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Last week's report by Artemio Cusi III in BusinessMirror said globalization has cushioned the impact of the political crisis in the country. That's correct. The Philippine economy is no longer what it used to be twenty years ago. Trade reforms ushered in by the country's tariff reform that (surprise! surprise!) started in the waning years of President Ferdinand Marcos and accelerated by the country's participation with the World Trade Organization (WTO) were the reasons for this. About two-thirds of the country's gross domestic product (GDP) are now accounted for by the globalized sectors of the economy comprising merchandize exports, services exports (ie business process outsourcing), and remittances by overseas Filipino workers.
All these globalized sectors of the Philippine economy are really the ones preventing the country from tearing apart. A lot of fresh graduates are finding jobs in call centers, medical transcription business, litigation support, among others. Call centers......
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Title: Globalization In The Philippines
Approximate Word Count: 316
Approximate Pages: 2 (250 words per double-spaced page)
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Globalization In The Philippines
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