POWER POINT GLOBALIZATION, Slides of Advanced Macroeconomics

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GLOBALIZATION

NOVELYN PACE WENDELOU LAPE

OBJECTIVES;

DEFINE

GLOBALIZATION

TYPES OF

GLOBALIZATION

DISCUSS THE

ADVANTAGES AND

DISADVANTAGES

OF GLOBALIZATION

WHAT IS GLOBALIZATION? Globalization is the word used to describe the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.

GLOBALIZATION IN THE PHILIPPINES

• (^) The country is taking part in the process of globalization ever since the country signed agreements with World Trade Organization in
• (^) Now, globalization is very effective in the Philippines, it has allowed major changes in the nation like more labor, and more Filipino and foreign companies have emerged in the nation in order to help the country's developing economy.

Globalization can make the Philippines into a better nation if

the Philippine leaders to make their economy more advance

through global trading and allowing more foreign investors to

the help boost the economy. And by accomplishing those

goals, the Philippines should be able to reduce the poverty

level as well as increase labor force for job opportunities for

those that are in need for a living. However, since the

poverty level is still increasing, most Filipinos has managed

to find work overseas and they have managed to seek better

living than in the Philippines. The most effective factor in the

Philippines is education. The society's mentality is to be

educated and it's with education that people in the nation

see their opportunity for a better life in the future.

• Product Quality The product quality has been enhanced so as to retain the customers. Today the customers may compromise with the price range but not with the quality of the product. Low or poor quality can adversely affect consumer satisfaction.
• Cheaper Prices Globalization has brought in fierce competition in the markets.
• (^) Communication Every single information is easily accessible from almost every corner of the world.
• (^) Circulation of information is no longer a tedious task, and can happen in seconds. The Internet has significantly affected the global economy, thereby providing direct access to information and products.

• (^) Transportation Considered as the wheel of every business organization, connectivity to various parts of the world is no more a serious problem. Today with various modes of transportation available, one can conveniently deliver the products to a customer located at any part of the world.
• (^) GDP Increase Gross Product, commonly known as GDP, is the money value of the final goods and services produced within the domestic territory of the country during an accounting year.
• (^) Free Trade Free trade is a policy in which a country does not levy taxes, duties, subsidies or quota on the import/export of goods or services from other countries. There are countries which have resolved to free trade in specific regions. This allows consumers to buy goods and services, comparatively at a lower cost.

DISADVANTAGES

• (^) Health Issues Globalization has given rise to more health risks and presents new threats and challenges for epidemics. the dawn of HIV/AIDS. Having its origin in the wilderness of Africa, the virus has spread like wildfire throughout the globe in no time. Food items are also transported to various countries, and this is a matter of concern, especially in case of perishable items.

• Loss of Culture With large number of people moving into and out of a country, the culture takes a backseat. People may adapt to the culture of the resident country. They tend to follow the foreign culture more, forgetting their own roots. This can give rise to cultural conflicts.
• Uneven Wealth Distribution It is said that the rich are getting richer while the poor are getting poorer. In the real sense, globalization has not been able to reduce poverty.
• Environment Degradation The industrial revolution has changed the outlook of the economy. Industries are using natural resources by means of mining, drilling, etc. which puts a burden on the environment.