ROSA, Alyanna Kate

ASSIGNMENT #2
1.How do economic forces facilitate the deepening of
globalization?

Globalization has a great role to the development of

the economy and vice versa, the economy is a major factor to
deepen the globalization.
All services, products, trades happen and is found in
the market. The demand and supply of the people of community
affects the economical status of the country. If thee demand
of people rises, the supplies need to satiate the needs of
the people. Which is when the advancement will take place to
provide service to the people. A developed and well managed
economy gives advantage to every country. For example, a
country’s quality product is traded to another country in a
market, with a high price, everyone will get an advantage.
Once a country’s product, raw materials, and skills is sold
to the world marketplace it provides everyone benefits and
merits which helps the globalization to deepen.
The desire of a country to earn profit from market is a
strong economic force that fuels the globalization.
The enhancement and development of economy and market
heightens the effect of globalization.

2.How is the Philippines central to the history of

economic globalization?

Globalization is a phenomenal acceleration. It impacts

and affects every important aspect of the society. The
development of technology, politics, and economical
advancement of a nation. The most affected aspect of
globalization is the economy. “Economic Globalization refers
to the increasing interdependence of world economies as a
result of the growing scale of cross-border trade of
commodities and services, flow of international capital and
wide and rapid spread of technologies.”
ROSA, Alyanna Kate
According to some economists, free trade starts during
the Industrial Revolution, around year of 1870 to 1914.
During the Manila Galleon, begins the globalization that put
the Philippines at the central of globalization. Manila
Galleon was an important part of the history of trading.
This trading ship sailed for almost two and a half
centuries. Some professors said that the history of Chinese
and Manila trade with Mexico was the first history of
globalization.
The increase of the trade and global finance is an
evidence that the Philippine economy is somewhat growing.
Another reason that the Philippine Economy is at the center
stage is the OFW. The labor and these workers are around the
globe that helps the economic status of the country. Since
the globalization begins in the Philippines, a lot of
development, advantages and disadvantages occurred in the
country.