________________________________________________________________________

Student’s Name: ALYSA HILARY SOLANO

Course/Year & Block: BSBA FINANCIAL MANAGEMENT 1 BLOCK-I

Course Instructor: MS. APRIL JOY RILLAS Contact #: 0907-7949-909

Course Code: GE 3 -MIDTERM
Course Title: The Contemporary World
Term: 1st Semester S.Y. 2021-2022
_________________________________________________________________________
Lesson 6: A World of Regions

LEARNING OUTCOMES

1.Classify the different flags of the countries listed from the regions they belong
2. Differentiate the regions of the world from the continents of the world

EXPECTATIONS
Numerous schemes exist for dividing Earth's vast land area into helpful categories that combine geography with
political considerations. While seven distinct continents exist, one of them, Antarctica, is uninhabited save for research stations
and is not included in most formal regional schemes of the world.
The Unites States Department of Homeland Security (DHS) has divided the planet into eight distinct inhabited
regions, listed and detailed below. Note that this is distinct from the G8, or group of eight industrialized nations recognized by
the United Nations (UN). These eight geographic regions of the world provide a helpful analytical and practical framework for
national defense, commerce and other geopolitical considerations.

KEYWORDS:

REGIONALIZATION
 societal integration and often undirected process of social and economic integration.

REGIONS
 are a group of countries located in the same geographically specified area.

DISCUSSION

REGIONS OF THE WORLD

The eight official DHS-recognized global regions on the world map are Africa, Asia, Europe and Oceania in the
Eastern hemisphere and the Caribbean and the three American zones (North, Central and South) in the Western hemisphere. (A
small portion of Europe is actually in the Western hemisphere.) Most of the world's land lies north of the equator, i.e., in the
Northern hemisphere. Of the eight specified regions, only Oceania lies entirely in the Southern hemisphere.

1.Africa

 the second largest continent on Earth, Africa is about three times as large as the entire United States.
It is connected to Asia via the Isthmus of Suez in Egypt, which lies adjacent to Israel. It features the
longest river in the world, the Nile, as well as the venerated and massive Sahara Desert.

2. Asia

 is the planet's largest and most populous continent. As of 2020, Asia held the only two countries
with a population of over 1 billion, China and India. Asia features the world's tallest mountain range
(the Himalayas) and its tallest individual peak (Mount Everest). The Asia region holds more than 40
countries in all.

3. The Caribbean

 Despite its small size, the Caribbean was perhaps designated as its own region by DHS because of its
proximity to the United States and the fact that it exists as a set of distinct island nations. Cuba, the

1
 Dominican Republic and Aruba are some of the tropical countries stretching from southeast of the
U.S. proper toward northern South America.

4. Central America

 As the name implies, Central America lies between North and South America, just north of the
equator. It includes only seven countries (Belize, Costa Rica, El Salvador, Guatemala, Honduras,
Nicaragua and Panama) but has been of significant geopolitical importance to the U.S. government
thanks to immigration, narcotics and human-trafficking concerns.

5. Europe

 It is about the size of the United States, yet most of its 44 countries are smaller than many of the
larger individual U.S. states. The headquarters of the United Nations sit in Geneva,
Switzerland.Most European countries have access to the Atlantic Ocean or a major waterway, which
was vital in the exploration of the world in centuries past.

6. North America

 It includes the Unites States, Canada and Mexico as well as the massive island of Greenland. North
America the continent also includes the DHS regions' Central America and the Caribbean. It includes
grand mountain ranges, lush expansive soil and a range of climate-related and ecological variations.

7. Oceania

 It is a unique region consisting of Australia, New Zealand and over a dozen island nations, most of
them very tiny. Australia is famously known as "The Land Down Under" because it lies entirely in
the Southern Hemisphere, but even the southernmost portions are fairly close to the equator, and the
region is very temperate weather-wise.

8. South America

 It has a distinctive pointed-triangle shape, tapering from north to south and featuring Brazil as its
largest and most populous nation. The cities of Sao Paolo, Santiago, Caracas and Buenos Aires are
world-revered cultural centers, and the 2016 Summer Olympic Games were held in Rio de Janeiro,
Brazil.

