CHAPTER 1 boosts that moved globalization to a new level.

The invention of the

GLOBALIZATION wheel in addition to roads made the transportation of people and
GLOBALIZATION CONCEPTS, MEANINGS, FEATURES, AND DIMENSIONS goods more efficient. On the other handwriting facilitated the spread
• Globalization is the process in which people, ideas and goods spread of ideas and inventions
throughout the world, spurring more interaction and integration • The Early Modern Period (1500-1750) is the period between the
between the world's cultures, governments and economies. Enlightenment and the Renaissance. In this period, the European
• Globalization is a process of interaction and integration among the Enlightenment project tried to achieve a universal form of morality
people, companies, and governments of different nations, a process and law. This, with the emergence of European metropolitan centers
driven by international trade and investment and aided by and unlimited material accumulation which led to the capitalist world
information technology. This process has effects on the environment, system helped to strengthen globalization.
on culture, on political systems, on economic development and • The Modern Period (1750-1970) Innovations in transportation and
prosperity, and on human physical well-being in societies around the communication technology, population explosion, and increase in
world. migration led to more cultural exchanges and transformation in
• Globalization is about growing worldwide connectivity. traditional social patterns. Process of industrialization also
• There were similarities in features of those prevailing wave of accelerated
globalization before the outbreak of the First World War in 1914 to • The Contemporary Period (from 1970 to present) The creation,
the current wave. There is an increase cross border- trade, expansion, and acceleration of worldwide interdependencies
investment, and migration due to policy and technical developments occurred in a dramatic way and it was a kind of leap in the history of
in the past few decades. It is in the area of economic development globalization.
that observers believe the world has entered a new phase. Today’s
globalization is farther faster, cheaper, and deeper in compared to
earlier wave of globalization. DIMENSIONS OF GLOBALIZATION
• One principal driver of globalization is technology. Economic life is 1. ECONOMIC DIMENSION
dramatically transformed by advancement in information technology. • This refers to the extensive development of economic relations across
All sorts of individual economic actors like consumers, investors, and the globe as a result of technology and the enormous flow of capital
businesses which are valuable new tools for identifying and pursuing that has stimulated trade in both sources and goods.
economic opportunities, including faster and more informed analyses o Major players in the current century’s global economic order
of economic trends around the world, easy transfers of assets, and ▪ Huge international corporations (General Motors,
collaboration with far-flung partners are provided by information Walmart, Mitsubishi)
technologies o International Economic Institutions (IMF, World Bank, The
• Globalization is the process of integration of economies across the World Trade Organization)
world through cross-border flow of factors product and information. o Trading Systems
According to the International Monetary Fund (IMF) globalization is 2. POLITICAL DIMENSION
the growing economic interdependence of countries worldwide • This refers to an enlargement and strengthening of political
through increasing volume and variety of cross border transactions in interrelations across the globe.
