“Is Globalization Good or Bad for the Philippines?

In the fast paces lifestyle of the 21st century, we are exposed to numerous
technologies, services, and goods that we share with the rest of the world. It has
become easier for different cultures to relate to each other just by simply talking about
a Netflix series or a popular celebrity. All of these are results of what we refer to as
“Globalization”. Today, it really does keep the world going. However, how could we
assure that it is truly good for all of us?

Today, in my life and giving consideration to the situation we all are experiencing,
I could say that globalization has a positive effect. Firstly, having the new form of
learning requires a lot of technological creations such as laptops, mobile phones, and
cameras. Without globalization, it would not be possible for us to use our iPhones, our
Galaxies, our laptops and many more. It is because of globalization that the
importation and exportation of these products occurred. If the globalization process
failed to happen, it would have been very difficult for almost all to find ways in
pursuing education in this pandemic. Now even back to the time before the pandemic
struck, globalization was still a positive process for me. My second point here is that
globalization gave an opportunity for my family to live a comfortable life where we
could wear decent clothes, eat three times a day, and live under a roof. Globalization
made an opportunity for my father to work overseas and provide for us and I know it
has opened doors to many families as well. Lastly, globalization made the world share
what they have to us and us to share what we have to them. It made us taste flavors
from around the globe. Truly, in my life and presumably the lives of fellow teenagers
like me, globalization leaves a positive mark.

In the Philippine context, I believe that globalization is also positive. Firstly,

because of globalization, we have now our so called “Mga Bagong Bayani” which
are our Overseas Filipino Workers. Their dollar remittances have helped the
Philippine economy so much. In 2018, it was reported that remittances sent
by OFWs accounted for 11% of the total GDP of the country. In a study by
Guilano and Arranz (2018), it was found that remittances improve credit
constraints on the poor, improve the allocation of capital, substitute for the lack of
financial development and thus accelerate economic growth. Therefore,
globalization has somehow helped with the growth of the country’s economy.
Second, globalization allowed us to export our goods which also helped in
building our economy. Studies suggest that trade openness and foreign portfolio
flows, which is a product of globalization, have contributed to higher per capita
GDP growth in the Philippines. Lastly, because of the economic effects of
globalization, our country was able to produce income to create programs and
build infrastructures for the welfare of the people.

There may be negatives to globalization, however, as I see it in my life and

reflected on our country, I believe it has leaned to provide more of what is
positive. Therefore, globalization gave a positive outcome to my own life, to the
life of the country, and the life of the people therein.