REFERENCES

https://sciencing.com/10-geographic-regions-world-8774247.html

Lesson 7: Global Divides: The North and the South

LEARNING OUTCOMES

1. define the term “Global South”

2. differentiate the Global South from the Third World
3. analyze how new conception of global relations emerged from Latin American countries

KEYWORDS:

GLOBAL NORTH
 consists of the richest and most industrialized countries, which are mainly in the northern part of the world.

GLOBAL SOUTH
 consists of the poorest and least industrialized countries, which are mainly in the southern part of the world.

2
EXPECTATIONS
This lesson will broaden your insights about the relationships of various nations showing economic progress over time.
The survival of some nations towards their current status in the world of global competitions are also highlighted. Today, as you
begin studying this lesson, I’m sure you will make yourself acquainted of how certain regions affect global economic stability.

DISCUSSION
The North and the South
The global digital divide describes global disparities, primarily between developed and developing countries, in regards
to access to computing and information resources such as the internet and the opportunities derived from such access.
The terms Global North and Global South, and First world and Third World are used interchangeably in common
conversation. Though these two sets are related, they are actually different.
The labels First World and Third World came into popular use during the Cold War between the capitalist camp led by
the US, UK, and their allies (mostly Western European countries); and the socialist camp led by the Soviet Union (otherwise
known as the Union Soviet Socialist Republic or USSR) and its allies (mostly Eastern European countries). The capitalist camp
was dubbed as the First World, while the socialist side was labeled as the Second World. The other countries of the world
comprising much of Asia, Africa, and Latin America were called as the Third World.
These countries were mostly former colonies of western powers but were nevertheless reluctant to be overtly included in
either camp. Currently, many countries labeled as part of the First World and Second Worlds during the Cold War are now part of
the Global North, while most of the Third World countries still belong to the Global South. The nations around the world depend
on each other’s support. This is also the same among nations in same regions. The more that they are connected for regional
development. Regionalization Process of closer economic integration of countries within a region (oftentimes, culturally and
geographically linked countries).
The gap between the ‘North’ and ‘South’
 Despite very significant development gains globally which have raised many millions of people out of absolute poverty,
there is substantial evidence that inequality between the world’s richest and poorest countries is widening.
 In 1820 western Europe's per capita income was three times bigger than Africa’s but by 2000 it was thirteen times as
big. In addition, in 2013, Oxfam reported that the richest 85 people in the world owned the same amount of wealth as the
poorest half of the world’s population.
 Today, the world is much more complex than the Brandt Line depicts as many poorer countries have experienced
significant economic and social development.
 However, inequality within countries has also been growing and some commentators now talk of a ‘Global North’ and a
‘Global South’ referring respectively to richer or poorer communities which are found both within and between
countries.
 For example, whilst India is still home to the largest concentration of poor people in a single nation it also has a very
sizable middle class and a very rich elite.
 There are many causes for these inequalities including the availability of natural resources; different levels of health and
education; the nature of a country’s economy and its industrial sectors; international trading policies and access to
markets; how countries are governed and international relationships between countries; conflict within and between
countries; and a country’s vulnerability to natural hazards and climate change.

CHINA
 offers its cheap and huge workforce to attract foreign businesses.

SINGAPORE AND SWITZERLAND

 compensate for their lack of resources by turning themselves into financial and banking hubs.

COUNTRIES FORM REGIONAL ASSOCIATIONS FOR SEVERAL REASONS:

1. FOR MILITARY DEFENSE

NORTH ATLANTIC TREATY ORGANIZATION (NATO) - most widely known defense grouping formed during the
cold war when several Western European countries plus the United States agreed to protect Europe against the threat of
the Soviet Union.

WARSAW PACT -Soviet Union’s regional Alliance, consisting of Eastern European countries.

2. TO POOL THEIR RESOURCES

ORGANIZATION OF THE PETROLEUM EXPORTING COUNTRIES (OPEC)

-was established in 1960 by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela to regulate the production and sale of oil.
Other members of OPEC include Qatar, UAE, Algeria and Congo.

