Objectives:: Rizal Technological University
Objectives:: Rizal Technological University
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14. Austria 0.955
Less Economically Developed 15. Spain 0.955
16. Denmark 0.955
Countries (LEDCs) – The countries in the
17. Belgium 0.953
south may be considered Less Economically 18. Italy 0.951
Developed Countries due to a number of 19. Liechtenstein 0.951
reasons, among them including an unstable 20. New Zealand 0.950
government and poor economy countries that 21. United Kingdom 0.947
are considered to be an LEDC contain citizens 22. Germany 0.947
who have a poor standard of living and quality 23. Hong Kong 0.944
of life. There are two characteristics in this 24. Singapore 0.944
region, low Gross Domestic Product (GDP) and 25. Greece 0.942
low Human Development Index (HDI).
Bottom 25 Countries With The Lowest HDI
158. Nigeria 0.51
Advantage of the South – Of the many
1
possible reasons for the south woes, the factor 159. Togo 0.49
that stands out is colonization. 9
160. Malawi 0.49
HUMAN DEVELOPMENT INDEX 3
161. Benin 0.49
(MEDCS AND LEDCS)
2
A reliable way to determine the 162. Timor-Leste 0.48
“Northern” countries from the “Southern” 9
countries is an observation of Human 163. Ivory Coast 0.48
Development Index (HDI). It is a measure of the 4
standard of living within a country. The HDI of a 164. Zambia 0.48
country is always a number between 0 and 1, 1
165. Eritrea 0.47
with 0 being the lowest or poorest, and 1 being
2
the highest or best.
166. Senegal 0.46
4
Top 25 Countries with The Highest HDI 167. Rwanda 0.46
1. Norway 0.971 0
2. Australia 0.970 168. Gambia 0.45
3. Iceland 0.969 6
4. Canada 0.966 169. Liberia 0.44
5. Ireland 0.965 2
6. Netherlands 0.964 170. Guinea 0.43
7. Sweden 0.963 5
8. France 0.961 171. Ethiopia 0.41
9. Switzerland 0.960 4
10. Japan 0.960 172. Mozambique 0.40
11. Luxemburg 0.960 2
12. Finland 0.959 173. Guinea-Bissau 0.39
13. United States 0.956 6
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174. Burundi 0.39 After the initial colonial conquest, other
4 cultural groups from Africa and Asia were added
175. Chad 0.38 to this mix of native people and Iberian people,
2 making it one of the world’s most racially
176. Democratic Republic of Congo 0.38
diverse regions.
9
177. Burkina Faso 0.38 French geographers coined the term
9 Latin America to distinguish the Spanish- and
178. Mali 0.37 Portuguese- speaking republics and the Haiti
1 from the English-speaking territories. There is
179. Central African Republic 0.36 nothing particularly “Latin” about the area
9 other than the predominance of the Romance
180. Sierra Leone 0.36 languages.
5
181. Afghanistan 0.35
2 LATIN AMERICA IN THE GLOBAL
ECONOMY
Globalization of Latin America In 1990’s the Latin America
Panama Canal is a powerful symbol governments and the World Bank became
of global trade of the Latin America by the champions of neoliberalism as a sure path to
United States opened in the year 1914. Year economic development.
2000 was when the Panamanians had the Neoliberalism accentuated the forces
power to control and manage the trade. Ports of globalization by turning away from policies
around North America and Europe have also that emphasize the state intervention and self-
retrofitted to adjust for the arrival of larger post- sufficiency. This neoliberalism includes the
Panamax ships. The timing of this expansion is following benefits for the political leaders;
especially important, considering potential increased trade, greater foreign investment and
competition from Arctic sea routes opening up more favorable terms for debt repayment.
as a consequence of climate change.
Indicators That Reflects the
Nicaraguan Canal is a new project in
Integration Of Latin America Into
year 2014 financed by Wang Jing and been
Global Labor Markets:
approved and the Hong Kong Nicaraguan
Development Investment (HKND) Group was
formed. It was estimated costing $50 billion to Maquiladoras and Foreign
be constructed in five years. Investment
More than 500 years ago, Spain and The growth in foreign investment and
Portugal began their conquest of the Americas the presence of foreign-owned factories are
and left lasting marks in Latin America; officially, examples of neoliberalism. Maniquiladoras are
two-thirds speaks Spanish and the rest speaks Mexican assembly plants constructed in 1960’s
Portuguese. Iberian architecture and town that are in line the border of the U.S. are
design add homogeneity to the colonial characteristic of manufacturing systems in an
landscape. increasingly globalized economy.
