Economic interdependence refers to some measure of the value of economic transactions between two countries, or between a country and the rest of the world, perhaps scaled to total national output or to some measure of total financial assets. It provides a medium wherein states, corporations, and private individuals can be involved in free trade. It affects the sovereignty of the state, as the state is to conform into following economic polices and joining the global economic system.

2. ECONOMIC AND POLITICAL INTEGRATION

Economic integration can reduce the costs of trade, improve the availability of goods and services, and increase consumer purchasing power in member nations. Employment opportunities tend to improve because trade liberalization leads to market expansion, technology sharing, and cross-border investment.

It created partnerships among states, which have their own political and economic rights among the members that are in those partnerships. Members have to conform to these standards and policies therefore it affects political and economic sovereignty of the state.

3. THE RISE OF INTERNATIONAL LAW AND UNIVERSAL PRINCIPLES

As a result of globalization, interrelationships between states, international institutions, local and international non-state actors, and of course, ordinary people have been created. This led to the creation of international law and universal principles, international institutions, transnational networks and global non-governmental organizations. 

•International Institutions affect the existence of the state as its leaders join such institutions and conform to its standards too quickly, that they are not able to manage and properly implement such standards.

•The existence of transgovernmental networks, causes nation-states to solve their problems alongside other governments of the world. Institutions of the state extend to other nations, it separates from the nation.

•Non-governmental actors subject states and governments to evaluations and ranking. This information is shown to the public which causes the states to implement methods in agreeing with the standards that is set to obtain moral credibility. States comply to these standards that organizations demand.

People become more aware of what is happening around the world because of technology. It enables them to demand accountability from the states/governments, global institutions, and transnational corporations.

5. THE RISE OF TRANSNATIONAL ACTIVISM

There has been the rise of transnational activists who hope for a better future. People have realized they are facing the same challenges, which made people from all over the world to come together and demand change from the state/governments of the world.

Economic growth is a result of economic interdependence. Specialized industries can thrive as a result of this partnership. Success can also lead to job and wage/salary improvements, as well as an overall gain in income and lifestyle. It is clear that with this level of trust, there is less of a desire to go to war. Countries with weak economic interdependence are not necessarily dangers, but they do have limited bargaining leverage.

Economic interconnectedness appears to favor politically powerful countries. Nonetheless, international trade does not lessen the risk of future wars. In light of this, some people see globalization as a drawback of economic interconnectedness. Companies becoming multinationals, which is becoming more common with the rise of online buying, may/will have an impact on those from whom they receive a product. When trading across borders, if one side is unable to obtain resources, the other parties suffer financially and socially.

2. Foreigners are prohibited from owning land in the Philippines, but can legally own a residence. The Philippine Condominium Act allows foreigners to own condo units, as long as 60% of the building is owned by Filipinos. If you want to buy a house, consider a long-term lease agreement with a Filipino landowner.

3. International importation of goods in the Philippines continues to grow – as a way to solve this we should balance the resources that we need to import in other countries in order for us not to oversupply.

4. Philippines must build strong armed forces. Philippines has been overly dependent on the United States for its external defense. In the 1950s and early 1960s, the Philippine economy ranked as the second most progressive in Asia. The insurgency has forced the government to focus on quelling internal armed struggle.

5. Unemployment because it takes time for people to learn the requisite skills to operate in a specific industry, labor resources are typically occupationally immobile. As a result, when there is an oversupply of labor in a particular industry or when there is a recession, people who become unemployed are unable to find work quickly or easily because they cannot be employed in the industry that requires their skills and also because they may not have sufficient skills to work in other industries. As a result, the government can sponsor retraining programs for the unemployed so that they can improve or learn new skills that will help them find work.

One approach that could be implemented in the Philippines is to reduce occupational immobility. Every year, there is an oversupply of labor and a large number of graduates who become unemployed. By enrolling them in retraining courses, individuals can learn new skills that will help them re-enter the workforce.