A Progressive Philippines through Global Economy and Political Integration

Word Count: 2212

Over the course of many decades, globalization has been an essential factor in

the expansion and development of the economy. When it comes to the economy, the

term "globalization" refers to the process through which companies, organizations, and

governments begin to function on a global scale. The phrase "economic sphere" is often

attributed to the domain of business, although the political sphere is equally influenced

by it. The exertion of pressure on national governments to become members of

international organizations is an integral part of the role played by political globalization.

The Philippines has reaped considerable advantages as a result of its membership in

global organizations. As a result of this, governments all over the globe have a stronger

incentive to protect human rights and to increase the degree to which they are

responsible to the people they govern. As a direct result, companies now have a greater

range of alternatives for production at lower prices. Consumers all throughout the globe

will benefit from reduced costs and a wider variety of products if there is a more

significant international competition. As a result, I believe that the Philippines and

the Filipino people, in particular, do not suffer any adverse effects as a result of

the global economic and political integration. 

The Philippines is a great example of how globalization may be used to achieve

positive results. There have been changes in the nation, such as an increase in the

availability of labor and an increase in the number of companies that have formed to
boost the economy. This is a crucial component that has contributed resulting in an

improvement of one's quality of life in general. Since 1990, the World Bank reports that

the number of individuals living in conditions considered to be severe poverty has

decreased by 35%. (Globalization Benefits and Challenges, 2020). The most significant

effect of global economics was that it made it possible for Filipinos from all classes to

find jobs abroad. Filipino doctors, nurses, English instructors and professors,

housekeepers, construction laborers, technicians, engineers, sailors, and many more

fall into this category.  

According to the National Economic and Development Authority. Since the

beginning of the pandemic, the Philippine labor market has maintained its positive

momentum, and unemployment is at an all-time low. Furthermore, the government

remains dedicated to enhancing the quality of employment in order to reduce the

widespread underemployment that plagues the nation. "The findings of the most recent

poll demonstrate the benefits of completely reopening our economy. "The government

will leverage on this momentum by strengthening policy interventions and investing in

innovation and technology systems," said NEDA Secretary Arsenio M. Balisacan. "The

goal is to generate higher-quality employment that provides adequate income for

Filipino workers and their families. “Countries like the Philippines, who are still

developing economically, rely largely on trade and foreign direct investment, which in

turn leads to economic integration. 

 In spite of this, one of the issues that will never be fixed is the high rate of

unemployment that persists across the nation, and the government is unable to change

this. A poor economy is a symptom of a high unemployment rate, whereas a

significantly high unemployment rate indicates a poor economy. Both of these

conditions are symptoms of a terrible economy. A weak economy is an indicator or

feature of a nation that has a high unemployment rate. This may also be stated as "poor

economic conditions." The national government of the Philippines still needs to come up

with concrete answers to the problem of combating unemployment, which is one of the

primary factors that contribute to poverty. This is a difficulty since unemployment

presents a problem in that it results in poverty.

Countries whose economies are still in the process of development, such as the

Philippines, depend heavily on international commerce and direct investment from other

nations, which in turn leads to economic integration. The Philippine Statistics Authority

reported that the country's total exports and imports for the month of August 2022

amounted to USD 18.82 billion, which is equivalent to an annual growth rate of 14.8%.

In comparison, the annual increase was just 11.8% in July of 2021, but it skyrocketed to

24.4% in August of the same year. Imports were responsible for 65.9% of all exports in

August of 2022, while exports were responsible for 34.1% of imports (Philippine

Statistics Authority, 2022).

It is hard to dispute that existence a trade deficit, which increased to USD 4.82

billion in September 2022 from USD 3.81 billion in the same period of the previous year
(Philippine Statistics Authority, 2022). This was due to the fact that imports grew at a

faster rate than exports did during the same time period. Even if it is claimed that the

country is still in the process of developing and data are available indicating that there is

a trade deficit remains true despite claims that the country is still developing and despite

the availability of data showing an increase in the annual growth rate. Therefore, the

government needs to engage in a re-alignment of objectives, one of which should

include trade.

One definition of "governance" is the study of how authority is structured and

allocated at the institutional and societal levels. Both the public and private sectors are

affected there exists a formal and informal framework for the decision-making

processes of various groups of agents and entities. The question of whether the

structures of such processes (such as hierarchies and networks) are optimized to

advance the goals of particular institutions and the common good is central to this

discussion. Importantly, "good" governance requires not only evaluating the moral and

social validity of the ostensible goals being pursued but also achieving such specific

objectives as efficiency. Organizational questions in governance span fields as diverse

as economics, politics, business, sociology, and law. Since its causes are frequently

intertwined, it has the potential to be a multifaceted issue.

The first critical angle of this aspect is the level of the effective pursuit of

collective regional goals as policy priorities by a country which is important to a

particular national policy authority that is linked to sovereignty. Historically speaking,

there are distinguished economic places across the countries that are anchored by

differences in the political structure and function, namely the legislation and legal

practices. It is hard to realize the aim of enhanced economic cooperation throughout the

area, which, if successful, would eventually lead to total market integration across the

region, due to the fact that such gaps exist.