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With NAFTA, foreign-owned currency. In a totally dollarized economy, the
manufacturing plants are no longer restricted to U.S. dollar became the only medium of
the border zone and are increasingly being built exchange and the national currency.
near the population centers. The city of It is a common strategy in Latin America is
Chihuahua, a four-hour drive U.S. and Mexico limited dollarization in which the dollars
border is a center for aerospace wherein in the circulates and are used alongside the country’s
past decades over three dozen of aerospace national currency. It is a type of insurance in
plants have opened there providing parts for Latin America because the region’s economies
the U.S. airplane manufacturing business. are prone to currency devaluation and
Honduras, Guatemala and El Salvador are hyperinflation.
drawing foreign investors, especially with Dollarization, partial or full, tends to reduce
apparel industry. A recent report from El inflation, eliminate fears of currency
Salvador claims that not one of its apparel devaluation and reduce the cost of trade by
factories has a union. elimination currency conversion costs. Still
There is a different situation in Costa dollarization has drawbacks, one is the country
Rica, they have been a major chip manufacturer has no longer control of its monetary policy,
for Intel since 1998 and they are now attracting foreign governments do not have to ask
other high-tech firms. Officials are hoping that permission to dollarize their economies and the
from banana republic to a high-tech U.S. insists that all its monetary policies be
manufacturing center. based exclusively on domestic considerations.
Uruguay on the other hand, has The Informal Sector
recently emerged as the leader in Latin This is a provision of goods and services
American “outsourcing” operations. They are without the government regulation, registration
taking advantage of being in a time zone similar or taxation. Most people in the informal
to that of the eastern U.S. while India’s top economy are self-employed and receive no
engineers sleep, Uruguayan engineers and wages or benefits except profits they clear.
programmers can serve their customers from The informal sectors have some
Montevideo. advantages--- hours are flexible, children can
work with their parents and there are no
Remittances bosses. It reflects the inability of the formal
This is debatable whether remittance can economies of the region, especially in the
actually lead to sustained development or a industry to provide enough jobs for many
simply survival strategy. Remittances are the people seeking employment.
surest way to alleviate poverty, even though
they depend on an international migration THE GLOBAL REACH OF THE
system that is constantly changing and includes
LATINO CULTURE
both legal and illegal channels of movement.
Latin American culture is widely
recognized throughout the world, whether it is
Dollarization
sultry pulse of the tango of the fanaticism,
This is a process by which a country adopts soccer, arts and writers such as Jorge Luis
in whole or in part the U.S. dollar as its official Borges, Gabriel Garcia Marquez and Isabel
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Allende. In popular culture is musical artist such European Union (EU) - is a unified trade
as Shakira from Colombia and Max de Castro of and monetary body of 28 member countries.
Brazil. Through music, literature, art and even It eliminates all border controls between
telenovelas, Latino culture is being transmitted members. That allows the free flow of goods
to the eager worldwide audience. and people, except for random spot checks for
crime and drugs. The EU transmits state-of-the-
Telenovelas art technologies to its members. The areas that
Telenovelas are popular nightly soap benefit are environmental protection, research
operas are a mainstay of Latin American and development, and energy.
television. Unlike U.S., the dramas end, usually
after 100 episodes. The usual megahits Association of South East Asian
telenovelas are thos form Mexico. Their stories Nations (ASEAN) - purpose is to
were predictably scripted as Mexican Cinderella form a European Union type of common
stories, these sagas the underclass women who market. The ASEAN Economic Community was
falls in love with the members of the elite established in 2015. It is working toward free
battling jealous rivals and ultimately emerging movement of goods and services,
triumphant seem to resonate with fans around investment and capital, as well as skilled labor.
the world. It will also create common standards in
agriculture and financial services, intellectual
property rights, and consumer protection.
Soccer
These are all necessary to attract foreign direct
Soccer has a fanatical following investment and promote growth. AEC has
throughout much of the world as a global sport. identified 611 measures it must implement to
it is specifically in South America, where futbol achieve its goals. Almost 80 percent of these
or football is considered a cultural necessity, a measures have been completed.
largely male game. The soccer stadium of
Buenos Aires and Rio de Janeiro are regarded as
Globalization – It is a process of
shrines to the game.
international integration arising from the
interchange world views, products, ideas and
2. ASIAN REGIONALISM
other aspects such as technology etc.
In economic point of globalization is a
Regionalization – is the establishment of
process of making world’s economy more
new regional treaties and accords aimed to
integrated the process of bringing more and
increase the cooperation, integration, or
more part of the world together into one
political involvement between states in a
seamless economy. Regionalization on the other
specific region. According to Telo (S17). It is a
hand, is the process the process that generally
process of dividing an area into smaller segment
similar to globalization, but can compete with it
of regions, it is also the division of nation into
to some degree.
states or provinces.