goods and services and of international capital flows and through the 3. CULTURAL DIMENSION
more rapid and wide diffusion of technology.
• This refers to the increase in the number of cultural flows across the
• Globalization is an expansion, and intensification of social relations
globe. Cultural interconnections are at the foundations of
and consciousness across world time and world space. It is about
contemporary globalization.
growing worldwide connectivity according to Steger.
4. RELIGIOUS DIMENSION
• Globalization is considered a multi-dimensional process involving
economic, political, technological, cultural, religious and ecological • Religion is a personal or institutionalized set of attitudes, beliefs, and
dimensions. It suggests a dynamic process of change that results in practices relating to or manifesting faithful devotion to an
either positive or negative development. It leads to the creation of acknowledged ultimate reality or deity. It is the most important
something new; it involves the multiplication of social connections defining element of any civilization as contrasted with race, language,
and various activities that transgress traditional and political, or way of life.
economic, cultural and geographical lines 5. IDEOLOGICAL DIMENSIONS
• Ideology is a system of widely shared ideas, beliefs, norms and values
among a group of people. It is often used to legitimize certain political
ATTRIBUTES, QUALITIES OR CHARACTERISTICS OF GLOBALIZATION interests or to defend dominant power structures. Ideology connects
1. It involves both the creation of new social networks and the human actions with some generalized claims. Globalization is a social
multiplication of existing connections that cut across traditional, process of intensifying global interdependence while globalism is an
political, economic, cultural, and geographical boundaries. ideology that gives the concept of neo-liberal values and meanings to
2. Globalization is reflected in the expansion and the stretching of globalization.
social relations, activities, and connections
3. Globalization involves the intensification and acceleration of
social exchanges and activities CHAPTER 2 – LESSON 1
4. 4. Globalization processes do not occur merely or an objective, THE GLOBAL ECONOMY
material level but they also involve the subjective plane of ORIGIN OF ECONOMIC GLOBALIZATION
human consciousness. Without erasing local and national
attachments, the compression of the world into a single place • It can be traced from history the time when there was an economic
has increasingly made global the frame of reference for human movement in Asia, Africa and Europe called the Silk Road, a trade
thought and action. route which connects the East, particularly China, and the West. This
route brings us to the history of how Philippines was discovered by the
Portuguese and Spain envoys in search of spices and eventually led to
HISTORICAL PERIODS OF GLOBALIZATION colonization.
• The Prehistoric Period (10000 BCE-3500 BCE) In this earliest phase of • At this present-day time, foreign expatriates come to the country to
globalization, contacts among hunters and gatherers – who were manage their company’s foreign subsidiaries. Likewise, the Philippines
spread around the world – were geographically limited. In this period send thousands of skilled workers to the Middle East as construction
due to absence of advanced forms of technology, globalization was workers, seafarers, nurses,etc.
severely limited. • Economic globalization refers to the expanding interdependence of
• The Pre-modern Period (3500 BCE- 1500 CE) In this period the world economies.
invention of writing and the wheel were great social and technological