3
 3. TO PROTECT THEIR INDEPENDENCE FROM THE PRESSURES OF SUPERPOWER POLITICS.

NON-ALIGNED MOVEMENT (NAM) - created by the presidents of Egypt, Ghana, India, Indonesia and Yugoslavia
in 1961.Also,to pursue world peace and equality.Had 120 member countries.

4.ECONOMIC CRISIS COMPELS COUNTRIES TO COME TOGETHER

The Thai economy collapsed in 1996,a rapid withdrawal of foreign investments bankrupted the economy. This crisis
began to spread to other Asian Countries.

LEARNING SUMMARY
Integrate the concept of dependency theory in the status of the Philippines under globalization. Explain through a
comprehensive discussion. (20 pts.)

REFLECTIONS
Answer the following questions, as a proof of your understanding of the lessons. (10 pts.)
1. Why are the terms First World and Third World, and the Global North and Global South used interchangeably? Is it justifiable
to use them as such?
2. How can Global South catch up with the Global North?

REFERENCES
Claudio, L. & Abinales, P. (2018). The Contemporary World. C&E Publishing, Inc. San Juan, David Michael M. (2018).
Journeys through Our Contemporary World. Vibal Group, Inc.
https://aric.adb.org/emergingasianregionalism/pdfs/Final_ear_chapters/chapter%201.pdf
https://www.collinsdictionary.com/dictionary/english/
https://www.rgs.org/schools

Lesson 8: Asian Regionalism

LEARNING OUTCOMES
1. Write association of words between regionalization and globalization
2. Identify the factors leading to a greater integration of the Asian region
KEYWORDS:

REGIONALISM
 emphasizes on developing the administrative power and swaying the available or some inhabitants of a region.

FACETS OF REGIONALISM
 identities, ethics, religion, ecological sustainability and health

EXPECTATIONS
This lesson is about the product of economic interaction, not political planning. As a result of successful, outward
oriented growth strategies, Asian economies have grown not only richer, but also closer together.
In recent years, new technological trends have further strengthened ties among them, as have the rise of the PRC and
India and the region’s growing weight in the global economy. But adversity also played a role. The 1997/98 financial crisis dealt a
severe setback to much of the region, highlighting Asia’s shared interests and common vulnerabilities and providing an impetus
for regional cooperation. The challenge now facing Asia’s policy makers is simply put yet incredibly complex: Where markets
have led, how should governments follow?

EXERCISE # 3: ASSOCIATION OF WORDS

Instruction: Write words, ideas, or phrases associated the words below. It is good for 10 pts.

REGIONALIZATION GLOBALIZATION

4
DISCUSSION

Asian Regionalism

REGIONALIZATION GOALS OF ASEAN

Regional cooperation, effectively structured and implemented, is a powerful new tool in Asia’s policy arsenal.
It can help Asia address regional challenges as well as provide stronger foundations for its global role.
ASIA’s BENEFITS FROM REGIONALISM
Over the past years, the Philippines as well as other countries in Latin America are still struggling in economic
prosperity. The common factors were focused on the colonization that happened in the past. Since then, we try to improve and
meet the demands of the global economy.
ASEAN (ASSOCIATION OF SOUTH EAST ASIAN NATION) along with China, Japan and South Korea agreed to
establish an emergency fund to anticipate a crisis that the Asian economies stabilized.

NON-STATE REGIONALISM- tiny associations that focuses on a single issue. People who share the same values, norms,
institutions and system that exist outside of the traditional North American Free Trade Agreement (NAFTA).

RAINFOREST FOUNDATION- protects indigenous people and the rainforest.

CONTEMPORARY CHALLENGES TO REGIONALISM

1.Resurgence of militant nationalism and populism.
Brexit
withdrawal of UK to European Union
2.The extent to which member countries should sacrifice their sovereignty for the sake of regional stability.
3.Differing visions of what regionalism should be for.

DIFFERENCE BETWEEN NATIONALISM, FEDERALISM, AND AUTONOMISM

NATIONALISM

identification with one's own nation and support for its interests, especially to the exclusion or detriment of the interests
of other nations.
advocacy of or support for the political independence of a particular nation or people.

