Introduction

The discussion focuses on “Globalization”. It also includes the Worl Trend in

Globalization, Financial Flows, Foreign Direct Investment & Multinational Enterprises,
Labor Migration, Role of International InStitution, How has Globalization Affected
Philippines, How would Philippines Cope up with Globalization, Information
Technology and New Economy.

Analysis
Globalization is the ongoing economic, social and political integration of economies
around the world that has taken place since World War It is the spread of products,
technology, information, and jobs across national borders and cultures. It is the
process by which businesses or other organizations develop international influence or
start operating on an international scale.
International trade is the exchange of products and services from one country to
another. It has an important share in GDP in different countries.
There has been enormous volatility in financial flows that fall under the description of
short tern capital/financial flows.
This kindnof investment brings overseas funds into a country for investments in
manufacturing services. FDI is closely tied to the fortunes of multinational firms, and
both have grown rapidly in the last thirty years.
Labor migration is for the purpose of employment. Scope for greater economic
opportunity, political and religious freedom, ease of migration and others. Some
countries have been both significant importers and exporters of labor.
Role of international intitutions is to help manage the process integrating the
developing economies in the world economy. Proved countries the information and
lowering transaction cost. ASEAN accelerate the economic growth, social progress
and cultural development in the region. AFTA increase competitive edge as a
production base in the world market through the elimination, within ASEAN, of tariffs
and non tariff barriers. UNCTAD promote international trade between developed and
developing countries, formulate policies on ibternational trade and related provlems of
economic development. IMF, helping member countries modernize their countries,
overseeing the evonomies of member countries, lending to countries with balancw
payment issue.
Globalization affected philippines in the further decrease in some of the older filipino
traditions. Rise of business process outsourcing to the Philippines. Consumerism
Mentality. Filipino medical professionals and other to work in the USA, Europe, and
the Middle East. Free trade and increase jobs.
Philippines cope up with globalization through country’s planners and policymakers
must always be open to change as the increasingly integrated global economy is here
to stay. New work world older, enhance innovation, create culture of science, invest in
education.
New economy refers to the development of a knowledge based economy in a new
business environment, the introduction of innovatives systems, human resource
development and intensive use of information and communication technology.

Conclusion
After the discussion above i have realize that globalization has a major impact in the
economy of the countries. Through globalization the information can faster flow,
increase in quality of goods and services as a result pf globalization people have
access to the best quality of goods services throughout the world. Globalization can
also increase free trade, free tade has opened doors for incestors in developed
countries to invest their money in developing countries.