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What are the negative effects of globalization in the Philippines? If you ask this question to most Filipinos, they will say that the rising prices of goods and services caused by an influx of foreign products negatively impacts their lives. The fact that globalization has had negative effects on many countries around the world is not disputed, but it’s important to understand these effects so that we can develop solutions moving forward.
The Philippine economy has become more unstable
What are the negative effects of globalization? It's one thing when your favorite coffee shop has to close because they couldn't compete with Starbucks, but it's another when a major company closes its doors and leaves hundreds unemployed. The Philippine economy has become more unstable as corporations have been buying out local businesses, making it harder for locals to get jobs. With fewer options, many Filipino workers are opting for jobs abroad as labor migrants.
The cost of living has increased
In today's world, globalization has become a major factor in every country. The Philippine economy is a perfect example of how it has affected people's lives. One of the negative effects that globalization has on Filipinos is that food prices have increased as a result. The cost for basic necessities such as rice, meat and vegetables are higher than they used to be. This can lead to shortages, higher unemployment rates and ultimately poverty.
There has been a decline in the quality of life
The main effect of globalization is a decline in quality of life. This includes changes to culture, traditions and identity as well as general economic decline. In the Philippines, for example, it has been seen that there has been a decline in health due to lower access to medical care and food; there is also an increase in crime rates because many people are unable to find employment or even educational opportunities. These effects can be seen in many different countries around the world.
There has been an increase in crime
This is the other negative effect of globalization that the crime rates have been steadily increasing for years. Accordingly, with the increase in crime rates, human trafficking, and poverty is also increasing in the Philippines.
There has been a decline in the sense of community
Due to the negative Effects of Globalization, there has been a decline in the sense of community. Before, people were more involved with their neighbors and would go out for picnics or to chat about their day. Nowadays people are so busy or stressed from work or family commitments that they stay inside and engage less with others.
Read Also:- Has Globalization Facilitated or Obstructed Greater Labor Migration
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