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TCW - Act 2

The document discusses the debate on global free trade's impact, highlighting its benefits such as lower product costs and economic growth, while also addressing its negative consequences like economic inequality and geopolitical tensions. It includes critiques of globalization from three newspaper op-eds, emphasizing the need for sustainable growth and the effects of COVID-19 on economies. Additionally, it outlines the World Bank's role in supporting economic development in the Philippines and its long-term impact on poverty reduction and infrastructure improvement.

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Krisha Jane Bauyon
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3 views

TCW - Act 2

The document discusses the debate on global free trade's impact, highlighting its benefits such as lower product costs and economic growth, while also addressing its negative consequences like economic inequality and geopolitical tensions. It includes critiques of globalization from three newspaper op-eds, emphasizing the need for sustainable growth and the effects of COVID-19 on economies. Additionally, it outlines the World Bank's role in supporting economic development in the Philippines and its long-term impact on poverty reduction and infrastructure improvement.

Uploaded by

Krisha Jane Bauyon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Student Portfolio

Krisha Jane Bauyon


GE 111

ONLINE DISCUSSION BOARD


Let`s Discuss This: World Economics
Debate: The students will debate the motion “That global free
trade has done more harm than good.”

Global free trade. Globalization usually benefits a larger number of people but in this topic
we are biased. All customers can afford or may buy cheaper products as a result of global free
trade. Globalization expands the division of labor across borders, lowering product costs.
Globalization benefits developed countries' capital profitability, industrial structure, innovation, and
environment via lowering costs, increasing profits, and outsourcing. “What is global free trade and
why it has done more harm than good? ” Global free trade occurs between nations or jurisdictions
in which the import and export of products, resources, information, services, and technology are
unrestricted by taxes, prohibitions, or quotas. Many things have been accomplished as a result of
global free trade. It drives us toward weaker national economies and a stronger global economy,
as the name implies, until all nations are equal. Globalization is difficult, but we have done it before.
When the United States of America was founded, and for the most of our history, half of the country
carried the other half. It's worked out rather nicely, albeit the road has been bumpier than smooth
at times. We can say that we can recover from economic damage, globalization is WELL WORTH
the economic cost. All wealth comes from foreign trade, which is based on free trade. It has no
desire to expand domestic trade. It has export-oriented industries that benefit third-world countries.
This is referred to as comparative advantage. We can't merely talk about the benefits of free
trade. We need to talk about free trade and its consequences. I've suggested a few points. Nixon,
on the other hand, is undermining the Bretton Woods fixed exchange arrangement. A fixed exchange
mechanism is unappealing to free traders. Glass Steagall was assassinated. This is what free
traders have given us: endless wars and regime change warfare. President Barack Obama warned
African pupils that if their living standards improved, the world might boil over. As a result, stating
that you all cannot have a good quality of living will put the globe in jeopardy.
Self-Assessment No. 2
News report critique: Students will find and read three
newspaper op-eds (local or international) discussing globalization.
Write 50-word summaries of each op-ed, identifying what the
underlying definitions of globalization the op-ed writers use. Cite your
references using APA citation format.
First News Paper
A crossroads to more sustainable, inclusive growth
Globalization is the growing interdependence of the world’s economies, cultures, and
populations. COVID-19 Pandemic affects the economic growth and it add more people into
extreme poor. Growth patterns are important in ensuring that all segments of society benefit
from and participate in economic growth. It also reminding us that transformative development
prospects work best when they address the core causes of inequitable and unsustainable
growth.

Second News Paper


GDP in the time of COVID-19
The gross domestic product (GDP) is the most commonly used indicator of a country's
productivity and wealth. COVID-19 has economic consequences that go beyond what national
accounts have been able to measure. Several persons were able to keep a large percentage
of their money through market operations during the outbreak. As a result, the social and
economic ramifications are far more varied.

Third News Paper


Rethink Cities to Help Asia Make the Most of Urbanization
This means that city planning cannot end at the city bounds. The fragmentation of a city's
labor market is avoided through efficient transportation networks that link from neighborhoods
to workplaces. In all types of cities, growth necessitates liveliness. Flows of products, services,
and people connect cities to one another and to the rural hinterland. Mid-sized cities and even
market towns that specialize in distributing agricultural commodities are also important for
strong and balanced national economic growth.
Reference:
Self-Assessment No. 3
Direction: Identify the answer in the following questions. Write your
answer in the space provided before each number.

Silk Road 1. It is known as the oldest international trade route with a network of pathways in
Ancient world from China to Middle East and to Europe.
Globalization 2. It begins when “all important populated continents began to exchange products
continuously – both with each other directly and indirectly via other continents – and
Great in values sufficient to generate crucial impacts on all trading partners.
Depression 3. This depression was the worst and longest recession experienced by the Western
The world.
World Bank 4. It was created to be responsible for funding postwar reconstruction projects.
Early 1970s 5. This year, oil price sharply increase as a result of the Organization of Arabic
Petroleum Exporting Countries imposition of an embargo

Activity No. 1
Go to the web of an international economic organization or an international company and
accomplish these tasks:

1. Research the origins and history of the institution you have chosen;
2. Pap the international connections it has created
3. Identify the major country-leaders of this institution
4. Locate the Philippines in this map of interconnections.

Then answer this question: How does this institution influence global economic activity? How does
it affect economics in the Philippines?

The World Bank affects global economic activity because the support of it is often long-term,
and it is funded by contributions from member countries as well as bond issuance. The World Bank
encourages long-term economic development and poverty reduction through assisting nations in
reforming certain sectors or implementing specific projects, such as building schools and health
facilities, providing water and power, combating disease, and safeguarding the environment. Staff
at the World Bank are frequently experts in specific issues, industries, or methodologies.
In the East Asia Pacific area, the Philippines has one of the most dynamic economies. The
Philippines' economic vitality is established in strong consumer demand supported by a vibrant
labor market and significant remittances, thanks to increased urbanization, a growing middle class,
and a huge and young population. The World Bank also affects the economics in the Philippines
since it has been a partner of the Philippines for 75 years, assisting in the development of the
country's programs and projects, and helping us to improved more. Since 1945, the World Bank
Group has mobilized funding, global knowledge, and partnerships to help the Philippines alleviate
poverty, improve infrastructure, improve health, nutrition, and education, strengthen resilience to
climate change and natural disasters, promote peace, and improve global competitiveness.

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