Global Economy and Millennium Development Goals

• The presentation provides an overview of the global economy, millennium development goals, and economic globalization
• It discusses poverty and how it has declined worldwide

8 Millennium Development Goals

• The United Nations (UN) created eight goals in the 1990s to address global issues

• In September 2000, 189 countries acknowledged the need for partnerships to reduce extreme poverty by 2015

• The first goal is to eradicate extreme poverty and hunger

• Indicators include halving the proportion of people living on less than a dollar a day

• Achieving full and productive employment and decent work for all, including women and young people

• Halving the proportion of people who suffer from hunger

• Globally, the number of people in extreme poverty has decreased by over half

• It went from 1.9 billion in 1990 to 836 million in 2015

• The most progress has been made since 2000

• The proportion of undernourished people in developing regions has almost halved

• It went from 23.3% in 1990-1992 to 12.9% in 2014-2016

• The second goal is to achieve universal primary education

• Indicators include ensuring all boys and girls complete a full course of primary schooling.

• The number of out-of-school children of primary school age worldwide has fallen by almost half

• It went down to 57 million in 2015, from 100 million in 2000

• Sub-Saharan Africa shows the best record in primary education, by achieving a 20% increase in net enrollment from 2000-2015

• This is compared to an 8% gain from 1990-2000

• The literacy rate among youth aged 15-24 increased globally from 83% to 91% between 1990 and 2015, narrowing the gender gap

• The third goal is to promote gender equality and empower women

• Indicators include eliminating gender disparity in primary and secondary education, preferably by 2005, and at all levels by 2015

• The fourth goal is to reduce child mortality

• Indicators include reducing by two thirds the mortality rate for children under five

• The global under-five mortality rate has more than halved, dropping from 90 to 43 deaths per 1,000 live births between 1990 and 2015

• The number of deaths of children under five has decreased from 12.7 million in 1990 to almost 6 million in 2015

• Since the early 1990s, the rate of reduction of under-five mortality has more than tripled globally

• In sub-Saharan Africa, the annual rate of reduction of under-five mortality was over five times faster during 2005-2013 than during 1990-1995

• The fifth goal is to improve maternal health

• Indicators include reducing by three quarters the maternal mortality ratio and achieving universal access to reproductive health by 2015

• The maternal mortality ratio has declined worldwide by 45% since 1990, with the majority of the decline occurring since 2000

• There was a 64% decline in maternal mortality ratio in Southern Asia between 1990 and 2013

• sub-Saharan Africa saw a decline of 49%

• Over 71% of births received assistance from skilled health personnel globally in 2014

• This is an increase from 59% in 1990

• In Northern Africa, the proportion of pregnant women receiving 4+ antenatal visits increased from 50% to 89% between 1990 and 2014

• The sixth goal is to combat HIV/AIDS, malaria, and other diseases

• Indicators include stopping and reversing the spread of HIV/AIDS

• Achieve universal access to treatment for HIV/AIDS

• Halt and reverse the incidence of malaria and other major diseases

• New HIV infections fell by 40% between 2000 and 2013, with the amount of cases dropping from 3.5 million to 2.1 million

• 13.6 million living with HIV receiving antiretroviral therapy (ART) globally in June 2014

• An increase from 800,000 in 2003

• ART averted 7.6 million deaths from AIDS between 1995 and 2013

• Over 6.2 million malaria deaths have been averted between 2000 and 2015, mainly of children under five in sub-Saharan Africa

• The global malaria incidence rate has fallen by an estimated 37% and the mortality rate by 58%

• The seventh goal is to ensure environmental sustainability

• Indicators for this goal include integrating the principles of sustainable development into country policies and programmes and reversing the loss of environmental resources

• Reduce by half the proportion of people without sustainable access to safe drinking water and basic sanitation

• Achieve significant improvement in lives of at least 100 million slum dwellers, by 2020

• Ozone-depleting substances have been virtually eliminated since 1990

• The ozone layer is expected to recover by the middle of this century

• Terrestrial and marine protected areas in many regions have increased substantially since 1990

• Terrestrial protected areas rose from 8.8% to 23.4% between 1990 and 2014 in Latin America and the Caribbean

• 91% of the global population uses an improved drinking water source as of 2015

• An increase from 76% in 1990

• Since 1990, 2.6 billion people have gained access to improved drinking water

• 1.9 billion gained access to piped drinking water on premises

• 58% of the global population now enjoys this higher level of service

• the eighth goal is to develop a global partnership for development

• The indicators of this goal include developing further an open, rule-based, predictable, non-discriminatory trading and financial system

• Addressing the special needs of the least developed countries

• Addressing the special needs of landlocked developing countries and small island developing States through the Programme of Action for the Sustainable Development of Small Island Developing States and the outcome of the twenty-second special session of the General Assembly

• Indicators also include dealing comprehensively with the debt problems of developing countries and providing access to affordable essential drugs in developing countries

