THE Philippine Institute for Development Studies (PIDS) raised concerns on the challenges brought by globalization, saying it could weaken economic growth.
PIDS President Celia Reyes said there is a need to raise awareness on the new wave of globalization “characterized by volatility, uncertainty, complexity and ambiguity given the complex, interrelated challenges it brings.”
The challenges are manifested in trade wars, environmental degradation, public health threats, worsening poverty and inequality, and proliferation of disinformation, which could derail efforts to develop the economy, she added.
“If these challenges are not managed well, they can undermine the ability of the Philippines to sustain its rapid economic growth and attain its long-term development vision of a matatag, maginhawa, at panatag na buhay para sa lahat (stable, comfortable and peaceful life for all), as well as its targets under the Sustainable Development Goals,” she said as the agency kicked off its 2019 Development Policy Research Month celebration with the theme “Navigating the New Globalization: Local Actions for Global
Challenges.”
“Through this theme, we hope to promote awareness of changing globalization. We intend to enlighten out stakeholders on the various challenges that come along with this new globalization, notably the issues of rising protectionism, worsening inequality trends, worldwide economic restructuring, widening polarization and proliferation of disinformation,” Reyes said.
As part of the celebration, PIDS will host on September 19 the 5th Annual Public Policy Conference where it will tackle challenges and implications of the new globalization.
The conference aims to convene experts and researchers, and bring to the attention of lawmakers critical issues that must be addressed in the immediate term.
