the Philippine society.
With its vast development it has brought about technologies mostly computers and
software and also telecom companies are being introduced into the market. Thanks to
globalization, such technologies were influenced by Philippines neighboring Asian
countries like Malaysia and China , and even Japan . Thanks to globalization, it has
opened its economy to foreign trade and investment. Furthermore, globalization has
allowed Filipino workers to travel the world, but most head for the Middle East, East
Asia, the US and Canada and Europe due to better economies and better money.
Filipinos working overseas numbered more than three million - about 10 percent of the
labor force. The total number of overseas Filipinos may be as high as eight million,
according to the government.
The Philippines, in its desire for development, embraced the World Trade
Organization and its magic call for open markets and trade liberalization. However, we
have fallen prey to the system's more "deleterious effects" the widening of' income gaps
among countries and the displacement of developing countries in the global market.
Globalization has created winners and losers3 /.losers mostly in the developing
countries, like the Philippines. The importation of foreign goods has changed the
consumption pattern of the Filipinos creating the massive problem of solid wastes. The
shift from traditional agriculture to expon products and the fast-tracking of industrial and
energy development have affected our social, economic, and physical environments.
From a food sufficient country in the early sixties, the Philippines has been transfonned
into a grains-deficit country, particularly in the last two decades as transnational
corporations and big agribusinesses for export products have taken over the agricultural
sector. Lack of employment in the country has also forced quite a number of our people,
both men and women, to leave their families and work abroad.
References:
Essays, UK. (November 2013). Has Globalization Destroyed The Nation State Politics
Essay. Retrieved from https://www.ukessays.com/essays/politics/has-globalization-
destroyed-the-nation-state-politics-essay.php?vref=1
Asianetwork. (2002).Globalization:Its Impact on the Philippine Environment Essay.
Retrieved from http://asianetwork.org/ane-archived-issues/2002-spring/anex2002-
spring-alerta-lim.pdf
Weeblyblog. (October 2014). Globalization in the Philippines. Retrieved from
http://afranke1philippines.weebly.com/blog/globalization-good-or-bad
Hubpages. (August 2016). Globalization in the Philippines:Good or Bad. Retrieved from
https://hubpages.com/politics/Globalization-in-the-Philippines
Philippine State and Economy. (May 2008). The Adverse Effects of Globalization in the
Philippines. Retrieved from
http://philippinepoliticsandeconomy.blogspot.com/2008/05/adverse-effects-of-
globalization-in.html