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Impact of Globalization on the Philippine Economy

pls discuss this issue....

Posted by: aiza
Date posted: Apr 01,2009
Replied by: mohammad Bakar | Date replied: Jul 04,2011

Study purpose

Replied by: Patrick I.F. Procianos | Date replied: Oct 02,2008

Globalization is a paradigm shift from the industrial era to the infromation era. It is a revolutionary change in the interaction and integration among people and business across the globe made possible by the creation of the information era. Peter Drucker observed that in globalization, economy is changing structure from being organized around the flow of things and the flow of money to being organized around the flow of information.

As regards impact on Philippine economy, globalization can increase economic prosperity. It will usher increase in technical efficiency and reap economies of scale with the building of infrastrucures to sustain competion and growth. Increased participation of our country in the world economy will foster domestic economic growth and prosperity.

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