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• The term global economy also refers to the interconnected - After the Second World War, American corporations began to
worldwide economic activities that take place between multiple emerge with the rise of new conglomerates. International
countries. Telephone and Telegraph bought Avis Rent-a-Car, Continental
• These economic activities can have either a positive or negative Banking, Sheraton Hotels, and Hartford Fire Insurance (American
impact on the countries involved. History, 2018). Later, Japan and Europe followed suit with
• The International Monetary Fund (IMF) also defined Economic Japanese companies like Toyota, Nissan, and Isuzu taking off
Globalization as a historical process, the result of human innovation after the war. These companies produced many trucks for the
and technological progress(IMF,2008) Japanese military as well as global markets. Renault
automobiles, a French multinational automobile manufacturer,
HOW DOES GLOBAL ECONOMY WORK? was also used to help in military post-war operations. The rise of
• A global economy is one in which goods and services are traded across American, Japanese, and European global corporations paved
national borders. Because the trade is among sovereign nations, the way for further integration of the global market.
those nations may enact trade restrictions that alter free market out
comes. • Colonization and imperialism rose as the new ways of putting order to
the economic interrelationships among countries.
THE NEW WORLD ECONOMY IS CHARACTERIZED BY: • Through colonialism, equity, corporate ownership, management
1. More options for production. No matter what your production subsidiaries, and central headquarters which supply goods and
processes, the chances are that the same capabilities exist services were establish through colonialism.
elsewhere.
2. The chance to create new markets Types of Related Markets where Market Integration Occurs
3. Small firms can think big
4. A more level playing field Stock Market Integration
5. Networks are important - This is a condition in which stock markets in different countries
6. Culture is no constraint trend together and depict same expected risk adjusted returns.
Economic globalization is one of the three main dimensions of globalization Two markets are perfectly integrated if investors can pass from
commonly found in countries and academic literature. The other two one market to another without paying any extra costs and if
dimensions are political globalization and cultural globalization. Economic there are possibilities of arbitration which ensures the
globalization refers to the widespread international movement of goods, equivalence of stock prices on both markets.
capital, services, technology, and information. It is the increasing economic
integration and interdependence of national, regional, and local economies
across the world through an intensification of cross-border movement of
goods, services, technologies, and capital.
Financial Market Integration
• Specific actors that facilitate economic globalization are highlighted as - It is an open market economy between countries facilitated by a
follows: common currency and the elimination of technical, regulatory
1. The International Economic and Financial Organization and tax differences to encourage free flow of capital and
2. The International Governmental Organization (IGOs) investment across borders (57), It occurs when lending rates in
3. The Media several different markets begin to move in tandem with one
4. The Multilateral Development Banks another. Emergence of similar patterns within the capital, stock,
5. The Nation-States and financial markets with those trends coming together to
6. The Non-Governmental Organizations (NGOs) exert a profound influence on the economy of that nation is
7. The Trans-National Corporations (TNCs) involved in the integration within a nation.
8. The United Nations (UN) System
Global Corporation
These are the agents that bring about the interdependencies of global - A global corporation is a business that operates in two or more
economies. Some experts believe that these actors are the global countries. It also goes by the name "multinational company".
corporations and that it is still the nation-states but of different levels. Several advantages are offered by global expansion of business
Brodie (2006) calls the government as ‘the midwives of globalization’ which over running a strictly domestic company. Success in different
means that the role of nation-states is being redefined by globalization and types of economies is achieved by means of multiple countries
are relevant despite operation while it causes also logistic and cultural challenges.
Expanding revenue opportunities and diversifying business risk
are the purposes of becoming global corporation. Access to
CHAPTER 2 – LESSON 2 more customers and capital is obtained through a model that
MARKET INTEGRATION works domestically well and translates foreign markets well.
• Market integration occurs when prices among different locations or
related goods follow similar patterns over a long period of time. The Finance Function in a Global Corporation
• Groups of goods often move proportionally to each other and when - As corporations go global, capital markets open up within them, giving
this relation is very clear among different markets it is said that the companies a powerful mechanism for arbitrage across national financial
markets are integrated. markets (62), Chief financial officers (CFOs) must balance the opportunities
• Integrated marketing allows you to spread your marketing messages with the challenges of operating in multiple environments in managing their
across multiple channels and increases the chances of it being heard. internal markets in building an advantage. These three functions can be
Best of all customers engaged through multiple channels tend to created by CFOs through exploiting their internal capital markets.
spend more than other customers. Therefore, spreading your 1. Financing
marketing message can increase your return on investment. - A group's tax bill can be reduced by the CFO like borrowing in countries
with high tax rates and lending to operations in countries with lower rates.
- Global market integration did not happen overnight. It was the 2. Risk Management
result of the establishment of a global economy that involved - Global firms can offset natural currency exposures through worldwide
the homogenization of trade and commerce. Prior to the trends operations instead of managing currency exposures through financial
in globalization in the 20th century, international trade of goods markets.
and services were already practiced. 3. Capital budgeting
- Getting smarter on valuing investment opportunities CFOs can add value.

