Philip john L.

Gargar BSTM 4

What are the similarities and differences of the global south from the developing nations?
Countries of the global south have been described as newly industrialized or in the process of
industrializing are largely considered by freedom indices to have lower quality democracies, and
frequently have a history of colonialism by Northern or often European states.

What are the commonalities and differences between regionalization and globalization?
The similarities are regionalization is a process that is generally similar to globalization but can
compete with is to some degree. The main similarity is there is a movement towards economic
integration of more than one country. The differences are regionalization is the process of
dividing an area into smaller segments called regions while globalization is the process of
international integration arising from the changing of world views, products, ideas and other
aspects such as technology etc. Globalization promotes the integration of economies across
state borders all around the world but regionalization is precisely the opposite because it is
dividing an area into smaller segments.

How did the experiences of Latin American countries contribute to the new conception of
global relations?
On December 11-14, 2016, Ernesto Talvi participated in the Latin America Shadow Financial
Regulatory Committee held in Buenos Aires, Argentina. The committee is composed of a group
of prestigious independent Latin American economists, former policymakers, and academics
with strong expertise in the field of macro economics, banking and finance and whose goal is to
identify and analyze challenges and risks for the region. The following document “Policy
Statement Number 36” was released following the meetings. It discusses the headwinds and
risks faced by Latin America in a challenging context of increasing backlash against globalization
in the developed world and recommends a series of policy actions to mitigate the adverse
effects of these external developments.

How different Asian states confront the challenges of globalization and regionalization?
Globalization is an unstoppable phenomenon to which different states need to adjust to, not
only those from Asia. However Asian countries should as much as possible, create a kind of
economic block to look out for each other, especially the ASEAN members which are composed
of nations that get along quite well compared to the northern Asians. I’m sure that most
countries have gradually prepared their institutions for the future such as well defined tariffs on
incoming goods, adjusting their infrastructures in order to accommodate the increased level of
shipping activities. Communication lines would have been updated by now to meet the
requirements of global trade. Most of the changes caused by globalization will happen
organically and you just can’t prepare for it.
What are the factors that lead the Asian region to greater integration?
One of the few factors is trade. The world economy is intertwined with each other whether we
like it or not. We all want or need something from another world and global trade facilitates.
Similar culture is also one of the factors. Cultures of Asia are diverse but they do share many
things. This makes it an easier fit during times of negotiations. Common goals are also recognize
as a factor because Asian region have mutual benefit of a slow integration. The territories
involved are not far from each other and the industry of its population can work as a powerful
negotiating block against those from other world.