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Contempo Final Exam ??
Contempo Final Exam ??
Contempo Final Exam ??
Economic Impact
The Philippines' membership in ASEAN has had a significant impact on its economy. ASEAN has
been a platform for the Philippines to engage in trade and investment cooperation with other member
states. According to the ASE Secretariat, intra-ASEAN trade increased from US$2.2 billion in 1990 to
US$594.2 billion in 2020. This growth has helped the Philippines to diversify its export markets and
increase its export earnings.
The ASEAN Free Trade Area (AFTA) has also facilitated the Philippines' access to the regional
market. Under AFTA, the Philippines has eliminated tariffs on a wide range of products traded within
the region. This has helped Philippine products to become more competitive in the regional market. In
addition, the Philippines has been able to attract more foreign direct investments (FDI) from ASEAN
member states. According to the Bangko Sentral ng Pilipinas, ASEAN member states accounted for
18.4% the Philippines' total FDI inflows in 2020.
ASEAN membership has opened up new markets for Philippine goods and services. The ASEAN
Economic Community (AEC) has created a single market and production base that allows for the free
flow of goods, services, and investment among ASEAN member states. This has increased trade and
investment flows between the Philippines and other ASEAN countries, resulting in increased
economic growth and job creation.
Political Impact
The Philippines' membership in ASEAN has also had a significant impact on its political standing in
the region. ASEAN has been a platform for the Philippines to engage in regional diplomacy and
promote its national interests. Through ASEAN, the Philippines has been able to participate in
regional dialogues on security, peace, and stability. This has helped the Philippines to enhance its
strategic partnerships with other ASEAN member states and other regional powers such as China,
Japan, and the United States.
ASEAN has also been a platform for the Philippines to engage in regional effo to address
transnational challenges such as terrorism, piracy, and climate change. The P oohilippines has been
an active participant in ASEAN's regional security architecture, including the ASEAN Regional Forum
and the East Asia Summit. These platforms have helped the Philippines to promote its security
interests and enhance its influence in the region.
ASEAN membership has opened up new markets for Philippine goods and services. The ASEAN
Economic Community (AEC) has created a single market and production base that allows for the free
flow of goods, services, and investment among ASEAN member states. This has increased trade and
investment flows between the Philippines and other ASEAN countries, resulting in increased
economic growth and job creation.
However, the cross-border movement of labor has also presented challenges. Some Filipinos who
work in other ASEAN member states have experienced exploitation and abuse from their employers.
To address these challenges, ASEAN has developed the ASEAN Consensus on the Protection and
Promotion of the Rights of Migrant Workers. This document provides a framework for ASEAN
member states to protect the rights of migrant workers and promote their welfare.
membership has facilitated the movement of people across ASEAN member states. The ASEAN Free
Trade Area (AFTA) has allowed for the free movement of skilled labor across ASEAN member states,
making it easier for Filipinos to work in other ASEAN countries and for skilled workers from other
ASEAN countries to work in the Philippines.
This has created new opportunities for Filipinos to work and gain new skills and experience, while
also helping to address labor shortages in other ASEAN countries.
Conclusion
The Philippines' membership in ASEAN has had a significant impact on its economic, political, and
human labor. Overall, the Philippines' membership in ASEAN has been beneficial in terms of
promoting economic growth, enhancing regional stability, and facilitating the movement of people
across the region. However, there are also challenges that come with ASEAN membership, such as
the need to align domestic policies with ASEAN norms and standards, and to manage the
complexities of regional integration. The Philippines remains a strong and founding member of the
ASEAN grouping, however, the many differing political differences do create problems within the
organization. It would appear that trading relations will become the most important aspect of ASEAN
and the Philippines relationship.
The group has spurred economic integration, signing six free-trade agreements with other regional
economies. Yet various experts say that ASEAN’s impact is limited by a lack of strategic vision,
diverging national priorities, and weak leadership. ASEAN’s biggest challenge is negotiating a unified
approach to China, particularly in response to its widespread maritime claims in the South China Sea.
Another important aspect is the United States still sees ASEAN as vital to the success of its strategic
rebalance and strategic relationship, both politically and economically with Asia. Likewise, other
trading groups and nations, the EU, Russia, Australia, Japan etc, also regard ASEAN as essential in
maintaining the trading strength of the individual member states of ASEAN.
Foreign investors should especially be on the look out for infrastructure development projects further
linking the Philippines to the rest of Asia, while the Philippines itself is positioning itself both as a BPO
service center for ASEAN (and to some extent, China) and as a light manufacturing alternative to
Chinese based production.
ANALYSIS PAPER-BASED
FINAL EXAMINATION
SOCSCI 122
CONTEMPORARY WORLD
SUMBITTED BY:
LOZANO STEALLA MAE & LUMABO LEAH O.
SUMBITTED TO:
ROGIELYN SUENO, LPT.