LESSON 1.

The presence of global food corporations like McDonald’s and KFC manifests that
goods and services can transcend borders as an offshoot of the workings of the WTO.
Together with that, there are multinational corporations that established factories in the
Philippines. These factories offer jobs to thousands of Filipinos. Yet, some of these
companies offer low salaries to their workers, and sometimes, make their workers work
under hazardous conditions. These factories have also destroyed the well-being of the
natural environment in some instances. As a Filipino, was it right for the Philippines to
include itself as a member of the WTO? Please explain your answer.

ANSWER:
In my view, as a Filipino, I believe that it was right for the Philippines to include itself as a
member of the WTO. The only international body that deals with global trade law is the World
Trade Organization (WTO). This organization governs internal arrangements, deals, and
decisions by organized parliaments, where most of its members sign off on them. The
overarching aim is to assist producers of products and services and exporters and importers
with their businesses. Even though there are some disadvantages and downsides to being part
of the World Trade Organization (WTO), I still think that the advantages of being a WTO
member outweigh the disadvantages. One of the advantages or benefits of the Philippines
joining the World Trade Organization (WTO) is that it has aided in reducing tariffs and removing
non-tariff barriers worldwide. Our country's situation allows its goods to reach global markets
with much fewer financial liabilities to the foreign market's government. If WTO policies were not
implemented, it requires Philippine farmers to increase profits by only allocating a limited portion
of those profits to high tariffs. Furthermore, if we were not part of the World Trade Organization
(WTO), we would not enjoy food from the Western such as McDonald's and KFC, and buy
foreign products at a low price. Furthermore, it has also given many job opportunities for the
Filipinos in which at the same time help our economy to prosper.

While there are drawbacks that have been listed, such as low wages for employees,
forcing them to work in an unsafe environment, and factory building causing significant
environmental damages. Furthermore, globalization may exacerbate environmental damage if it
is not accompanied by appropriate governance and regulatory mechanisms. I believe that our
government and the World Trade Organization (WTO) are currently addressing these problems.
They are developing diverse responses to the issues we face and taking action to help us react
positively to economic globalization.