Foreign Direct Investment

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- Foreign Direct Investment (FDI) was of corporate origin. It is a • There are two things that will happen if a country is in Golden
major driver of extended global corporate development. It is an Straitjacket: the economy grows and politics shrinks. It is a straitjacket
investment made by a company or individual in one country in because it narrows the political and economic policy choices of those
business interests in another country, in the form of either in power to relatively tight parameters
establishing business operations or acquiring business assets in
the other country, such as ownership or controlling interest in a NEOLIBERALISM AND ECONOMIC SOVEREIGNTY
foreign company and the key feature of foreign direct • Neoliberalism
investment is that it is an investment made that establishes o the intensification of the influence and dominance of capital.
either effective control of, or at least substantial influence over, o It values market exchange capable of acting as a guide to all
the decision making of a foreign business (63). human action.
o It emphasizes the significance of contractual relations in the
BRICS ECONOMIES marketplace.
• Brazil, Russia, India, China and South Africa (BRICS) is an acronym for o the social good will be maximized by maximizing the reach and
the combined economies of Brazil, Russia, India, China and South frequency market transactions
Africa. BRIC, without South Africa, was originally coined in 2003 by • Economic Sovereignty
Goldman Sachs, which speculates that by 2050 these four economies o the power or national governments to make decisions
will be the most dominant. South Africa was added to the list on April independently of those made by other governments. There are
13, 2011 creating "BRICS" four diff. concepts of sovereignty. 1. International legal
GENERAL AGREEMENT ON TRADE IN SERVICES Sovereignty, 2. Westphalian Sovereignty, 3. Interdependence
• The General Agreement on Trade in Services (GATS) is the first Sovereignty and 4. Domestic Sovereignty.
multilateral agreement covering trade in services which was
negotiated during the last round of multilateral trade negotiations, WORLD’S LEADING FINANCIAL INSTITUTIONS
called the Uruguay Round, and came into force in 1995. • World Bank (WB)- The international financial institution that provides
GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT) loans to countries of the world for capital projects. It was established
• deals with trade in goods. The two primary objectives of GATTS are to by the United Nations Monetary and Financial Conference or the
ensure that all signatories are treated equitably when accessing Bretton Woods conference.
foreign markets; and second, to promote progressive liberalization of • International Monetary Fund (IMF)- It does so in three ways: keeping
trade track of the global economy and the economies of member countries;
lending to countries with balance of payments difficulties; and giving
practical help to member
CHAPTER 2 – LESSON 3 • World Trade Organization (WTO)-regulates international trades deals
THE GLOBAL INTERSTATE with the rule of trade between nations, ensure the trade will flows
• Defining Interstate smoothly, predictably and freely as possible. Act as forum in
o A system of unequally powerful and competing states in which negotiation trade agreements
no single state is capable of imposing control on all others. ECONOMIC AND POLITICAL INTEGRATION
These states are in interaction with one another in a set of • European Integration
shifting alliance and wars and changes in relative power of o is the process of industrial, political, legal, economic, social and
states upsets any temporary set of alliances, leading to cultural integration of states wholly or partially in Europe.
restructuring of balance of power” European integration has primarily come about through the
• Defining State European Union and its policies
o States are independent political communities each of which • European Union
possesses a government and assert sovereignty in relation to a o is an international organization comprising 28 European
particular portion of the earth’s surface and particular segment countries and governing common economic, social, and
of human population (Hedley Bull)” security policies
• Nation • Economic Integration
o The concept of nation emphasizes the organic ties that hold o can be described as a process and a means by which a group of
groups of people together and inspire a sense of loyalty and countries strives to increase their level of welfare.
belonging – i.e., ethnicity, language, religion, and others o It is an arrangement between different regions that often
(Schattle, 2014) includes the reduction or elimination of trade barriers, and the
coordination of monetary and fiscal policies.
STATE NATION SEVEN STAGES OF ECONOMIC INTEGRATION
• A legal and political • A socio-cultural entity 1. Preferential trading area (PTA
entity • Linked to a group 2. Free trade area
• Linked to a territory people 3. Customs union
• Exist with sovereignty • May exist even w/o 4. Common market
• Established sovereignty 5. Economic union
consciously • Can be created 6. Economic and monetary union
• United by law unconsciously 7. Complete economic integration
• United by bond and • Preferential Trade Areas
shared history o happens when there’s an agreement on reducing or eliminating
tariff (tax or duty to be paid on a particular class of imports or
• Nation-State
exports) barriers on selected goods imported from other
o This refers to modern countries and their political apparatuses
members of countries within the geographical region or areas.
that rules over a single nation.
o It is a political community that emanates from civic society to
legitimately execute peace.
• Free Trade Agreement
STATE AND ECONOMIC INTERDEPENDENCE o eliminate import tariffs as well as import quotas between
signatory countries. These agreements can be limited to a few
• The belief that globalization imposes a forced choice upon states
sectors or can encompass all aspects of international trade.
either to conform to free market principles or run the risk of being left
behind is termed into a phrase called “Golden Straitjacket” • Custom Union

