Surigao Del Norte State University
Narciso Street Surigao City 8400, Philippines
Contemporary World
Module 7
Jade O. Pacatan AB-EL 1A
Task 19: Identify and propose 5 contemporary problems associated with globalization specifically in
income inequality and tax dodging.
Problems
Unequal opportunities on global
market integration.
Rampant Corruption
Lacking of financial Literacy
Underpaid Workers
Lacking of implementing
regulation on private banking
transactions.
Solutions
The majority of the time, developing nations are categorized as
suppliers of inexpensive labor and raw material producers. That
prevented them from participating in actual global market
commerce like other first-world nations. In order to create a
competitive and reasonable global market potential, the approach
would be to develop regional collaboration with neighboring third-
world countries.
Corruption is one of the main issues we are now dealing with. The
best method to address the aforementioned issue is to create a
statute that would empower the Commission on Audit. Focus on
laws and important government departments like the Internal
Revenue Service and Customs Bureau, where the majority of
corruption and tax evasion occurred as a result of under-the-table
activities.
The goal of globalization is to focus on principles for creating
income. Resulting in the growing gap between the rich and the
poor. Financial literacy is one of the contributing elements to
poverty, which is frequently brought on by a lack of understanding
of how to manage money. There should be a global movement
whose main goal is financial literacy and its critical role in
eradicating poverty brought on by poor money management.
The government should establish a set of rules for businesses that
hire our workers, especially regarding outsourcing services. To
determine a minimum pay that will allow one to live comfortably.
For migrant workers, a review of manpower agencies that send
employees abroad to fulfill the minimum wage and benefits is
carried out. As long as the administration engages in vigorous
international discussion to address those challenges.
To reduce the risk of theft or unlawful money laundering that
includes commercial banks as participants. The government could
monitor financial activities if there was transparency between the
public and private sectors. Observe: restricted monitoring; does not
act absent an internal anomaly.
SURIGAO DEL NORTE STATE UNIVERSITY

Narciso Street Surigao City 8400

Contemporary World Module 7

Wendell John Castulo AB-EL 1A

Task 19: Identify and propose 5 contemporary problems associated with globalization specifically in income
inequality and tax dodging.

Problems Solutions
Tax evasion The issue will be resolved since fewer collections will make it more
likely that tax evasion will be identified. Make penalties more obvious,
considerably simplify tax law, and consider ways to improve the
administration of justice.
Challenges towards migration The removal of listening-related barriers for particular vocations,
English language instruction, naturalization provisions, and the
establishment of integration roles or task committees are all examples
of state law designed to help immigrants integrate into society. The
number of chances for stability, education, and employment should be
increased, and countries should develop resilience in addition to
reducing the causes of forced immigration.
Corruption One of the most important problems we currently confront is
corruption. Adopting legislation that gives the Commission on Audit
authority is the best method to handle the aforementioned problem.
The Internal Revenue Service and the Customs Bureau, where the
majority of corruption and tax evasion happened as a result of illicit
operations, should be your primary focus.
Compromise of farmlands due to Many farmers lost there agricultural domains to give way to the rise of
industrialization. industrial factories or commercial establishment at there area. So to
solve this issue, the government should regulates the this acquisition of
farm areas to convert into industries. In order to preserve our the
agricultural sector of our country.
Extensive privatization Since they are a nation’s resources, the government should be in
charge of them. An excessive reliance on privatization leads to an
increase in the costs of the relevant services. that should be under
government control in order to counteract any potential abuse by the
private sector.