GLOBALIZATION OF ECONOMY AND SOCIETY

Globalization

means uprooting old ways of life and threatening livelihoods and cultures. The global social
justice movement, itself a product of globalization, proposes an alternative path, more
responsive to public needs. Intense political disputes will continue over globalization's
meaning and its future direction.

Globalization of the Economy

Northern countries want to open world markets to their goods and take advantage of abundant, cheap
labor in the South, policies often supported by Southern elites. They use international financial
institutions and regional trade agreements to compel poor countries to "integrate" by reducing tariffs,
privatizing state enterprises, and relaxing environmental and labor standards. The results have enlarged
profits for investors but offered pittances to laborers, provoking a strong backlash from civil society. This
page analyzes economic globalization, and examines how it might be resisted or regulated in order to
promote sustainable development.

40
th
largest in the world, according to 2012 International Monetary Fund statistics
one of the emerging markets in the world.
newly industrialized country, it has been transitioning from one based on agriculture to one
based more on services and manufacturing.
Primary exports include semiconductors and electronic products, transport equipment,
garments, copper products, petroleum products, coconut oil, and fruits. Major trading
partners include the United States, Japan, China, Singapore, South Korea,
the Netherlands, Hong Kong,Germany, Taiwan, and Thailand.
The Philippines has been named as one of the Tiger Cub Economies together
with Indonesia, Malaysia and Thailand

According to the CIA Factbook, the estimated 2012 GDP (purchasing power parity) was 424.355
billion.

Goldman Sachs estimates that by the year 2050, the Philippines will be the 14
th
largest
economy in the world, Goldman Sachs also included the Philippines in its list of the Next
Eleven economies. According to HSBC, the Philippine economy will become the 16th largest
economy in the world, 5th largest economy in Asia and the largest economy in the Southeast
Asian region by 2050.

Primary exports include semiconductors and electronic products, transport equipment,
garments, copper products, petroleum products, coconut oil, and fruits. Major trading partners
include the United States, Japan, China, Singapore, South Korea, the Netherlands, Hong
Kong,Germany, Taiwan, and Thailand.
The Philippines has been named as one of the Tiger Cub Economies together
with Indonesia, Malaysia and Thailand

Macroeconomic trends
The Philippine economy has been growing steadily over decades and the International Monetary
Fund in 2011 reported it as the 45th largest economy in the world. However its growth has been
behind that of many of its Asian neighbors, the so-called Asian Tigers, nor is it a part of
the Group of 20 nations. Instead it is often grouped in a second tier of emerging markets or
of newly industrialized countries. Depending upon the analyst, this second tier can go by the
name the Next Eleven or the Tiger Cub Economies.

Composition by sector
As a newly industrialized country, the Philippines is still an economy with a large agricultural
sector; however, services have come to dominate the economy.Much of the industrial sector
is based on processing and assembly operations in the manufacturing of electronics and other
high-tech components, usually from foreign multinational corporations.
Filipinos who go aboard to work-known as Overseas Filipino Workers or OFWsare a
significant contributor to the economy but are not reflected in the below sectoral discussion
of the domestic economy. OFW remittances is also credited for the Philippines' recent
economic growth resulting to investment status upgrades from credit ratings agencies such as
the Fitch Group and Standard & Poor's.

Agriculture
The Philippines is the world's largest producer of coconuts producing 19,500,000 tons in 2009.
Coconut production in the Philippines is generally concentrated in medium-sized farms.
1995-production of coconut in the Philippines had experienced a 6.5% annual growth and later
surpassed Indonesia in total output in the world.
2009-The Philippines is also the world's largest producer of pineapples, producing 2,198 thousand
metric tons
2010-world's largest rice importer
Rice is the most important food crop, a staple food in most of the country. It is produced
extensively in Luzon, the Western Visayas, Southern Mindanao, and Central Mindanao.
The Philippines is also one of the largest producers of sugar in the world according to Food
and Agriculture Organization of the United Nations Statistics Division
Year 2012-2013-29 mills are operational divided as follows: 6 mills in Luzon, 13 mills in Negros, 4 mills
in Panay, 3 mills in Eastern Visayas and 3 mills in Mindanao

Shipbuilding and repair
The Philippines is a major player in the global shipbuilding industry with shipyards
in Subic, Cebu, General Santos City and Batangas
fourth largest shipbuilding nation in 2010.