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o eliminate import tariffs as well as import quotas between populations to mount effective challenges and resist the more
signatory countries. These agreements can be limited to a few powerful and advantaged elites".
sectors or can encompass all aspects of international trade. • Global Justice Movement
• Custom Union o describes the loose collection of individuals and groups often
o All barriers to the mobility of people, capital and other referred to as a “movement of movements”, who advocate fair
resources within the area in question, as well as eliminating trade rules and are negative to current institutions of global
non-tariff barriers to trade, such as the regulatory treatment of economics such as the World Trade Organization
product standards are removed by CM aside from containing • New transnational Activism
the provisions of a customs union. o is as multifaceted as the internationalism. Although
• Custom market globalization and global neo-liberalism are frames around
o All barriers to the mobility of people, capital and other which many activists mobilize, the protests and organizations
resources within the area in question, as well as eliminating are not the product of a global imaginary but of domestically
non-tariff barriers to trade, such as the regulatory treatment of rooted activists who are the connective tissue of the global and
product standards are removed by CM aside from containing the local, working as activators, brokers and advocates for
the provisions of a customs union. claims both domestic and international
• Economic Union SOCIAL MEDIA AND STATE
o The trading bloc that has both a common market between • Social media is a computer-based technology that facilitates the
members, and a common trade policy towards non-members, sharing of ideas and information and the building of virtual networks
although members are free to pursue independent macro- and communities.
economic policies
• Economic Monetary Union
o involves a single economic market, a common trade policy, a CHAPTER 2 – LESSON 4
single currency and a common monetary policy. CONTEMPORARY GLOBAL GOVERNANCE
• Complete Economic Integration • Global Governance or World Governance
o the final stage of economic integration in which member states o Is a product of neo-liberal paradigm shifts in international
completely forego independence of both monetary and fiscal political and economic relations. It is a movement towards the
policies. political integration of transnational actors aimed at
• Political Integration negotiating responses to problems that affect more than one
o refers to the integration of components within political state or region. It tends to involve institutionalization. These
systems; the integration of political systems with economic, institutions of global governance – the United Nations, the
social, and other human systems; and the political processes by International Criminal Court, the World Bank, etc. – tend to
which social, economic, and political systems become have limited or demarcated power to enforce compliance.
integrated o The capacity within the international system, at any given
moment to provide government-like services and public goods
THEORIES OF EUROPEAN INTEGRATION in the absence of a world government. It is a combination of
• Neofunctionalism informal and formal ideas, values, rules, norms, procedures,
o This theory focuses on the supranational institutions of the EU practices, policies, and organizations that help all actors-state,
of which the main driving forces of integration are interest international organization, non-government organizations
group activity at the European and national levels, political identify, understand, and address transboundary problems.
party activity, and the role of governments and supranational • International Organizations ( IOS )
institutions. o Commonly used to refer to international intergovernmental
o It is a theory of regional integration, building on the work of organizations on groups that are primarily made up of member-
Ernst B. Haas, an American political scientist and Leon Lindberg, states.
also an American political scientist. POWERS OF INTERNATIONAL ORGANIZATION
• Intergovernmentalism 1. Power of classification
o This theory provides a conceptual explanation of the European 2. Power to fix meanings
integration process. The main concept of the 3. Power to diffuse norms
Intergovernmentalism is emphasizing on the role of national 4. Because of these immense powers, IOs can be sources of great
states in the European integration; in another words it argues good and great harm.
that "European integration is driven by the interest and actions ROLES AND FUNCTIONS OF THE UNITED NATIONS
of nation states" . This theory was suggested by Stanley • As an intergovernmental organization, the United Nation is tasked to
Hoffmann promote international co-operation and to create and maintain
• Liberal Intergovernmentalism international order.
o Application of rational institutionalism to the field of European • The United Nations (UN) in the world of politics has the roles of
integration is the aim of this theory. preventing and managing conflicts, regulating armaments,
• Multi-level Governance championing human rights and international humanitarian law,
o Writers Liesbet Hooghe and Gary Marks defined MLG as liberating the colonized, providing economic and technical aid in
dispersion of authority across multiple levels of political newly liberated countries, organizing elections, empowering women,
governance. educating children, feeding the hungry, sheltering the disposed and
displaced, housing the refugees, tending the sick and coordinating
TRANSNATIONAL ACTIVISM IN STATES disaster relief and assistance.
• Transnational Activism FOUR MAIN PURPOSE OF UN CHAPTER
o defined as the mobilization of collective claims by actors 1. Maintaining worldwide peace and security
located in more than one country and/or addressing more than 2. Developing relations among nations
one national government and/or international governmental 3. Fostering cooperation between nations in order to solve economic,
organization or another international actor. social, cultural, or humanitarian international problems
4. Providing a forum for bringing countries together to meet the UN's
purposes and goals
• Social Movement • The UN aims to save succeeding generations from the scourge of war;
o is a type of group action. It refers to the organizational to reaffirm faith in fundamental human rights; to establish conditions
structures and strategies that may empower oppressed under which justice and respect for the obligations arising from
treaties and other sources of international law can be maintained; and

