The Role of Local Governments in the Global Economy

6967 words 28 pages
NOYO OSAGHAE
1/30/2012
I HAVE NEITHER GIVEN NOR RECEIVED, NOR HAVE I TOLERATED OTHERS’ OF UNAUTHORIZED AID

THE ROLE OF LOCAL GOVERNMENTS IN A GLOBALIZED ECONOMY
Recent developments in the global economy would seem to suggest that it is in the interest of states to be integrated into the global economy, although it is also obvious that most would like to do so in the most beneficial and equitable ways. The increase in the number of states seeking membership in the World Trade Organization is perhaps evidence enough that states, whether developed or underdeveloped, democratic or non-democratic, want to play a role in the World Liberal Order. The circumstances under which states are influenced to be integrated into the global economy
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An analysis of the issues in the local export sector that PHILEXPORT Cebu seeks to address is further evidence of the impact-reaction relationship shared by the local community and the global economy. The author further identifies the attempts by the local export community to incorporate the latest information gathering trends and tips on helpful websites, as well as, models of information service of successful business chambers in Western Europe and developing countries into their pattern of activity. This is can be considered as perhaps another reaction by this sector to cope with the competitive nature of the global economy. With regards business, she points out the global economy’s influence on the local community stating “the effect of the GATT/WTO agreement attendant with globalization can be felt especially in the retail and manufacturing sectors. Visible effects are in the flooding of goods from China in the downtown area and even in the closure of some long-established manufacturers”. The response to this is the effort by the local administration to promote business and enterprises (especially small and middle scale) through “trade promotions, fairs and exhibits giving emphasis to small and medium enterprises in exploring a wide range of local market as well as in the international market, trade missions to explore international business linkages, and

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