The main similarity is that, in both
cases, there is a movement towards economic
integration of more than one country. In
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regionalism, you have countries of a region process. In the early modern period (1500-
intergrade their economy (ex. ASEAN, NAFTA 1800) as maritime trade gradually replaced
EU). In globalization, more than one region is overland transportation, the Silk Road declined
involved. and all but disappeared. Currently, however.
Although the two similar, China is partnering with Russia, Kazakhstan,
regionalization can be opposed to globalization. Kyrgyzstan and several other Central Asian
This occur when region tries to integrate itself, countries to build a New Silk Road based on
but then put up barriers against the rest of the railways and modern highways.
world Most authorities agree that the region
includes five former soviet republics:
Asian Integration Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan
The development of regionalism in Asia and Turkmenistan. This chapter adds another
has been most limited in the three regions; former soviet state, Azerbaijan as well as
Middle East, Central Asia and Russia. The Mongolia and Afghanistan.
genuine regionalism process in Asia is the Including these additional territories in
happening only in the association of Southeast central Asia is controversial. Azerbaijan is often
Asian Nations (ASEAN). classified with its neighbors in the Caucasus
(Georgia and Armenia) ,Western China fully
Economic Integration belongs to East Asia on political grounds,
East and south are home to Mongolia is also often considered East Asian.
breathtaking economic diversity. At one end of a
spectrum are the advanced economies of Japan, International Dimensions of Central
South Korea, Taiwan, Hong Kong and Singapore. Asian Tension
At the other end are least-developed economies With the collapse of the Soviet Union in 1991,
such as Nepal, Bangladesh, Cambodia, Laos and Central Asia emerged as a key arena of
Myanmar. Then there are low income countries geopolitical tension. China, Russia, Pakistan,
notably China and India but also including Sri Iran, India and the United States have competed
Lanka, Vietnam Indonesia and the Philippines. for influence in the region. The political revival
In between are upper middle and middle of Islam has also generated international
income Malaysia and Thailand, there are geopolitical issues. Russia’s economic and
anomalies like North Korea and Brunei. Huge military ties to central Asia aid not vanish when
differences in politics, institution and historical the Soviet Union collapsed.
legacies accentuate the diversity. Hence, it is not Russia and China became concerned
surprising that Asia economic integration, even about the growing influence of the United
in “globalizing Asia” is rather weak. States in central Asia after the U.S military
established bases in Uzbekistan, Kyrgyzstan and
Globalization in Asia Afghanistan following the attacks of September
For hundreds of years the Silk Road was 11, 2001. As a result of two countries formed
a network of paths and facilities that allowed the Shanghai Cooperation Organization (SCO),
trade goods to flow from China to Southeast composed of China, Russia, Kazakhstan,
Asia and Europe crossing central Asia in the Kyrgyzstan, Tajikistan and Uzbekistan.
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The SCO seeks cooperation on such East Asia
security issues as terrorism and separatism and East Asia, which consists of China,
also aims to enhance trade. Taiwan, Japan, South Korea and North Korea, is
Turkmenistan has not joined the SCO or a core area of the world economy, due to both
its advanced economies and its huge
the CSTO. Turkmenistan relative isolation stems
population. China alone, with more than 1.3
from the policies of its former president billion inhabitants, has more people than any
,Saparmurat Niyazov, who forced Turkmens to other world region except South Asia. Japan,
treat him as a heroic savior-figure. South Korea, and Taiwan are among the world’s
The chaotic situation in Afghanistan is generally key trading states. China has more recently
considered Central Asia’s most serious emerged as a key global trading power and has
geopolitical issue as local leaders’ fear that recently emerged as a major military power as
well. According to some measurement, China’s
Islamic radicalism could spread from
rapidly growing economy is already almost as
Afghanistan into their countries. India is also large as that of the United States
concerned about Afghanistan and has sought to
gain influenced in the region. 1. In the second half 20th Century East Asia
was politically divided, with the
Post-Communist Economies capitalist economies of Japan, South
Korea, Taiwan, and Hong Kong
During the communist period, state
separated from the communist bloc of
planners sought to spread economic China and North Korea.
development widely across the soviet Union.
