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  • Tapia, Darleen A. Act#2 Integration

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    Tapia, Darleen
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    Good governance is important for the Philippines' integration into the international market. It defines how the government distributes decision making and supports fair globalization by empowering individuals and smaller nations. However, there is currently a lack of good governance, as government officials prioritize personal financial gain over supporting farmers. For the Philippines to benefit from international trade, policy must aim to access innovation, support entrepreneurship, and recommend effective strategies. Trade liberalization can boost employment and economic growth when done properly with good governance.

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    Good governance is important for the Philippines' integration into the international market. It defines how the government distributes decision making and supports fair globalization by empowering individuals and smaller nations. However, there is currently a lack of good governance, as government officials prioritize personal financial gain over supporting farmers. For the Philippines to benefit from international trade, policy must aim to access innovation, support entrepreneurship, and recommend effective strategies. Trade liberalization can boost employment and economic growth when done properly with good governance.

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    7 views2 pages

    Tapia, Darleen A. Act#2 Integration

    Uploaded by

    Tapia, Darleen
    Good governance is important for the Philippines' integration into the international market. It defines how the government distributes decision making and supports fair globalization by empowering individuals and smaller nations. However, there is currently a lack of good governance, as government officials prioritize personal financial gain over supporting farmers. For the Philippines to benefit from international trade, policy must aim to access innovation, support entrepreneurship, and recommend effective strategies. Trade liberalization can boost employment and economic growth when done properly with good governance.

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    of 2

    Darleen A.

    Tapia CAS-06-401P
    What is the role of good governance in the Philippines’ integration to the
    international market? Explain your answer.

    Good governance defines how the government harmonizes the society and it is the distribution
    of of decision-making power within organizations and societies. The Philippines' wide regional
    and global economic integration has been a key component in the country's economic resurgence
    in recent years. The integration supports fair globalization by empowering individuals to better
    handle global economic pressures, strengthening smaller nations' bargaining power, enhancing
    their ability to profit from global possibilities, and increasing global economic links.
    International commerce between countries is a key component in boosting living standards,
    creating jobs, and allowing consumers to access a wider range of goods. There’s an existing
    theory that “comparative advantage” states that countries should specialize in those goods where
    they have a relatively lower opportunity cost. Even if one country can produce two goods at a
    lower absolute cost – doesn’t mean they should produce everything. Here in the Philippines,
    various of agricultural product are abundant that’s why they’re trading it in a lower cost.
    International trade has been a significant driver of economic growth. This expansion has resulted
    in a decrease in absolute poverty levels.
    Actually, there’s a non-existent good governance in this country most likely in international
    trade relationships. The government officials are only after the money and they were pressuring
    the marginalized people to produce quality crops wherein fact they are all taking advantage the
    naïve farmers and, in this situation, they are the primary beneficiary of trading in international
    market. In applying good governance in the Philippines’ integration to the international market,
    the government enforced policy briefs that aims to access the innovation and entrepreneurship
    ecosystem and recommends effective innovation strategies and policies. Overseas Filipino
    workers are perceived as “economic heroes” because of the significant contributions towards the
    growth of the Philippine economy. Economic integration may lower trade costs, enhance
    products and service availability, and boost consumer spending power in member countries.
    Trade liberalization leads to market development, technology transfer, and cross-border
    investment, all of which contribute to increased employment prospects. It also enhances our
    good quality products when we trade to other countries, in that way, we can acquire their trust
    and provide them the best quality products. Many institutions strive to evaluate the degree of
    economic integration between countries and regions since economists and policymakers believe
    it leads to considerable advantages. Multiple economic indicators, such as trade in products and
    services, cross-border money flows, labor migration, and others, are commonly used to measure
    economic integration. Measures of institutional conformance, such as membership in trade
    unions and the strength of organizations that safeguard consumer and investor rights, are
    frequently used to assess economic integration.

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