Global Economy and UN Goals

Study Notes

In the Philippines, the poverty line is set at ₱100,534 annually, or ₱275 daily.
Extreme poverty defined as severe deprivation of basic human needs, affecting 836 million people globally, down from 1.9 billion.
The World Bank forecasts a drop in extreme poverty to less than 400 million by 2030, assuming continued progress despite climate change concerns.

Access to education improves living conditions and opportunities.
Humanitarian aid supports the most vulnerable populations.
International organizations like the UN contribute to initiatives for development.
Economic globalization plays a crucial role by connecting world economies, promoting free trade that benefits developing nations.

Defined as the increasing interdependence of economies due to cross-border trade, capital flow, and technology spread.

Protectionism:
- Involves government intervention to promote domestic production over foreign competitors through tariffs and quotas.
- Countries like China, Japan, and the US have faced accusations of protectionist policies.
Trade Liberalization:
- Focuses on social, economic, and environmental well-being of marginalized producers.
- Goals include worker protection, just pricing, environmentally sound practices, and nurturing North-South producer-consumer relationships.

Global trade's main criticism centers on sustainability and the Earth’s resource usage for future needs.
Sustainable Development:
- Aiming for resource use that meets today's needs while preserving for future generations.

Positive impacts include enhanced energy utilization, technological discoveries, and advancements in transportation and communication.
Negative impacts consist of accelerated climate change, persistent global inequality, and environmental degradation.
The Industrial Revolution accelerated economic development, leading to increased carbon emissions and environmental harm.