This effort required building large factories even 2. By the early 21st Century the division
in remote areas of Central Asia, regardless of within East Asia had been reduced.
the costs. Such Central Asian industries relied China is still governed by the
Communist Party but has been on a
heavily on subsides from the soviet
path of mostly capitalist development
government. When those subside ended the since the 1980s.
regions industrials base collapsed, leading to a
huge drop in the standard of living. ECONOMIC AND SOCIAL
Since the beginning of the 21st century DEVELOPMENT:
Kazakhstan, Azerbaijan and Turkmenistan have
benefited from their energy resources. Today A Core Region of the Global
Kazakhstan is Central Asia most developed Economy
country, with a productive agricultural sector, East Asia contains vast disparities in
the world’s 12th largest reserves of oil and its economic and social well-being. Japan’s urban
18th largest reserves of natural gas. The regions belt has one of the world’s greatest
oldest fossil fuel industry is located in concentrations of wealth, whereas many of
Azerbaijan. China’s interior districts remain relatively poor.
Uzbekistan retains many aspects of the Overall, East Asia has experienced rapid
old Soviet-style command economy, or the state economic growth since the 1970s, but this
run industries, rather than market-oriented growth has not been evenly distributed.
private firms.
Japan’s Economy and Society
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and Asian Regionalism
Japan was the pacesetter of the world companies are themselves
economy in the 1960s, 1970s and 1980s. In the becoming multinational.
early 1990s the Japanese economy experienced TAIWAN AND HONGKONG - They have
a major setback, and growth has remained slow also experienced rapid economic growth since
ever since. the 1960s. Taiwan’s government, like those of
South Korea and Japan, guided the country’s
The Thriving Economies of South economic development, especially during the
early phase of industrial expansion. Hong Kong,
Korea, Taiwan, and Hong Kong
unlike its neighbours, has been characterized as
The Japanese path to development was
one of the most laizzes-faire economic systems
successfully followed by its former colonies,
in the world.
South Korea and Taiwan. Hong Kong also
emerged in the 1960s and 1970s as a newly
BOOM AND BUST - Japan was forced to
industrialized economy, although its economic
and political systems are different. export manufactured products. Beginning with
inexpensive consumer goods, Japanese industry
moved to more sophisticated products,
South Korea’s Rise- The postwar rise of
including automobiles, cameras, electronics,
South Korea was even more remarkable than
machine tools, and computer equipment.
that of Japan. During Japanese occupation,
1. 1800s: Japan’s heavy
Korean industrial development was
industrialization began and most of
concentrated in the north, which is rich in
its people remained poor.
natural resources.
2. 1950s: The beginning of the
1. 1960s: the South Korean Japanese “economic miracle” .
government began a program of
3. 1980s: Japan was the leader in
export-led economic growth.
many segments of the global high-
2. 1970s: such policies had proved tech economy.
highly successful in the economic
4. Early 1990s: The collapse of
realm. Huge Korean industrial
Japan’s inflated real estate market
conglomerates, known as chaebol,
moved from exporting inexpensive
Living Standards and Social
consumer goods to heavy industrial
products and then to high-tech Conditions in Japan - Despite high levels
equipment. economic development, Japanese living
3. 1980s: South Korea made the standards remain somewhat lower than those
transition from authoritarian to of the United States. Housing, food,
democratic country. Their firms transportation, and services are particularly
remain dependent on the United expensive in Japan. But the Japanese also enjoy
States and Japan for basic many benefits unknown in the United States.
technology.
4. 1990s: South Korea invested Women In Japanese Society -
heavily in education, which has Advanced career opportunities remain limited,
served it well in the global high- especially for women who marry and have
tech economy. South Korean
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and Asian Regionalism
children. Mothers are expected to devote perhaps the fastest rate of expansion the world
themselves to their families and to their has ever seen.
children’s education China's Booming Coastal Region -
Most of the benefits from china's economic
Chinese Development transformation have flowed to the coastal
China dwarfs all of the rest of east asia region and to the capital city of Beijing. The
in both physical size and population. It’s southern provinces of Guangdong and Fujian
economic takeoff is thus reshaping the economy were the first benefit, profiting from their close
of the entire world. Despite its recent growth connections with the overseas Chinese
however Chinas economy has several communities of Southeast Asia and North
weaknesses. America.
For example, much of the vast interior was By 1990s the Yangtze Delta centered on
remains poor, many of its heavy industries are Shanghai re-emerged as china economic core
not debt unoccupied. The future of Chinas Chinese government has encouraged the
economy is one of the biggest uncertainties development of huge industrial, commercial
facing both East Asia and the world as a whole. and residential complexes.
