The Effects of Globalization in the Philippines

From the creation of the Silk Road to the invention of boats and railroads, globalization has proven to be a staple in economic culture. The engagement of international trading has been ongoing for centuries. Globalization becomes more critical as the world advances, as it interconnects the economy through business and technology. Without a doubt, globalization is an important constituent in the world economy and will continue to be so long as economic interactions between different nations endure. International trading and the internet are two important components that drive globalization, heavily impacting developing countries such as the Philippines. Countries able to adapt to the impacts of globalization can take advantage of the many opportunities it has to offer. However, social and economic disparities between other countries terrorize employment and social progress. Globalization is a heavily controversial topic because of its ability to either serve as a substantial benefit to a country’s economy, or do the complete opposite and cause it to decline further.

The Philippines is one of the many developing Asian countries affected by globalization. Since World War II, the United States has had a strong influence on the Philippines, a very poor country. As a result, the Philippines have had to deal with the rapid implications of globalization, which can be a very effective improvement and allow many positive changes for the economy. Hypothetically, there could be an increase in jobs in labor and exposure to Filipino companies to help the economy grow. The Philippines would be making positive progress; the country will have much to look forward to in the future, as they rely on the agricultural world to make income. Some major crops include coconuts, fruits and vegetables, tobacco, sugar, and hemp. Exportation of these goods are what this country depends on each year. Although this may sound convincing to support the concept of globalization, the Philippines have been facing a number of obstacles with it.

This begs the question: Will the Philippines truly benefit from globalization? Since the country is rigged with political corruption and poverty has been increasing over the years, natives would argue that globalization has not posed any significant benefit. The nation does not trust the process of globalization since there are still economic problems. The vast majority of the population in the Philippines depends on the decisions the leaders make since they are the ones who can truly make a difference for their nation. More than half of the country lives in poverty, which leads to corruption since they cannot figure out how to reduce this ongoing problem. The newly appointed president, Rodrigo Duterte has shifted from his war on drugs to a focus on corruption since it severely affected the nation. President Duterte has hindered the freedom and democracy because of his death squads, which has crippled the economic growth and market. These death squads were President Duterte’s solution to fighting the drug epidemic, but actually caused fear rather than safety. Investors are very concerned about the economic and political future of the Philippines, especially because China needs a market for its manufactured products and the Philippines would be a prospective nation.

Globalization offers many benefits and opportunities that developing countries can gain from. Whether it may be reducing barriers with foreign nations by trading freely or by creating new markets, this process may sound enticing for a country such as the Philippines who have been struggling with countless issues over the years. However, globalization has served little to no impact on improving the nation. Poverty has been ongoing for years now and globalization has caused this problem to rise even more. A vast majority of Filipinos are working overseas to make any source of income to help their friends and relatives back in the Philippines. If globalization was the key to fixing the economy and poverty, then why are people providing for their families internationally? A factor for having a poor political and economic system in the Philippines is because of corruption. The future of the nation solely depends on the political leaders, but many of the government officials are corrupted. Even though President Duterte had transitioned from a bloody war with drugs to corruption, he actually caused more disruption to this issue by throwing thousands of officials into jail or an island filled Islamist militants and kidnappers without any proof of corruption. Globalization has many negative effects to the Philippines, which raises an issue if this process really does offer any favorable benefits for developing countries.

Source by Manny Billones

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