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Although globalization has promised an improved standard of living and economic development, it has been heavily criticized for its production of negative effects. Globalization is not simply an economic project, but it also heavily influences the country environmentally, politically, and socially as well.
As prescribed by House Rules, the committee's jurisdiction is on the effects on various social sectors of the World Trade Organization's policies and other actions to harness opportunities offered by globalization for economic development. [1]
Being globalized means taking positive aspects of the world, but globalization also brings the debate about being Westernized. Democracy, fast food, and American pop culture can all be examples that are considered as Westernization of the world.
Along with globalization comes myriad concerns and problems, says Stiglitz. The first concern being that the rules governing globalization favors developed countries, while the developing countries sink even lower. Second, globalization only regards monetary value of items, rather than other factors involved; one being the environment.
Globalization is commonly defined as the international movement toward economic, trade, technological, and communications integration and concerns itself with interdependence and interconnectedness. As a result of the interconnectedness brought on by globalization, languages are being transferred between communities, cultures, and economies at ...
Glocalization represents the fusion of "globalization" and "localization," emphasizing the need for global entities to tailor their offerings to suit the unique characteristics of individual regions or communities. Glocal, an adjective, by definition means "reflecting or characterized by both local and global considerations". [2]
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2025, the Philippine economy is estimated to be at ₱29.66 trillion ($507.6 billion), making it the world's 31st largest by nominal GDP and 11th largest in Asia according to the International Monetary Fund .
The policy received positive reception from Filipino businessmen, [3] and there were calls to expand the scope of the policy to include other spheres of society such as education. [ citation needed ] However, it received negative reception from foreign and/or non-native businessmen, particularly the Americans , Chinese , along with their ...