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GLOBALIZATION

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Globalization can also mean:

▪ Economic globalization - "free trade" and increasing

▪ a term used to describe the changes in societies
relations among members of an industry in different
and the world economy that are the result of
parts of the world (globalization of an industry), with
dramatically increased trade and cultural
a corresponding erosion of National Sovereignty in
exchange.
the economic sphere.

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▪ “global village” - closer contact

between different parts of the
world, with increasing Globalization
possibilities of personal Philippine Context
exchange, mutual
understanding and friendship
between "world citizens"

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▪ The Philippines is taking part in the process of globalization GLOBALIZATION

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because of its agreement with the World Trade Organization ADVANTAGES
(WTO) in 1995.

▪ has allowed major changes in the nation like more labor, and
more Filipino and foreign companies has emerged in the nation in
order to help the country’s developing economy.

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• Cheaper prices
▪ Peaceful Relations

▪ Employment • Communication
• GDP Increase
▪ Education

▪ Product Quality • Transportation

• Free Trade

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GLOBALIZATION
• Travel and Tourism z
DISADVANTAGES
• External Borrowing

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• Uneven Wealth Distribution

• Environment Degradation

• Disparity

• Conflict

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