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    Lesson 4 Economic Globalization Amidst Pandemic

    Uploaded by

    Winterson C. Ambion
    This document provides information about the economic impact of the COVID-19 pandemic in the Philippines. It begins with recapping the previous lesson and stating the learning objectives. It then defines economic globalization and discusses how the pandemic has affected the Philippine economy, causing its first recession in decades. Unemployment rates increased substantially. Certain industries like retail and personal services were heavily impacted due to reduced consumer spending. The document predicts that recovery will be slow through 2021 and unemployment will remain high. It also discusses guidelines for a gradual return to limited face-to-face classes and skills needed to survive in the post-pandemic period.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Lesson 4 Economic Globalization Amidst Pandemic

    Uploaded by

    Winterson C. Ambion
    30 views29 pages
    This document provides information about the economic impact of the COVID-19 pandemic in the Philippines. It begins with recapping the previous lesson and stating the learning objectives. It then defines economic globalization and discusses how the pandemic has affected the Philippine economy, causing its first recession in decades. Unemployment rates increased substantially. Certain industries like retail and personal services were heavily impacted due to reduced consumer spending. The document predicts that recovery will be slow through 2021 and unemployment will remain high. It also discusses guidelines for a gradual return to limited face-to-face classes and skills needed to survive in the post-pandemic period.

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    © © All Rights Reserved

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    This document provides information about the economic impact of the COVID-19 pandemic in the Philippines. It begins with recapping the previous lesson and stating the learning objectives. It then defines economic globalization and discusses how the pandemic has affected the Philippine economy, causing its first recession in decades. Unemployment rates increased substantially. Certain industries like retail and personal services were heavily impacted due to reduced consumer spending. The document predicts that recovery will be slow through 2021 and unemployment will remain high. It also discusses guidelines for a gradual return to limited face-to-face classes and skills needed to survive in the post-pandemic period.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    30 views29 pages

    Lesson 4 Economic Globalization Amidst Pandemic

    Uploaded by

    Winterson C. Ambion
    This document provides information about the economic impact of the COVID-19 pandemic in the Philippines. It begins with recapping the previous lesson and stating the learning objectives. It then defines economic globalization and discusses how the pandemic has affected the Philippine economy, causing its first recession in decades. Unemployment rates increased substantially. Certain industries like retail and personal services were heavily impacted due to reduced consumer spending. The document predicts that recovery will be slow through 2021 and unemployment will remain high. It also discusses guidelines for a gradual return to limited face-to-face classes and skills needed to survive in the post-pandemic period.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 29

    LESSON 4

    Faculty
    LESSON RECAP:

    1. The role of religion to globalization


    2. Differences of religion and spirituality
    3. The Separation of Church and State
    LEARNING OBJECTIVES:

    At the end of the lesson, the student will be able to:


    1. Define economic globalization.
    2. Identify how the COVID-19 Pandemic affected the
    country’s economic condition.
    3. Enumerate professions and businesses that will rise in
    the post-pandemic period.
    WHAT IS ECONOMIC GLOBALIZATION?

    ECONOMIC GLOBALIZATION IS AN IRREVERSIBLE TREND


    Economic globalization refers to the increasing interdependence of world
    economies as a result of the growing scale of cross-border trade of
    commodities and services, flow of international capital and wide and rapid
    spread of technologies.

    It reflects the continuing expansion and


    mutual integration of market frontiers, and
    is an irreversible trend for the economic
    development in the whole world at the
    turn of the millennium(Shangquan, 2020).
    What is the present situation in the Philippines?

    Source: Department of Health


    What is the present situation in the Philippines?

    Source: Department of Health


    What is the present situation in the Philippines?

    Source: Department of Health


    What is the present situation in the Philippines?

    • The general community quarantine (GCQ) in Metro Manila including nine


    other areas is extended anew until end of January 2021.

    • The rest of the country will be under the modified general community
    quarantine (MGCQ).

    • New quarantine classifications could still change after reports of a


    mutated COVID-19 variant emerging in the United Kingdom.
    What is the present situation in Philippines?

    • Age-based stay-at-home restrictions to include those who are 17 years


    old and below, as well as those over 65 years.

    • Face-to-face or in-person classes still suspended.

    • Mass gatherings are still prohibited.