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to promote social progress and better standards of life in larger 2. The Global South captures a deterritorialized geography of capitalism's
freedom externalities and means to account for subjugated peoples within the
CHALLENGES OF GLOBAL GOVERNANCE IN THE 21ST CENTURY borders of wealthier countries, such that there are economic Souths in the
• It is a process which allows interconnectivity across different borders geographic North and Norths in the geographic South.
and sovereign territories. Global governance is governing, without 3. It refers to the resistant imaginary of a transnational political subject that
sovereign authority, relationships that transcend national frontiers. results from a shared experience of subjugation under contemporary global
Global governance has evolved as one of the most influencing tools capitalism.
for globalization which has led to the foundation of sustainable
development projects around the globe. Major Differences
• Issues that involve interwoven domestic and foreign challenges
include threats at the beginning of the century which include ethnic NORTH
conflicts, infectious diseases, and terrorism as well as a new • Less Population High Wealth
generation of global challenges including climate change, energy • High Standard of Living
security, food and water scarcity, international migration flows and • High Industrial Development Industry
new technologies.
• Within states the first trajectory or path is the depoliticization which SOUTH
can be observed in the form of delegating decisions to independent • High Population
regulators and experts, central banks, or judiciaries. • Low Wealth
• A second trajectory is the rescaling of economic and social relations • Low Standard of
well beyond the territorial boundaries of nation states, facilitated by • Living
transnational legal arrangements that have their roots in national law • Low Industrial
• Development Agricultural