The Philippines receives more substantial assistance from other countries and

organizations as a result of its inclusion into the political system. Political integration

includes integration within political systems, integration with economic, social, and other

human systems, and the political processes that lead to such integration. The

expansion of the size of the economic market that the Philippines may profit from as a

result of increased political integration is one of the factors that contribute to the

country's overall economic development. When it comes to securing financial help from

other nations, political integration often plays a part in the negotiation process. As a

result of the integration of the political system in the Philippines, it is more likely that

citizens of other countries will offer assistance to the Filipino people when they have

been affected by natural disasters. This assistance may take the form of financial

support, medical care, or both.

Many nations desire to give aid by investing and conducting business in the

Philippines for a variety of reasons. First and foremost, Filipinos are highly adept

English-speaking workers. The labor force in the Philippines has a significant edge over

that of any other Asian country, particularly in terms of the quality of their work. With a
literacy rate of 94.6%, the Denmark Ministry of Foreign Affairs says that the Philippines

has a quick and steady supply of highly skilled and trainable workers to meet any

business need, including professional, technical, management, and trained staff. The

Philippine workforce's significant competitive edge is its extensive fluency in English. All

schools teach English, making the Philippines the world's third most English-speaking

country. Second, consider a strategic business location. The Philippines, which is in the

middle of Asia, has become a hub for investment and a good place to start growth

projects in the Asia-Pacific region in recent years. It is a crucial entrance point to more

than 500 million people in the ASEAN Market and is situated such that significant

capitals of the area can be reached by plane in an average of four hours of travel time.

Third, Policies that are Beneficial to the Macroeconomy Significant legislative changes

that may assist the Philippine economy in continuing its development have been issued

and put into effect by the government, which also enacted these reforms. It is predicted

that a comprehensive tax reform program, such as cuts to taxation, would raise

consumer spending and encourage economic activity, thus providing a consistent cash

stream for the government's ambitious infrastructure program. This is one example of

how the comprehensive tax reform program ensures a steady revenue flow. In the

meantime, the Ease of Doing Business Act is working toward its goal of reducing

unnecessary bureaucratic red tape by making administrative processes more effective

and open everywhere.

If a nation's economy is struggling, it will be difficult for that nation to collaborate

with the economies of other countries throughout the process of political integration.
Even if increasing political integration increases the probability of gaining help from

other countries, there is still a possibility that those countries may ultimately come to

govern the nation that is in need of aid. Despite the notion that political integration

increases the chance of obtaining help, this is the case. Countries such as the

Philippines have a limited impact on politics on a global scale since their economies are

still in the process of expanding and are still in the process of growing. As a result, other

nations may be able to control the Philippines and utilize their larger power to try

achieve an advantage at the expense of the Filipino people. This would be at the

expense of the Philippines. Strong countries could even be able to exert their authority

on organizations.

Integration within ASEAN may be beneficial to political integration, and it also

helps to deepen the links that exist between individual members of ASEAN. The

Association of Southeast Asian Nations, often known as ASEAN, is a regional

organization that brings together varied neighbors with the purpose of resolving

economic, security, and political concerns; yet, the group's overall influence is still

considered to be relatively modest (What is ASEAN?, 2022). Another worldwide

organization that encourages economic and political cooperation among its members is

the Association of Southeast Asian Nations (ASEAN), of which the Philippines is a

member.

Aside from that, ASEAN has offered the nation an increase in commerce and

investments by creating a broad range of products for customers, therefore supporting

local firms in their efforts to develop overseas. As a result, the country's entire economy

has grown. According to Zaldy Patron (2017), Since the establishment of the ASEAN

Free Trade Area (AFTA), goods from other ASEAN countries can now enter the

Philippine market. This indicates that ASEAN integration may result in lower living costs,

better job chances, more access to education outside of the Philippines, and economic

stability for the country.

The integration of ASEAN countries results in an oversaturation of the market

with goods offered at lower prices. Sugar and rice are two examples of agricultural

products that may be purchased in nations such as Cambodia and India for a lower

price per unit than in other countries. In the end, Filipinos would opt to purchase

imported products that are more affordable than those that are made locally but cost

more money. One of the criticisms that has been leveled against the Asian Economic

Community (AEC) in the past is that it does not provide sufficient protection for small

and medium-sized firms. Inequality and problems with labor might make the situation in

the AEC even more difficult. It is possible that as a consequence of this issue, the

Philippines will have a difficult time procuring things of high quality, and it is also

possible that this issue would delay the political unity of the nation.

In conclusion, the globalization of both the economy and the political system has

provided our country with a number of benefits. The benefits that our nation and we

Filipinos are currently enjoying include an increase in the number of available jobs, a

decrease in the cost of goods and trades as well as an increase in their availability,
improved resources or commodities, a more robust economy, and improved

connections in terms of international relations. In general, the Philippines and we

Filipinos stand to earn a great deal of chances and advantages as a result of global

economic and political integration; yet, it is imperative that we be aware of the

drawbacks that accompany these advantages. There is a possibility that we may incur

more losses than gains. There might be setbacks but the bottom line is a progressive

country like the Philippines will engage more and more opportunities not just in these

two aspects but also for the betterment of Filipino citizens.