This basic strategy was to attract foreign 1991- Soviet Power collapsed it experienced a
investment that could generate exports, the severe blow. No longer able to afford sufficient
income from which could supply china with fertilizer, its agriculture system sharply declined
capital to build its infrastructure. Chinese leasing to severe famines.
economy grew at roughly 10 percent a year,
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2013 - UN report indicated that roughly 25 surpass East Asia as the world's most populous
percent of North Korean children suffer from region. Geopolitical tensions also persist both
chronic food insecurity and hunger, electricity within and among the various countries of the
and other basic services remain scarce. region. Since gaining independence in 1947,
India and Pakistan have fought several wars and
2002- Farmer markets legalized but several remain locked in conflict. Political tensions have
years later it shut most of them down. reached such heights that some experts
consider South Asia the most likely site for
nuclear war. Religious divisions contribute to
2012- Private farming and food selling with
the geopolitical turmoil for India is primarily a
some success.
Hindu country while neighboring Pakistan and
Bangladesh are both predominantly Muslim.
North Korea opened a number of
Special Economic Zones in which foreign firms
mostly South Korean and. Chinese GEOGRAPHIES OF ECONOMIC
DEVELOPMENT
2013 - 14 zones were established, increasingly
exporting its own people to work in foreign The Himalayan Countries - Both Nepal
countries under government contracts and Bhutan are disadvantage by their rugged
terrain and remote locations and by their
2014 - The rate of North Korea economy relative isolation from modern technology and
expand infrastructure.
2015 - UN report claimed that tens of Bangladesh – The regions poorest county is
thousands of North Koreans work under slave the Bangladesh. Environmental degradation and
like conditions in labor camps in Russia, China colonialism have contributed to Bangladesh’s
and the Arabian Peninsula poverty, as did the partition of 1947.
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and Asian Regionalism
South East Asia environmental degradation and the loss of land.
South East Asia is a land of extreme Political strings are also tied to these projects.
developmental differences. In South East Asia
the disparities of wealth are particularly ISSUES OF SOCIAL DEVELOPMENT
pronounced. Singapore is one of the world’s Life Expectancy and Education –
richest and most technology sophisticated Southeast Asia has achieved relatively high
countries, whereas Laos remains one of Asia’s levels of social welfare. In the poorer countries
poorest countries. Yet even the most poorest of the region, however, life expectancy is still
countries including Myanmar, Cambodia, and below 70 years and the female literacy rates are
East Timor as well as Laos have experienced below 70 percent in Laos and Cambodia.
rapid economic development in recent years.
Gender Equity and the Sex Trade –
GLOBALIZATION AND THE Southeast Asian society’s exhibit contradictory
SOUTHEAST ASIAN ECONOMY views on the social position of women.
Southeast Asia as a whole has rapidly Historically speaking, Southeast Asia has long
integrated into the global economy. The region been noted for its gender equity. Women in the
is one of the world’s premier tourist region played important economic roles as
destinations, noted for its beautiful beaches, household managers and market vendors.
tropical climate, rich culture, and moderate Commercial sex is huge business in
prices. Tourist arrivals have been growing by Thailand. Despite its massive scope, prostitution
more than 10 percent a year since 1995. is technically illegal in Thailand, which means
that it is a major source of corruption. Other
Globalization Controversies –Global Southeast Asian countries – globally oriented
economic integration has undoubtedly brought commercial sex trade. Many workers in
significant development to Singapore, Malaysia, Southeast Asian brothels are underage, and
Thailand and even Indonesia. Outside of many have been coerced into the activity.
Singapore and Malaysia, however economic A large Southeast Asian business
expansion has generally been based on labor connected with the sex trade is surrogacy
intensive manufacturing, in which workers are services, in which infertile couples desiring a
paid low wages and subjected to harsh child pay to have embryos implanted in local
discipline. Much of the labor of Southeast Asia’s women to carry in them.
exporting companies comes from women, who
are often paid much less than men doing the References:
same work. China figures prominently in the
recent globalization of Southeast Asian https://www.slideshare.net/ananthaprabhu31
Economies. It has invented heavily in /regionalization-vs-globalisation
infrastructural projects, most notably in Laos,
Burma, and Cambodia. Southeast Asian leaders https://www.thebalance.com/what-is-the-
are generally pleased with Chinese investments, european-union-how-it-works-and-history-
but local residents are often angered over 3306356
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The Contemporary World, pp. , J.F. Andrada, C.D
Austria, A.C Castañeda
Prepared by:
Bernales, Isabel G.
Dagmil, Cristine Joy P.
Latonio, Princess
Limon, Emma D.
San Felife, Lyza Marie
Se, Jennilyn
Sinugbuhan, Janferson
Checked by:
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and Asian Regionalism