Which has further hindered the flow of goods

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Reference no: EM133371118

Positive: The news article highlights the importance of the services sector in the Philippines economy and how it has remained resilient despite the lockdowns due to COVID-19. The report also mentions that the manufacturing sector has been able to survive the pandemic and has been able to benefit from the measures taken by the Philippine government to ensure the stability of the economy. This shows that the economy of the Philippines is capable of adapting to the new challenges posed by the pandemic and is resilient to the changes that have occurred due to the pandemic.

Negative: The news article highlights the fact that the trade within the Philippines has been affected by the pandemic, with an average of 24% reduction in exports and 13% reduction in imports compared to 2019. This has a significant impact on the economy of the Philippines, as it affects the flow of goods and services necessary for economic growth and development. The pandemic has also caused disruptions in the global supply chains, which has further hindered the flow of goods and services between countries. This has resulted in a decrease in international trade, which is a clear indication of the negative impacts of the pandemic on globalization.

Reference no: EM133371118

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