Subic-made cargo vessels are now exported to
countries where shipping operators are based.
The countrys shipyards are now building ships like bulk carriers, container ships and big
passenger ferries. General Santos' shipyard is mainly for ship repair and maintenance.
In the ship repair sector, the Navotas complex in Metro Manila is expected to accommodate
96 vessels for repair.

Automotive
Automotive sales in the Philippines moved up from 165,056 units in 2011 to over 180,000 in
2012. Japans automotive manufacturing giant Mitsubishi Motors has announced that it will
be expanding its operations in the Philippines.

Aerospace
In 2011, the total export output of aerospace products in the Philippines reached US $3 billion.

TRENDS ON EDUCATED CONSUMERS OF THE PHILIPPINES

Why women consumers really matter?

Women have acquired another power: becoming the world's largest and fastest-growing
market to date.
Just how much do women contribute to the global market? They control $20 trillion of the
consumer spending worldwide. Women have the power of making or influencing 80 percent
of all purchase decisions, including 60 percent of traditional male products like automobiles,
home improvement products, and consumer electronics. Women have emerged to be strong
users of social media as well. They are also great consumers of mobile phones, as they talk
and text more-communicating to their loved ones and valuing their friends' advice through
mobile and online devices.

The Great Female Economic Opportunity
The High Heeled Warriors study identified five unique groups of women consumers, namely:

-Trailblazers-individualistic, career-focused women who are big on spending and consume a variety of
media, including entertainment on multiple platforms

-Passionistas-''spontaneous'' ones who want to ''live for the moment.'' Women who treat TV as a
social activity and tend to have the most number of friends on Facebook are called the social-siders

-peace-keepers- balance and are very loyal consumers that stick to their favorite brands and TV
shows.

-heart-warmers -family-oriented women who take pride and spend for their family.

The Emerging Asian Women
Majority of these women audiences have gotten more educated, powerful and ambitious over
the last couple of years.
ASEAN region has the highest proportion of women in senior management roles in the world-
32 percent against the global average of 21 percent.
Thirty-one percent of women in Asia are chief income earners, with a purchase of over 60
percent on traditionally male products.
In the Philippines, 600 respondents were surveyed for the study, with 66 percent of them
residing in Mega Manila. Fellowes found Filipinas very unique. ''The predominance of the
passionista is very telling-women here are assertive, ambitious, educated and determined, but
unlike the trailblazers, here they want to live life to the fullest, they are creative, they're
optimistic and you don't find the two together''
Education-wise, there are more Filipinas who are college graduates, with 55 percent finishing
school, and 64 holding licensed professions. Filipinas are more functionally literate as well,
with an 89 percent literacy rate as opposed to the men's 87. On basic money management,
Filipinas scored nine percent higher than the Filipino men. Half of the OFWs are women. In the
2010 elections, there were 76 percent of women who voted compared to 74 percent men.
Filipinas are also making decisions for themselves and their loved ones.

Unfortunately though, women consumers have yet to feel they are indeed an important
market. According to Henry Robles, NBCUniversal research director for audience research and
analysis, despite a woman's strong buying power, companies still continue to market mostly
to men. ''They fail to explore this great female economic opportunity,'' he says.
Robles adds that advertisers should listen to the needs of this critical demographic. They
found out that women don't feel engaged by today's ad campaigns
Across the Asian region, 74 percent of those surveyed believe that financial independence is
very important. In the Philippines, it's bigger at 87 percent.

ISSUES ON EDUCATED CONSUMERS OF THE PHILIPPINES

Companies today have found easier ways to interact with customers, becoming more adept
when it comes to knowing consumers' needs, preferences and even social profiles. This ability
to engage allows business entities to improve customer loyalty, eventually translating to sales
and customer satisfaction.
There is no doubt that the Internet and social media have greatly influenced customer
behavior.
In a study that Nottle cited during a media briefing, he shares that four out of five customers
change their purchasing decision based on what they see in social media.
''We have seen the changes over the last 10 years. Customers now are all about behavior.
They are now more educated and it's because of I.T.,'' he says, adding that I.T. is enabling
business to cut across from sales to customer service.