Magara, Kathrin Joy A.

10/29/22
BSA 101

Seatwork:

1. Compare and contrast the Global North and Global South. Explain your insights based on your
understanding.

- The Global North and Global South countries are considered a socioeconomic and political divide. The
global north refers to the countries which are rich and developed, while the global south refers to the
countries which are poor and developing. South countries have suffered many economic crises while north
countries don’t have many serious economic problems. Global north countries are better developed and
more advanced they are more advances technologically speaking. South countries have not advanced and/or
progressed technologically speaking and global north countries have advanced rapidly in this aspect.
Because south countries have not advanced technologically, they have to depend in corporations from the
north. Maybe south countries can’t advance because of lack of resources so they have to turn up to
corporations from the north. This also means south countries can’t advance because the north corporations
focuses on their problems and don’t care about the south countries problems. However south countries don’t
have an option because they lack economical resources since their main focus is agriculture.

2. Define and explain the following:

-1st World Country
-2nd World Country
-3rd World Country

The First World Country are countries that are highly industrialized and with advanced economies. First-
world country term was first used during the Cold War to describe nations who sided with the allied
powers of the United States and NATO. First-world countries are often characterized by prosperity,
democracy, and stability – both political and economic.

The Second World Country is the term used to describe former communist-socialist, less industrialized
states known as the Eastern Bloc. It has subsequently been revised to refer to nations that fall between
first and third world countries in terms of their development status and economic indicators.

The Third World Country refers to countries with high mortality rates, especially infant mortality rates.
These countries usually lack economic stability because of the lack of a functioning class system.
Usually, the country will have an upper class and a lower class. Without a middle class to fill the gap,
there is almost no way for a person to escape poverty because there is no next step for them on the
economic ladder.
3. Explain and differentiate the Globalization from Regionalization

Globalization means the speed up of movements and exchanges of goods, and services, capital,
technologies or cultural practices all over the world. Regionalization is the process of dividing an area
into smaller segments called regions.

The difference between Globalization and Regionalization is that Globalization refers to the process of
expanding your business operations onto a global scale. This can include selling products or services in
other countries or setting up offices or factories in other parts of the world. Regionalization involves, first
of all consideration of various events and the needs of specific areas of the country. Regionalization is the
opposite of globalization – it refers to the process of dividing your business into smaller units that operate
within specific geographic regions.