Globalization deeply affects the values and structure of Philippine society. The State has a responsibility of protecting its citizenry and environment to the possible effects of it. Globalization is not the cure-all answer for our economic woes. There are more things to life than a competitive market or liberalization. It does automatically lead to economic growth, much less societal development and progress. There are other dimensions and considerations in the development of a nation. There needs to be a societal framework and a set of institutions to ensure the appropriate and justified working of an open market economy.
Economic performance is heavily dependent on the vitality of institutions outside the economy - the institutions of political, cultural, and social life as well as institutions that ensure the integrity of nature. The economy dies if society around it dies. Markets are important but they need the support of the appropriate institutions to function properly and effectively.
A vibrant culture and a just polity are essential for an efficient economy.
The Philippine Agenda 21 is the unique response of the country to global challenges. It embarked on a threefolding stakeholdership as a means to achieve a more compassionate economy within the context of sustainable development. This participatory activity involves the civil society representing culture, government representing polity and business representing the economy. This development approaches have more chances of working since the development perspective encompasses all dimension of society. In order to fully participate in globalization without sacrificing national interest and patrimony, the State must address the five goal elements of PA 21 namely, poverty reduction, social equity, empowerment and good governance, peace and solidarity and ecological integrity.
Globalization brings fears to the Filipino workers. The fall of protectionism and other barriers to trade contribute much to the uncertainties that workers face...