    • Religious gatherings in areas under General Community Quarantine shall


    be allowed up to thirty percent (30%) of the seating capacity.
    What is the present situation in Philippines?

    • Minimum public health standards shall be complied with at all times.

    • Alternative work arrangements such as flexible work arrangements,


    compressed work week, telework, and telecommuting is strongly
    encouraged.

    • Public transportations shall be allowed to operate at a certain capacity in


    accordance with guidelines provided by the Department of
    Transportation.
    The Economic Impact of COVID-19
    Pandemic to the Philippines
    The onset of the COVID-19 pandemic brought the country’s economy into
    recession breaking almost three decades of uninterrupted growth.

    The Philippines has been


    considered as one of the
    fastest growing economies in
    Asia over the ten years to
    2019.
    The Economic Impact of COVID-19
    Pandemic to the Philippines
    The Philippines’ pandemic
    lockdown described as one of the
    longest, where 75% of the
    economy was shut down. The
    economy GDP shrank by 11.5
    percent year on year in the third
    quarter of 2020 bouncing back
    with a smaller contraction from the
    16.9 percent in the previous
    quarter.
    The Economic Impact of COVID-19
    Pandemic to the Philippines

    UNEMPLOYMENT RATE

    Month Rate Equivalence


    April 2020 17.6% 7.3M
    October 9.7% 3.8M
    For one group of
    about 1.4 million
    workers – primarily in
    industries involving
    eating out,
    entertainment,
    recreation,
    accommodation
    and air travel – the
    loss of work is the
    inevitable result of
    government
    shutdowns.
    Another group,
    comprising about 900
    thousand workers, are in
    retail trades (non-food)
    and personal services,
    where the effect on jobs
    is coming from
    consumers cutting
    spending apart from
    essential items.
    Will There Be Face-to-face Classes Soon?
    The Commission on Higher
    Education (CHED) and the
    Department of Health (DOH)
    have approved the guidelines for
    the gradual reopening of
    colleges and universities for
    limited face-to-face classes.

    For the gradual reopening of campuses, priority shall be given to selected


    health-related degree programs regarded as vital in providing additional
    manpower support in the health system during the pandemic.
    PREDICTIONS:
    The Impact of COVID-19
    Pandemic

    SAM CHITTICK
    Country Representative for the Philippines
    The Asia Foundation
    1. The shocks from Covid-19 will continue
    through 2021 for the Philippines, shaping the
    social, economic, security, and political
    landscape.
    2.Vaccination is not projected to reach a
    significant portion of the population until
    mid-2022.
    3.The recovery in 2021 will be slow,
    hampered by continued Covid-19
    restrictions.
    4. Unemployment above 10 percent, large
    numbers of people leaving the job market,
    declining remittances from abroad, and the
    struggles of previous growth industries such
    as tourism.
    5. The country also risks serious declines in
    education outcomes and online schooling likely
    to continue through 2021.
    6.Continued conflict between government forces
    and remnants of the communist New People’s
    Army and small numbers of ISIS-aligned groups in
    Mindanao will dominate security concerns.
    7. The current equilibrium with China will
    likely continue in the West Philippine Sea.
    8. President Duterte’s popularity will
    remain until the National elections for
    May 2022.
    ACTIVITY: How to Survive in the Post-Pandemic Period

    1. Identify at least one (1) industry/business that will rise in


    the next decades to come; Why?

    2. Identify a skill /competency that you intend to acquire


    in order to survive the post-pandemic period; Why?
    References:

    • https://www.flandersinvestmentandtrade.com/export/nieuws/coronavirus-situation-
    philippines
    • https://doh.gov.ph/2019-
    nCoV?gclid=Cj0KCQiA1pyCBhCtARIsAHaY_5f9QiEDLHx_5lj5wMOhDK09l9itsWoOHFGZ774UTD
    1Ute_Zr6Su9PkaAkV1EALw_wcB
    • https://www.ceicdata.com/en/indicator/philippines/unemployment-rate
    • https://theconversation.com/which-jobs-are-most-at-risk-from-the-coronavirus-shutdown-
    134680
    • https://www.philstar.com/headlines/2021/02/12/2077147/guidelines-limited-face-face-
    classes-college-okd
    • https://asiafoundation.org/2021/01/19/our-predictions-for-2021-following-a-year-that-defied-
    prediction/
    LESSON 4

    Faculty

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