How do we examine economic globalization considering our Philippine colonial history?

We inspect economic globalization in consideration of colonial history by learning and understanding the pattern shift between ‘closed door’ mercantile systems like ‘colonialism’ and ‘open door’ economics where anyone can trade and do business with anyone else.

How did economic globalization result from colonization?

Globalization is a form of colonialism that prevents the development of third world countries. Oppressed countries were forced to consume goods that were brought by their colonialists; in return they gave up their own productivity, this lead to high revenues for the colonialists and exploitation for their colonies.

When did the Philippines started to be involved in the globalization process?

1995
When the Philippines acceded to the World Trade Organization (WTO) in 1995, the country demonstrated its determination to face the challenges of globalization.

What is your understanding of economic globalization?

Economic globalization refers to the increasing interdependence of world economies as a result of the growing scale of cross-border trade of commodities and services, flow of international capital and wide and rapid spread of technologies.

How does globalization affect global economy?

In general, globalization decreases the cost of manufacturing. This means that companies can offer goods at a lower price to consumers. The average cost of goods is a key aspect that contributes to increases in the standard of living. Consumers also have access to a wider variety of goods.

Is globalization harmful to the current economy of the Philippines?

Evidence suggests that globalisation has a positive effect on the country’s economic growth and employment. In particular, trade openness and foreign portfolio flows have contributed to higher per capita GDP growth in the Philippines, following the implementation of FX liberalisation reforms.

What is the relationship between globalization and colonialism?

By definition, globalization is the expansion of communication links between different regions whereas colonialism was the expansion of both power and territory. However, the two are similar in the sense that the powerful have an upper hand and can increase their profits at the expense of the poor.

What do you think is the role of the Philippines in globalization?

With the country’s continued openness to globalisation, the total trade of the Philippines increased further, to 101.4\% of GDP in the 2010s (Graph 1). The pickup in global trade starting in 2017 has, in fact, helped in offsetting the weak global demand that lingered after the GFC.

What type of economy is the Philippines practicing Why?

The Philippines has a mixed economy with privately-owned businesses regulated by government policy. It is considered a newly industrialized economy and emerging market, which means it is changing from an agricultural-based economy to one with more services and manufacturing.

How does economic globalization affect the Philippine economy?

What do you think is the role of the economy in globalization?

Economic globalization improves the efficiency of enterprises and plays a great role in increasing the size of the economy of every country. Economic development improves living standard and level of education of people. It also lays the material basis for the development of education.

What is the history of colonization in the Phillipines?

The Phillipines are an Asian Nation. It has an unique history of colonization. It had been twice colonized. Other Asian nations, like India, Malaysia and Indonesia had had only one dominant European colonizer. The Phillipines was inirially a Spanish colony and subsequently an US colony.

How did the colonial period affect the economy?

Well as a possible answer the colonial period happend during the spaniards,invades here our economic system have been industrialize but thats the reason why the globalization still improves on this day I think also the production at that time was used in trading cargo ships used by spanish colonials to import products.

What is the culture of the Phillipines?

The Phillipines was inirially a Spanish colony and subsequently an US colony. Thus its people soeak English (the American version) and Spanish. Thus it is culturally exposed to both English and Hispanic influenced terrirories in the world, besides having a defined national identity in Asia.

What do we need to be part of the global economy?

To be part of global economy one by smart asset managers. Secondly, one has to have a very efficient internet/data centers run by capable people. The country must have a will to win in the global economy arena. We need global and manufacturing businesses without any government intrusion.