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Economic Globalization pertains to the increasing Act of reducing trade barriers to make international trade

interdependence of world economies due to cross- easier between countries.

border trade, international capital flow, and  TARIFF
technological innovations.  ×IMPORT QUOTA
Economic globalization makes the developed countries
FREE TRADE-trading of goods and services between two
to gain more at the expense of other nations. World
or more countries without tariffs or taxes.
economies resulted to adopt either protectionism or
trade liberalization
e.g. connection between Canada and South Korea
(March 11, 2014)
 THE INDUS VALLEY CIVILIZATION all the way to TRADE BLOC- agreement between governments to
MESOPOTAMIA reduce or eliminate trade barriers.
OUTSOURCING- subcontract work: to buy labour or parts
Economic Globalization from a source outside a company or business
 Communication: rather than using the company's staff or plant (factory).
Modern communication technology and mass media are
global standard. Institutions of Globalization
It’s relatively easy and inexpensive to stay in touch.  World Bank
Also called Int’l Bank for Reconstruction and
 Transportation: Development (IBRD)
Travel and shipping are cheap and safe Increases in economic growth and decreases poverty in
developing countries.
 Trade
Multi-national Corporation have global reach and  International Monetary Fund (IMF)
increasing power Provides short term loans to countries when an
E.g.. Mcdonald corp., intel corp. Etc. emergency occurs.
 World Trade Organization (WTO)
Governments have decreases tariffs and regulation on
int’l trade Formerly known as General Agreement on Tariffs and
Trade (GATT)
Protectionism Deals with the rules of trade between nations, settles
Protecting one’s economy from foreign competition by trades disputes and conduct straight negotiations.
creating trade barriers.
Domestic products > Imported goods Sustainability
 TARIFF- tax levied by a government on imports The degree to which the Earth can provide resource for
and exports. Human needs.
 The money collected from tariffs is called a
customs duty. Sustainable Development
 IMPORT QUOTA- limits on the number of Specifically developing the world in a way where the
products that can be imported into a country. needs of a present day generations are met while
 BANS- forbid products on import goods. preserving resources for future generations.

Trade Liberation
Also called “FREE TRADE”
group for the purpose of participating or
Demographic Transition engaging in online interactional transactions
The demographic transition theory is a generalized POEA is responsible for the overseas
description of the changing pattern of mortality, fertility employment program of Filipino workers, as well
and growth rates as societies move from one as the monitoring and supervision of recruitment
demographic regime to another. agencies in the Philippines.
OWWA, on the other hand, focuses on the
Demography welfare of the OFW members and their families.
the study of statistics such as births, deaths, income, or NLRC deals with payment of money claim
the incidence of disease, which illustrate the changing CFO- is a Philippine agency that is tasked to
structure of human populations. promote migrant welfare and interest.
 Fertility-Birth DFA- deals with consular and diplomatic
 Mortality- Death matters.
 Mobility- Movement and Migration

Dependency Ratio
The dependency ratio is an age-population ratio of those
typically not in the labor force and those typically in the
labor force. It is used to measure the pressure on the
productive population.

Migration-is a way to move from one place to another in

order to live and work.

Push-Pull Factors
The terms "push" and "pull" factors are used to describe
why people migrate from one area to another. The
opportunity of employment is a major pull factor in

 Push factors are those associated with the area

of origin.
 Pull factors are those that are associated with
the area of destination.
Social Cost of Migration- deteriorization of families and
Brain Drain or Human Capital Flight- emigration or
immigration of individuals who have received advanced
training at home.

 Tourists -travel because they want to.
 Vagabonds – because they have no other choice.
(e.g. OFW, Assylum seekers, Refuggees)
 Diaspora- is a scattered population whose origin
lies in a separate geographic locale.
 Virtual Diaspora- mean the use of cyberspace by
immigrants or descendants of an immigrant