THE ROLE OF THE NATION-STATE IN GLOBALIZATION First World

Basic Elements of a State • developed, capitalist and industrial countries.
1. Territory • North America
2. People • - Western Europe
3. Sovereign Power (the authority of a state to govern itself) • - Japan
• Nation- state role in globalization is complex. Since nation-states are • - Australia
divided by physical and economic boundaries, reduced barriers in
international commerce and communication are considered their Second World
potential threat. Sovereignty of individual nations is not abolished by
• former Communist-Socialist
expanded trade among countries, instead globalization is a force that
• Russia
changed the way nation-states deal with one another, particularly in
• Eastern Europe
the area of international commerce.
• Turk States
• In setting international commerce policies, isolated states are forced
• China
to engage to one another, while nation-state’s domestic role
unchanged. Roles of some states were diminished while others have
Third World
exalted role is due to interactions of various economic imbalances.
• Developing Countries
GLOBALIZATIONS’S IMPACT ON THE STATES • - Africa
1. Poverty • - Asia
2. Environmental pollution • Latin America
3. Economic crisis
4. Organized crime and terrorism - Causes of inequalities the including the availability of natural
• Decision making processes in globalization is complex as it takes place resources; different levels of health and education; the nature of
in various levels such as sub-national, national, and global which lead a country's economy and its industrial sectors; international
to the growth of a multi-layered system of governance. trading policies and access to markets;
Asian Regionalism
REGIONALISM
CHAPTER 3 - Refers to the decentralization of political powers or
The World Regions competencies from a higher towards a lower political level.
Global Divides:
The North and the South (Focus : Latin America) Views of Globalization in the Asia Pacific and South Asia
- Globalization is an external phenomenon being pushed into the
• GLOBAL SOUTH region by world powers particularly the United States and
- Refers to the regions of Latin America, Asia, Africa, and Oceania Europe. From this perspective, globalization can be understood
mostly low-income and often politically or culturally as a process that transforms the Asia Pacific and South Asia. It is
marginalized. It may also be called the "developing World" such a force for good bringing economic development, political
as Africa, Latin America, and the developing countries in Asia, progress, and social and cultural diversity to the region
"developing countries," "less developed countries," and "less THE ASIA PACIFIC AND SOUTH ASIA
developed regions" including poorer "southern" regions of - Refer together to the regions of East (or Northeast) Asia, South
wealthy "northern" countries Asia, the Pacific Islands, and South Asia. It includes some of the
- In general, Global South refers to these countries' world's most economically developed states such as Japan,
"interconnected histories of colonialism, neo-imperialism, and South Korea, Singapore, and Taiwan, and highly impoverished
differential economic and social change through which large countries such as Cambodia, Laos, and Nepal. It also includes the
inequalities in living standards, life expectancy, and access to largest and most populous states on the globe including China
resources are maintained. and India and some of the world's smallest such as the Maldives
THREE PRIMARY CONCEPTS OF GLOBAL SOUTH and Bhutan
1. It refers to economically disadvantaged nation-states and as a post-cold
War alternative to the "Third World". Globalization in the Asia Pacific and South Asia is an external phenomenon
being pushed into the region by world powers like US and Europe.
Globalization in this context is a process that transforms the Asia Pacific and

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South Asia. It can be viewed as a force for good, bringing economic
development, political progress, and social and cultural diversity.

ASIA PACIFIC AND SOUTH ASIA'S IMPACT ON GLOBALIZATION

Asia was the central global force in the early modern world economy. It was
the site of the most important trade routes and in some places more
advanced in technology than West such as science and medicine.

JAPAN
Japan embarked on procuring raw materials like coal and iron at
unprecedented economies of scale allowing them to gain a competitive
edge in the global manufacturing market as well as globalized shipping and
procurement patterns which other countries modeled.

INDIA
India opened -up and emphasized an export- oriented strategy. Textiles and
other low wage sectors have been a key part of the economy with highly
successful software development exports.

CHINA
China pursues similar pattern of development at present and is now the
world's largest importers of basic raw materials such as iron and surpassed
Japan, the US and Europe in steel production.

India and China have also become a major source of international migrant
labor, which is also one of the fundamental characteristics of the era of
globalization. This includes the migration of highly skilled labor into the
high-tech industry based in Silicon Valley. India, China and the Philippines
were three of the top four recipient states of migrant remittances.

In culture and globalization in the region, Asia has been the source of a wide
variety of cultural phenomena that have spread outward to the West and
the rest of the world.