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Tapia, Darleen A. Act#2 Integration
Tapia, Darleen A. Act#2 Integration
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.