Mendoza, Airah D

1EDFIL2D
ACTIVITY #3 - Contemporary World

According to what I've read, the Philippines' greatest issue is securing its domestic energy needs
in the face of an uncertain and unpredictable global energy future.
The objective is to establish modern, competent, trustworthy, and responsible energy
institutions that practice transparent and participatory governance.
The government should improve its ties with the International Energy Agency, the International
Renewable Energy Agency, and other global and regional energy organizations.
The Philippines should endeavor to resolve the long-standing maritime border issue with China
fairly. The rise of international carbon markets creates opportunity for local companies in
renewable energy. To address the contradiction of transferring the responsibility of revenue
generation to taxpayers, the government must be able to justify policies on subsidies and fiscal
incentives.

Globalization has shown that a fast-growing economic force has become a political force.
Global governance institutions and processes are being pushed to do more due to this structure
change.
Western media organizations' global operations are examples of cultural globalization.
In most nations, McDonald's and other Western fast-food chains dominate.
Montreal Mexican restaurant opening.
Political globalization means governments act globally.
The UN and WHO are growing stronger and more powerful.
Social globalization allows people from different countries to exchange ideas and information.
Today, the Internet and social media are key.
Globally popular movies, novels, and TV shows demonstrate social globalization.

The COVID-19 epidemic caused shock waves to go throughout the international economy and
was the precipitating factor in the most severe global economic crisis in more than a century.
Because of the crisis, there has been a significant rise in inequality both within and between
countries.

At its core, governance is the system of institutions and social norms through which power is
distributed equitably from the individual to the international community. The political sphere
encompasses the procedures by which leaders are chosen, maintained, and removed.
The economic dimension, or the procedure through which public resources are handled
efficiently and good policies are enacted. A key aspect of any functioning society is the respect
that its inhabitants and government show for its established institutions.

As a political forum for dialogue concerning the most important issues on the global economic
agenda and as an integrator of the various perspectives on the economic, social, and
environmental pillars of sustainable development, the primary function of the United Nations in
the governance of the global economy is to play the role of a global integrator of perspectives.