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Foreign trade significantly impacts the Philippine economy by driving economic growth, creating jobs, and enhancing access to goods and services. Exports contribute to national income, while imports provide essential resources and technologies that support local industries. Additionally, trade fosters foreign investment and strengthens international relations, which can lead to further economic opportunities. However, reliance on trade can also expose the economy to global market fluctuations and external shocks.
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How gatt affect the Philippine economy?
The General Agreement on Tariffs and Trade (GATT) has significantly influenced the Philippine economy by promoting trade liberalization and reducing tariffs, which has encouraged exports and foreign investment. This increased access to international markets has supported the growth of various sectors, such as agriculture and manufacturing. However, it has also exposed local industries to foreign competition, which can challenge domestic producers. Overall, GATT has played a crucial role in integrating the Philippines into the global economy.
What type of economy does Philippine have?
free trade
What is the absolute advantage of trade in Philippine economy?
An absolute advantage is when trading only occurs between one or two parties. This is common in the Philippine economy since most industries are monopolistic.
What happened in the Philippine economy in 1993?
In 1993, the Philippine economy experienced a modest recovery from the economic crises of the late 1980s and early 1990s. The country recorded a GDP growth rate of around 3.6%, driven by improvements in exports and foreign investments. However, challenges such as high inflation and unemployment persisted, reflecting ongoing structural issues within the economy. Additionally, the government implemented reforms aimed at liberalizing trade and attracting more foreign direct investment.
How did high tariffs damage the US economy?
By angering foreign trade partners
How gatt affect the Philippine economy?
The General Agreement on Tariffs and Trade (GATT) has significantly influenced the Philippine economy by promoting trade liberalization and reducing tariffs, which has encouraged exports and foreign investment. This increased access to international markets has supported the growth of various sectors, such as agriculture and manufacturing. However, it has also exposed local industries to foreign competition, which can challenge domestic producers. Overall, GATT has played a crucial role in integrating the Philippines into the global economy.
What type of economy does Philippine have?
free trade
How did foreign affect Ming china?
How did foreign trade affect Ming china
How did the tariffs damage the U.S economy?
By angering foreign trade partners- apex
What is the absolute advantage of trade in Philippine economy?
An absolute advantage is when trading only occurs between one or two parties. This is common in the Philippine economy since most industries are monopolistic.
What happened in the Philippine economy in 1993?
In 1993, the Philippine economy experienced a modest recovery from the economic crises of the late 1980s and early 1990s. The country recorded a GDP growth rate of around 3.6%, driven by improvements in exports and foreign investments. However, challenges such as high inflation and unemployment persisted, reflecting ongoing structural issues within the economy. Additionally, the government implemented reforms aimed at liberalizing trade and attracting more foreign direct investment.
What type of economy does Peru live in?
Peru has a market-based economy heavily influenced by foreign trade.
How did trade affect constantinople?
Trade affected Constantinople by increasing foreign affairs. Constantinople began to grow in industry once foreign trade was established.
Why does the us government promote foreign trade?
because he/she wants boost the economy
How did high tariffs damage the US economy?
By angering foreign trade partners
How did high tariff damage the us economy?
By angering foreign trade partners
How high did tariffs damage the us economy?
By angering foreign trade partners
