Economic Systems
Economic
Globalization &
Trade
Learning Outcomes:
Analyze globalization’s impact Compare and contrast two
on economic growth, job trade agreements and
creation, and innovation, evaluate their impact on
identifying benefits and participating countries’
drawbacks. economies.
GLOBALIZATION
Whoa!
Global Trade Simulation
Group
Brainstorming
What were the
benefits of trading
with other groups
in the simulation?
What were the
challenges you
faced when trading
with other groups?
How has
globalization
affected the prices
of goods and
services in your
community?
What are some
examples of
cultural exchange
that have resulted
from globalization?
How can countries
protect their
domestic industries
from the effects of
globalization?
How did the
simulation help you
understand the
concept of
globalization?
What are the key challenges
currently facing the Philippine
economic system, including
issues related to inflation,
unemployment, and public
debt, and how are these
factors impacting economic
recovery?
01
The Impact of Globalization on
Economic Growth, Job Creation,
and Innovation
Learning Outcome:
Analyze the impact of
economic globalization on
poverty and income inequality
and evaluate policies aimed at
reducing them
How does economic
globalization contribute to
the "race to the bottom"
phenomenon, where
countries compete to
lower wages and labor
standards?
How does economic ❑ Competition for
globalization contribute Investment
to the "race to the ❑ Threat of
bottom" phenomenon,
where countries
Relocation
compete to lower ❑ Limited Bargaining
wages and labor Power
standards?
Evaluate the effectiveness
of trade liberalization
policies in reducing
poverty and inequality.
Are there conditions under
which trade liberalization
can be beneficial or
harmful?
Synthesize the arguments
for and against
globalization's impact on
poverty and inequality.
How can we balance the
potential benefits and
drawbacks of globalization
to create a more equitable
global economy?
Beyond economic
factors, how do social,
cultural, and political
factors contribute to
poverty and inequality
in the context of
globalization?
Apply the concepts of
globalization, poverty, and
inequality to a specific case
study, such as the outsourcing
of manufacturing jobs to
developing countries. What
are the potential economic
and social consequences of
this trend?
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BENEFITS vs DRAWBACKS
Job Loss
Increased Economic Growth 01 01
Job Creation Income Inequality
02 02
Cultural
Increased Innovation Homogenization
03 03
0
Two Trade Agreements
Comparison of Two Trade Agreements
Beyond the traditional
economic benefits, how
can globalization
contribute to
addressing global
challenges like climate
change and poverty?
Analyze the role of
technology in shaping the
patterns of globalization.
How have technological
advancements both
facilitated and challenged
the process of
globalization?
Evaluate the effectiveness
of international
institutions like the World
Trade Organization (WTO)
in regulating and
promoting global trade.
What are their strengths
and weaknesses?
Synthesize the arguments for
and against globalization.
How can we reconcile the
potential benefits and
drawbacks of globalization to
create a more equitable and
sustainable global economy?
Apply the concepts of
globalization to a specific case
study, such as the outsourcing
of manufacturing jobs to
developing countries. What
are the potential economic
and social consequences of
this trend?
03
Poverty and Inequality
03
Poverty and Inequality
Policies to Reduce
Poverty and Inequality
Redistributive Policies
Education and Training Programs
Inclusive Growth Strategies
04
Market Integration
BENEFITS
Efficient Gains
By integrating markets,
competition increases
Increased Competition
It spurs innovation and
improvements in quality
Broader Market Access
It allows to scale operations and
expand their customer base.
CHALLENGES
Market Vulnerability
It transmit economic
shocks across borders
Regulatory Divergence
Different regulatory standards
can create barriers to trade
Displacement of Local
Businesses
local economic viability
Role of International Organizations
World Trade International World Bank
Organization Monetary Fund
(WTO) (IMF)
Comparative Models
European Union Model
Represents deep integration with shared
policies and regulations
ASEAN Model
Offers a more flexible approach
NAFTA/USMCA Model
Focuses on trade liberalization while
incorporating provisions for labor and
environmental standards
GLOBALIZATION
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