Example:

Regionalism in Spain is said to have strong association with nationalism. On the other hand, in Italy regionalism means
federalism but is the antonym of “nationalism”

FEDERALISM

is well-defined as the distribution of power in a government among a central authority and the component units; this is
criminal behavior and is thus the complete opposite of nationalism. Movements or parties that are championing for
liberation repeatedly demand for autonomy.

AUTONOMISM

can be defined as a movement or belief towards self-governance. There are several regional parties across the globe, but
the most recognized ones include the Coalition Avenir Quebec and Parti Québécois located in Quebec, Canada and the
National Liberation Movement of Angola.

They, therefore, create coalitions or seek to be part of the government. In most nations, the advance of regionalist
legislation might be a preface to additional demands for bigger autonomy and even full split-up, especially when tribal, traditional
and financial differences are present.

MERITS OF REGIONALISM

A well-formulated trade bloc can raise productivity and economic welfare in its associate countries by enhancing
consumer choice and growing the competition that producers encounter.
Dropping tariff barriers expands markets and gives more efficient producers access into states where their prices had
been exaggerated by duties and other trade barriers.
However, it is important to note that trade blocs easily add up instead of removing distortions and trade efficiency.

5
 It is essential to note that economic profits do not only come from trade as some benefits may also come as a result of
cooperation in investment and financial activities.
Economic impacts of regionalism can be categorized into different classes, those effects arising from trade, effects
arising due to investment and monetary cooperation.
Trade-related consequences have its positive impact in that regional integration entails the promotion of free trade
among the associate countries of a local organization.
The main reason for the benefits from trade is that the universal, unrestricted trade permits buyers and organizations to
buy from the cheapest source of supply; this ensures that production is located according to comparative advantage.

FACTORS OF ASIAN REGIONALISM

There are a few factors contributing to the growth of the Asian intra-regional trade. They include the rise in regional
income, the removal of trade barriers, and advances in production and transportation technologies.

MAJOR CHALLENGE IN ASIAN REGIONALISM

By far the biggest challenge was the global economic crisis, which had a mixed impact on Asian regionalism. On one hand, it
spurred calls for regional action, much in the way of the financial crisis that hit Asia hard in 1997-98.
PURPOSE
While Asian regionalism is primarily motivated by the desire to advance welfare in the region, it would not do so by detracting
from development elsewhere. On the contrary, Asian regionalism can help to sustain global economic progress at a time when
other major regions are reaching economic maturity.

ASIAN REGIONALISM STARTS

Fifty years ago, the inauguration of ASEAN ushered in the beginning of regionalism in Southeast Asia.
The 1967 ASEAN declaration was just one initiative on a long list of attempts to achieve regional cooperation and it called for a
collaborative approach to economic growth, social progress and cultural development.
It is natural for a community to see within as distinct entity having an identity different from others based on belonging
to a particular region, culture etc. When such, conscious or unconscious, distinct identity becomes an ideological force, uniting
these people around a common cause, building sub-national loyalties and leading to organization of demonstrations, movements
or any other kind of effort for achieving their goal is called as ‘regionalism’.
This assertion of regional identities can be to further economic, ethnic, cultural, linguistic interests. Correspondingly
political scholars have treated various forms of regionalism which include economic regionalism, linguistic regionalism, political
regionalism and even sub-regional movements in the general frame of regionalism.

LEARNING SUMMARY
Share your strong notion about this statement. “Our defeat was always implicit in the victory of others; our wealth has
always generated our poverty by nourishing the prosperity of others – the empires and their native overseers. 15 pts.

REFLECTIONS
Answer the questions, as a proof of your understanding of the lessons.
(15 pts.)

1. Do globalization and regionalization converge? How and when do they converge?

REFERENCES
https://aric.adb.org/emergingasianregionalism/pdfs/Finalchapters/chapter%202.pdf
https://csiswebsiteprod.s3.amazonaws.com/s3fspublic/legacyfiles/files/publication/issuesinsightsv10n12.pdf
https://www.internationalaffairs.org.au/australianoutlook/10523/
https://www.worldatlas.com/what-is-regionalism.html