3. Illustrate creatively your definition of the modern world system.

(If it is an essay, limit

to 2 paragraphs only)Answer:
The modern world-system, which is the geohistorical system in which we live, is a capitalist
world economy.
Because the current world system is based on a multi-state political structure or the interstate
system, its division of labor
is international. While the basic linkage is economic, the system is reinforced by political and
cultural factors. The
division of labor in the current world system is divided into three zones, the tripartite world-
system based on the
prevalence of profitable industries or activities: core, semi-periphery, and periphery. Core
countries, semi-peripheral
countries, and periphery countries are the three interconnected zones in which resources are
redistributed from the
underdeveloped, mainly raw materials-exporting, destitute part of the world or the periphery
to the developed,
industrialized core. Core areas are focused on core products, which are relatively capital
demanding and employ trained
high-wage labor. Peripheral areas are primarily made up of labor-intensive, low-wage, and
unskilled workers. Core
production is more profitable because it is controlled by quasi-monopolies, whereas periphery
manufacturing is truly
competitive and thus less profitable. An approximate balance of core and peripheral
production characterizes the
semiperiphery. The semiperiphery mediates surplus extraction from the peripheral to the core
and acts as a buffer zone
between the two hierarchical components of the world system, offering an ideological fig leaf
by allowing non-core
development.
References:
Dumanlag,
S.
K.
(2020,
November
4).
The
Modern
World
System.
YouTube.
https://www.youtube.com/watch?v=LFuTsIXgO90
Khutkyy, D., & Chase-Dunn, C. (n.d.). the world-system(s). IROWS.
https://irows.ucr.edu/papers/irows112/irows112.htm
Taylor, P. J. (2005). World-Systems Analysis and Globalization: A Jacobsean Exploration of
Pasts, Presents and Futures.
GAWC. https://www.lboro.ac.uk/gawc/rb/rb165.html
Wikipedia contributors. (2021, December 11). World-system. Wikipedia.
https://en.wikipedia.org/wiki/World-system
4. Articulate your stance on global economic integration. (It can be in favor or against)
Answer:
Economic integration is a pact between countries to lower or abolish trade barriers and agree
on fiscal policies. As
a consequence, for a variety of reasons, I strongly support global economic integration.
Globalization's primary principle
is global economic integration. Our country, the Philippines, is still classified as a developing
nation and small countrieslike ours benefit from extensive integration into the global
economy. Economic integration gives them access to a broader
consumer base, a wider pool of competent labor, more funding options, and new technologies.
A broader market, with an
equitable playing field in which all businesses can compete, can both shake up stagnant
industries dominated by
tightly-knit local political and corporate elites and foster innovation. People, businesses, and
economies are more
intertwined than they have ever been. This contributes to the facilitation of connections,
which leads to expertise,
innovation, and economic advancement. Economies benefit from other people's knowledge
and experience, and learn
how to replicate or adapt ideas for their own goals as an outcome of these interconnections
Moreover, economic
integration may stimulate the growth, productivity, and departure of current businesses, as
well as the emergence of new
businesses that succeed or fail quickly and cheaply. Also, stronger economic integration can
strengthen political
cooperation among countries, providing an incentive to resolve issues amicably and resulting
in greater security and
stabilization. To prove that economic integration benefits the global economy, the European
Union is a real-world
example that represents complete economic integration.
References:
Claudio, L.E. (2018). “The Contemporary World C & E Publishing, Inc.
https://economicgraph.linkedin.com/the-future-of-work/global-economic-
integration#:~:text=LinkedIn%20Economic%20
Graph-,Global%20economic%20integration,%2C%20innovation%2C%20and%20economic
%20progress.
Kenton,
W.
(2021,
April
1).
What
Is
Economic
Integration?
Investopedia.
https://www.investopedia.com/terms/e/economic-integration.asp#:
%7E:text=Economic%20integration%20can
%20reduce%20the,%2C%20and%20cross%2Dborder%20investment.
Ungerer, C. M. H. (2018, November 19). How economic integration can increase
living standards in the
Western
Balkans.
Brookings.
https://www.brookings.edu/blog/future-development/2018/11/19/how-economic-
integration-can-increase-living
-standards-in-the-western-balkans/