development economics

1. Placement of the Philippine Economy
in the New Economic World Order

2. The Philippines is considered one of the emerging
economies in Southeast Asia, along with countries
like Indonesia and Vietnam. While it has
experienced steady economic growth and a
burgeoning middle class, it still faces various
challenges in fully integrating into the New
Economic World Order.

3. What is New Economic
World Order?
-refers to the evolving global
economic landscape,
characterized by shifting
economic power, increased
globalization, and the rise of
emerging economies.

4. Some factors affecting the placement of the
Philippine
economy

5. 1. Economic
Structure
The Philippines has a service-oriented economy, with
sectors like Business Process Outsourcing (BPO),
remittances from overseas Filipino workers, and tourism
playing significant roles. While these sectors have provided
economic benefits, they also expose the country to
external shocks, such as changes in global demand and
market conditions.

6. Infrastructure
Infrastructure development is crucial for economic
competitiveness and attracting investments. While the Duterte
administration's "Build, Build, Build" program aimed to address
this issue, progress in infrastructure development has been
gradual, hindering the country's ability to fully harness its
economic potential.

7. Trade and
Investment
The Philippines has actively participated in regional trade
agreements, such as the ASEAN Economic Community, and
has signed various free trade agreements. However, to
maximize benefits in the New Economic World Order, the
country needs to address trade barriers, improve ease of
doing business, and attract more foreign direct investments.

8. Technological
Advancement
Embracing digitalization and technology is essential for staying
competitive in the global economy. The Philippines has made
progress in this area, but further investments in research,
development, and innovation are necessary to keep up with
rapidly evolving global trends.

9. Political Stability
Political stability and good governance are critical for
attracting investments and fostering economic growth. The
Philippines has experienced periods of political volatility and
controversies that have influenced investor confidence.

10. Political Issues Hindering the
Development of the Philippine
Economy

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12. Corruption
Corruption has been a persistent issue in
Philippine politics and governance, hindering
economic progress. It undermines public trust
in institutions, diverts resources away from
development projects, and discourages
foreign investment.

13. Periods of
politicalinstability,
such as coups,
impeachment
threats, and policy
reversals between
administrations,
create uncertainties
for investors and
businesses. A stable
and predictable
political
environment is
essential for
economic growth
and long-term
planning.

14. Political Instability
Periods of political instability, such as coups,
impeachment threats, and policy reversals
between administrations, create uncertainties
for investors and businesses. A stable and
predictable political environment is essential for
economic growth and long-term planning.

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16. Bureaucratic Red Tape
Complex and time-consuming bureaucratic
processes can deter businesses from operating
efficiently. Streamlining administrative
procedures and reducing red tape is crucial to
foster a more business-friendly environment.

17. I
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18. Inadequate Infrastructure
Insufficient infrastructure, including
transportation, power, and
communication networks, hampers
economic development and raises
logistics costs. Addressing these
infrastructure gaps is crucial for
attracting investments and supporting
economic activities.

19. I
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20. Income Inequality
Disparities in income distribution
remain a challenge in the
Philippines. High levels of income
inequality can hinder social
mobility and create economic and
social tensions.

21. Lack of Investment in Education and Skills Development

22. Lack of Investment in Education
and Skills Development
A well-educated and skilled workforce is essential
for economic growth and innovation. Insufficient
investment in education and skills development
can limit the country's human capital potential.

23. E
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m
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C
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g
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24. Environmental Challenges
The Philippines faces environmental
issues, such as deforestation, pollution,
and natural disasters, which can have
adverse effects on the economy.
Sustainable development practices are
necessary to protect the environment
while promoting economic growth.

25. Overreliance on Remittances

26. Overreliance on Remittances
The significant contribution of remittances from
overseas Filipino workers to the economy can
create vulnerabilities, especially during global
economic downturns or shifts in migration
trends. Diversifying the economy is important to
reduce this dependence.

27. Presentors:
Pearl Janel Ganagan
Arlyn Tappa
Rey Marie Quipo
Romar Gregorio
Presentation creator:
Aleine Alcantara