A WORLD OF

REGIONS

Hezrone O. Escobar Arwind James A. Binangbang Eugene Parker O. Salas Haithem M. Ghaleb Filipo T. Ramos Adrian Louise B. Manuel
Globalization changes the way nations, businesses and people
interact. Specifically, it changes the nature of economic activity
among nations, expanding trade, opening global supply chains and
providing access to natural resources and labor markets.
PANAMA
 (/ˈpænəmɑː/) (República de Panamá)
PANAMA

The Republic of Panama, is a transcontinental country spanning the central

part of North America and the northern part of South America. It is bordered
by Costa Rica to the west, Colombia to the southeast, the Caribbean Sea to the
north, and the Pacific Ocean to the south. Its capital and largest city is Panama
City, whose metropolitan area is home to nearly half the country's 4 million
people.
ECONOMY
Panama has always been dependent on world
commerce for its prosperity, and it is affected by the
cyclical nature of international trade. The economy
stagnated in the 18th century as colonial exchange
via the isthmus declined. In the mid-19th century,
Panama's economy boomed as a result of increased
cargo and passengers associated with the California
Gold Rush. A railroad across the isthmus, completed
in 1855, extended economic growth for about fifteen
years until completion of the first transcontinental
railroad in the United States led to a decline in trans-
isthmian traffic.
CANAL
The Panama Canal in Panama that connects the Atlantic Ocean with
the Pacific Ocean and divides North and South America. The canal cuts
across the Isthmus of Panama and is a conduit for maritime trade. One of the
largest and most difficult engineering projects ever undertaken, the Panama
Canal shortcut greatly reduces the time for ships to travel between the
Atlantic and Pacific oceans, enabling them to avoid the lengthy,
hazardous Cape Horn route around the southernmost tip of South America
via the Drake Passage or Strait of Magellan and the even less popular route
through the Arctic Archipelago and the Bering Strait. Colombia, France, and
later the United States controlled the territory surrounding the canal during
construction.
PANAMA CANAL
ECONOMIC SECTOR

Panama's economy, because of its key geographic location, is mainly based on a well-developed
service sector, especially commerce, tourism, and trading. The handover of the Canal and military
installations by the United States has given rise to large construction projects. A project to build a
third set of locks for the Panama Canal was overwhelmingly approved in a referendum (with low
voter turnout, however) on October 22, 2006. The official estimated cost of the project is US$5.25
billion, but the canal is of major economic importance because it provides millions of dollars of
toll revenue to the national economy and provides massive employment. Transfer of control of the
Canal to the Panamanian government completed in 1999, after 85 years of US control. Copper and
gold deposits are being developed by foreign investors, to the dismay of some environmental groups,
as all of the projects are located within protected areas.
EC
ON
OM
IC
SE
CT
OR
AGRICULUTURE

Agriculture in Panama is an important sector of the Panamanian economy.

Major agricultural products include bananas, cocoa
beans, coffee, coconuts, timber, beef, chicken, shrimp, corn, potatoes, rice, so
ybeans, and sugar cane. In 2009 agriculture and fisheries made up 7.4% of
Panama's GDP. Panama is a net food importer and the U.S. is its main
supplier. Agriculture employs many Panamanians (in relation to agriculture's
percentage of Panamanian GDP) because many farmers are engaged
in subsistence farming.
CULTURE

The culture of Panama derives from European music, art and traditions brought by the

Spanish to Panama. Hegemonic forces have created hybrid forms
blending African and Native American culture with European culture. For example,
the tamborito is a Spanish dance with African rhythms, themes and dance moves. Dance
is typical of the diverse cultures in Panama. The local folklore can be experienced at a
multitude of festivals, through dances and traditions handed down from generation to
generation.
PANAMA RELIGION
Sales
0% 0% 0%
1% 8%
1%
Catholic
1% Protestants
Adventist
Jehovah's Witnesses
Mormons
25% Buddhist
Judaism
Other religions
No religion
63%
MONGOLIA
(/mɒŋˈɡoʊliə/)
MONGOLIA

Mongolia is a landlocked country in East Asia, bordered by Russia to

the north and China to the south. It covers an area of 1,564,116
square kilometers (603,909 square miles), with a population of just
3.3 million, making it the world's most sparsely populated sovereign
nation. Mongolia is the world's largest landlocked country that does
not border a closed sea, and much of its area is covered by
grassy steppe, with mountains to the north and west and the Gobi
Desert to the south. Ulaanbaatar, the capital and largest city, is home
to roughly half of the country's population.
MONGOLIA
ECONOMY
Economic activity in Mongolia has long been based on herding
and agriculture, although development of extensive mineral
deposits of copper, coal, molybdenum, tin, tungsten and gold have
emerged as a driver of industrial production. Besides mining
(21.8% of GDP) and agriculture (16% of GDP), dominant
industries in the composition of GDP are wholesale and retail trade
and service, transportation and storage, and real estate activities. As
of 2006, 68.4% of Mongolia's exports went to the PRC, and the
PRC supplied 29.8% of Mongolia's imports Mongolia is ranked as
lower-middle-income economy by the World Bank.
MINERAL INDUSTRY

Minerals represent more than 80% of Mongolia's exports, a proportion

expected to eventually rise to 95%. Fiscal revenues from mining represented
21% of government income in 2010 and rose to 24% in 2018. Mining
continues to rise as a major industry of Mongolia as evidenced by the number
of Chinese, Russian and Canadian firms starting mining businesses in
Mongolia.
AGRICULTURE

Agriculture in Mongolia constitutes over 10% of Mongolia's annual Gross

domestic product and employs one-third of the labor force. Crops produced
in Mongolia include corn, wheat, barley, and potatoes. Animals raised
commercially in Mongolia include sheep, goats, cattle, horses, camels,
and pigs. They are raised primarily for their meat, although goats are valued
for their hair which can be used to produce cashmere.
AGRICULTURE
The culture of Mongolia is mostly known for their architectures. Chultem
distinguished three styles in traditional Mongolian architecture:
Mongolian, Tibetan and Chinese as well as combinations of the three.
Among the first quadratic temples was Batu-Tsagaan (1654) designed
by Zanabazar. An example of the ger-style architecture is the lamasery
Dashi-Choiling in Ulaanbaatar. The temple Lavrin (18th century) in
the Erdene Zuu lamasery was built in the Tibetan tradition. An example of a
temple built in the Chinese tradition is the lamasery Choijing Lamiin Sume
(1904), which is a museum today. The quadratic temple Tsogchin in
lamasery Gandan in Ulaanbaatar is a combination of the Mongolian and
Chinese tradition. The temple of Maitreya (disassembled in 1938) is an
example of the Tibeto-Mongolian architecture.
RELIGION

Religion in Mongolia has been

traditionally dominated by the schools
of Mongolian Buddhism and
by Mongolian shamanism, the ethnic
religion of the Mongols. Historically,
through their Mongol Empire the
Mongols were exposed to the
influences of Christianity (Nestorianism
 and Catholicism) and Islam, although
these religions never came to dominate
 -END-
GROUP 5

Hezrone O. Escobar
Arwind James A. Binangbang
Eugene Parker O. Salas
Haithem M. Ghaleb
Filipo T. Ramos
Adrian Louise B. Manuel