International Labour Office Policy Integration Department The Philippines in the global economic crisis: the social and local dimensions Lourdes Kathleen Santos[1] A Technical Note for the Policy Coherence Forum Overcoming the Jobs Crisis and Shaping an Inclusive Recovery: The Philippines in the aftermath of the global economic turmoil 11 – 12 March 2010 Philippines March 2010
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Oil Crisis When thinking about the 1970s‚ many words such as hippy‚ lava lamps‚ and tie-dye come to mind. However‚ there was much more going on during this decade than that. The 1970s‚ for those who lived in it remember having to wait in long lines at gas stations due to gas shortages. This became known as the oil crisis‚ which occurred in 1973 and 1979. Both of these crises caused a recession. As this comes with any recession‚ households and firms became uncertain about the future and weary of
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Economic Crisis in Nigeria. NIGERIA. (google)The evolution of Nigeria was from about 1849 until it attained independence in 1960. During this period a lot of events occurred‚ and is largely the story of the great impact of the British on the Nigerian people. The colonial authorities (British) sought to define‚ protect and realize their imperial interest in the portion of West Africa because of its endowment with natural resources‚ apparently this occurred about hundred years ago. The British was
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In the second half of the nineteenth century‚ there was a second Industrial Revolution in Western Europe that brought new industries‚ sources of energy‚ and goods. This changed the entire human environment and Europeans believed that this material progress was a sign of human progress; they thought that the new scientific and technological accomplishments would improve humanity and solve all of their human problems. Western Europeans’ views began to change; there were new concepts and ideas that
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In the late nineteenth and early twentieth century‚ the United States issued an aggressive policy of expansionism. This policy was meant to extend its political and economic influence around the globe. Before the new imperialism began‚ the old imperialism had begun. This meant that the European nations were trying to find a direct trade route to Asia during this age. However‚ they gained new land and established colonies in the Americas‚ India‚ South Africa‚ and the East Indies. They also gained
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The twentieth century was shaped by scientists‚ leaders‚ civil rights workers‚ entertainers‚ and so many more. Throughout the last half of the 20 century‚ many leaders have come to power to create great change in their nations. Such leaders as Ayotollah Khomeini‚ And Mahandas Gandhi has led their nations to independence by nationalism and civil obedience. From genocide of the Africans to abolishing westernization‚ some kf these changes have had positive as well as negative effects on their nations
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Economic Crisis: Solutions Global crisis is clearly felt nowadays‚ not only by third world countries but also by the richer and industrialized countries. Uprisings are recurring in different parts of the world by people who want change and a better life. Even in our country‚ the crisis is getting heavier each day. But then the real question is not the “what”‚ but more so‚ the “how”. How do we really resolve this problem? It is not unknown to us that the Philippines is in fact a country rich in
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During the 1860’s America was in a period of economic hardship due to the ongoing demand for materials and money to fund the war. In the South‚ sufficient money and materials were hard to acquire because the southern economy still depended on the labor of slaves to produce their goods and income rather than factories. The Northern economy used numerous factories to produce goods and make profit for the war‚ but they still did not have technology that was advanced enough to easily produce all the
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The economic crisis began when the U.S. government subsidized mortgages for families and individuals who could not afford to buy homes. By doing so‚ the demand for housing skyrocketed‚ resulting in increased home values. Meanwhile‚ mortgage companies and banks celebrated their financial incentive to provide loans to anyone‚ regardless of credit history. The combination of falsely inflated home prices and “generous” bank loans burst the artificial bubble of prosperity Americans were enjoying. As home
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decreased which led to a decrease in demand .The vicious cycle of low demand –decrease in production –job cuts began . Is the present Indian economy in the midst of an economic crisis? Yes ‚ we are whether the government would like to admit to it or not . How else would you describe a situation where economic growth has collapsed‚ industrial output has stagnated for two years‚ jobs are being shed‚ consumer inflation is close to 10 per cent‚ gold prices are rising by the hour ‚ the current
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