TERM PAPER DEFENSE

CONFRONTING CRISIS: Analyzing

Global Economic Scales of
Resilience and Recovery
Presented by: Bautista, Garin, Hidalgo, Lorenzo & Pangilinan
THE S I S S T A T E M E N T
p o r a r y t im e s,
p u n t i l c o n te m
“Even u
s t ill s u b je c t to
a l e c o n o m y is
t he g l o b
s w h i c h in d eed
r t a i n c h a l le ng e
ce
s i o n c la im ing
w n i t s p r o g res
s l o ws d o
o m ic c r i s is is
e g lo b a l e con
t h at t h
no t y et o v er.”
definitel y
 RESEARCH
BACKGROUND/INTRODUCTION

The Historic Financial Crisis of 2008

COVID-19 Outbreak

Ukraine - Russia War

THREE LEVEL SCALES
INTERNATIONAL [United States and China]

REGIONAL [ASEAN Region]

NATIONAL [Philippine Setup]

UNITED STATE’S Strength
The United States houses the largest
companies and banking institutions in
the world.

In crisis, they have the capacity to keep

the ship afloat by relying on their
Federal Reserves to avoid MNCs to
default.
China as a Labor Stalwart
Strategies in Recuperating
Stimulus Packages

Restructuring Major Industries

through tax reductions

Rigid Trade and Export Policies

Initial obstacles = the widespread pursuit of import
substitution policies.
Challenges brought by globalization, Asian financial crisis,
and the economic rise of the People’s Republic of China
(PRC) and India.
Hedging trend.
Post COVID-19 and the ongoing Ukraine-Russia conflict
has implications on the region as well.

ASEAN
 Philippines
During the Crisis
The Philippines suffered much in its export channels, due
to increased unemployments and downturn of the
manufacturing sector.

What was done?

Projects such as the BSP's policy changes, tax
efforts, and eventually 4Ps and AlkanSSSya.

Persisting problems
There are problems in operational constraints,
unappealing and inadequate benefits, and the lack of
cooperation in the system.
Synthesis
United States = stayed afloat but relied on MNCs and lacked
proper safeguards.

China = domestic sector carried but it is dangerous to solely rely

on them due to their volatility.

ASEAN = continue to face challenges in development even after

the financial crisis, improving their framework is key to
development.

Philippines = development project work, but their full potential is

hindered by many constraints in the system.
 Finding & Conclusion
I. R.
Global Hegemonic
powers greatly
influence domestic
policies of smaller
developing states; Smaller states
hedging Countries like the PH
has a relatively weaker
Policy responses tax system, hence their
A known case being the reliance on social
2007 housing crisis and welfare program to
the subsequent 2008 reduce immediate
financial crisis - policy
effects of the financial
response was bailouts
crisis
and stimulus packages
 Finding & Conclusion
How Resilient are these
institutions?
With corporations too big to fail and how they
can trigger economic collapse, it puts into
question the structural integrity of econo-
political institution of strong influential countries
and how this trickles down to smaller
economies.
FUTURE IMPLICATIONS
Who’s to say that the global economy will
stabilize?

As “economic crises” continue to be

pervasive because of contemporary
socio-political events.

Long-term changes = Top-down approach

(POSSIBLE) REACTIONARY
MEASURES

Cooperation

Expansion

Investment
MOVING FORWARD
Lingering uncertainties
that are supported by
existing global
conditions, whilst being
exacerbated by recent
phenomena.

Economic crisis will

continue to persist,
unless drastic changes
are made.
REFERENCES
REFERENCES
Thank You
for listening!