• Official development assistance from developed countries increased by 66% in real terms between 2000 and 2014 to $135.2 billion

• 79% of imports from developing to developed countries were admitted duty free in 2014

• This is up from 65% in 2000

• As of 2015, 95% of the world's population is covered by a mobile-cellular signal

• The number of subscriptions has almost tenfold from 738 million in 2000 to over 7 billion in 2015

• There are 3.2 billion people linked to a global network of content and applications

• due to the internet penetration growing from 6% to 43% between 2000 and 2015

Millennium Development Goals Report 2015

• Significant global achievements have been made on many of the MDG targets, progress has been uneven across regions and countries
• Millions of people are being left behind, especially the poorest and most disadvantaged
• Targeted efforts are needed to reach the most vulnerable people
• Gender inequality and climate change persist
• Environmental degradation undermine progress achieved, and poor people suffer the most
• Conflicts remain the biggest threat to human development

Poverty

• Poverty is a condition characterized by severe deprivation of basic human needs like food, water, sanitation, health, shelter, education, and information
• In 2022, the Philippine Statistics Authority set the poverty threshold at PHP12,030 per month for a family of five, or PHP79 per day per person
• People living in poverty in the Philippines are most likely self-employed farmers, fisherfolk, or other agricultural workers
• Three-quarters live in severe disaster-risk areas that are highly rural
• In 2015, about 58% of poor households had > 6 members
• The organization aims to eliminate extreme poverty for all people by 2030
• Poverty is linked to bad governance, corruption, and political dynasties
• In the Philippines, the country's poorest provinces are ruled by political dynasties
• Natural disasters in the Philippines have caused US$23 billion in damages since 1990, which continues to delay the development process
• From 2018-2021, amid the economic recession caused by the COVID-19 pandemic, an estimated 2.3 million Filipinos fell into poverty
• Attributed in part to lockdowns and possibly exacerbated by poor governance

According to a United Nations 2015 Report

• The report concluded that the amount of people in poverty declined from 1.9 billion to 836 million
• The World Bank predicted that the number of people living in extreme poverty could drop to less than 400 million by 2030

Why Extreme Poverty is Falling

• Better access to education, humanitarian aid, and the policies of International Organizations like the UN have made a difference
• The greatest contributor is economic globalization
• Economies have become more interconnected
• Free trade has driven the growth of many developing economies

Economic Globalization

• Economic globalization expands national economies and global markets driven by modern technologies and institutional setups that promote faster and easier transfer of goods and capital
• Global Economy denotes more interconnection from extraction, production, distribution,consumption to disposal of goods and services
• International Financial Institutions: Global financial institutions that supports economic growth through loans and technical assistance to governments and now other private sectors
• Economic Integration is combining or increasing the interconnectivity of national economies to the Global or Regional economies

Actors that drive Economic Globalization

• International Economic Organizations are those such as the World Bank, International Monetary Fund, and Organization for Economic Cooperation and Development
• Multinational Companies like San Miguel, Nestle, Accenture, shell Philippines, Procter & Gamble Philippines, SM, ABS CBN, BDO, Coca Cola
• Central Banks are considered the most important institutions in the world Economy
• Civil Society is the wide array of non-governmental and not-for-profit organizations that have a presence in public life
• They express the interests and values of their members or others, based on ethical, cultural, political, scientific, religious, or philanthropic considerations

Economic Globalization and Global Trade

• Bimetallism is a monetary system where the value of money based gold and silver and was established during the 15th century
• Gold Standard is a monetary system where a country's currency or money has a value directly linked to gold
• With the gold standard, countries agreed to convert paper money into a fixed amount of gold
• A country sets a fixed price for gold and buys and sells gold at that price
• It was proposed by the U.S during 18th century makes this as the first international currency,
• Pump priming is action to stimulate an economy through funding local businesses, but in exchange, those businesses should pay 5% tax to the government
• Great Depression
• Was a severe worldwide economic depression preceding the World War II, 1929 to1939 when USA experienced Great Depression.
• The Great Depression ended from inventions of technology and laws
• Henry Ford created Ford Motors and was a supplier of Military Jeepney
• Railings or Train Systems that used coal or steam to function
• Aldrich - Vreeland Act aims to help the local businesses inside the USA by funds in exchange of 5% tax and the amount goes to emergency funds
• After World War II, the ECONOMIC POLICY shifted from PROTECTIONISM to TRADE LIBERALIZATION
• Free Trade Agreements and Technological Advances in transportation and communication means that the goods and services moves easily
• Leapfrogging is the idea that countries can skip straight to more efficient and cost-effective technologies that were not available in the past
• Fairtrade is the concern for the social, economic, and environmental well-being of disregarded small producers
• To create a more moral and equitable global economic system
• Fair trade is concerned with protection of workers and producers
• To establish more fair prices
• To have engagement in environmentally sound practices and sustainable production
• To promote creation of relationships between producers from the south and consumers from the north
• To increase the number of safe working environments