SOCIAL ECONOMICS: THE CONTEMPORARY

MISAMIS UNIVERSITY WORLD

A WORLD OF REGIONS
LESSON 2: ASIAN
REGIONALISM
INSTRUCTOR: CATALINO LARANJO EMPERIO
III SCIENCE COLLEGE OF ARTS
FACULTY, DEPARTMENT OF SOCIAL
AND SCIENCE
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LEARNING OUTCOMES

Understand the concept of Asian Regionalism

and the subtopics under the Domain of Asian
Regionalism.
Understand the Integration of Asian Region

Understand the challenges on regionalization and

globalization as well as the challenges in ASEAN
and COVID-19 in Asia
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TOPIC OUTLINE:

1 Regionalization vs 3 Challenges Of
Globalization Regionalization
And Globalization
In Asia

2 Integration Of 4 CHALLENGES:
Asian Regions ASEAN and
COVID-19
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Regionalization vs Globalization

Regionalization - It is the
concentration of economic It is a process of dividing
flow within a region area into smaller segments
thereby binding together called regions.
the region’s economy. Globalization- Promotes
economic integrations
Regionalism - is defined as across state borders around
the political goal of the world allowing many
creating a legally binding companies to trade
agreement between states internationally that permit
on a geographically limited a free market.
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Regionalization vs Globalization
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Integration of Asian Region

Economic Integration -
Regional Integration - process by which different
process by which two or countries come to
more neighboring nation- agreement to remove trade
states agree to cooperate barriers between them.
and work closely together Political Integration -
to achieve peace, process in which multiple
stability, and wealth separate political entities to
form a larger, more unified
political entity .
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Integration of Asian Region

Single Market – The Midpoint between political and

economic integration.

European Union is considered

as the best example.
 Factors that affected the Asia from Integrating Economically

1 Unbalanced
Economic Growth
2 Diversified
Cultures,
3 Issues and Religions, and
Problems of Customs
Security
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Integration of Asian Region

EAST ASIA
The strongest in trade transport and machinery which the
heart of these products is “processing trade.”

EAST ASIA
The production chain ended in a labor-intensive assembly
operations.

SOUTH ASIA
Seen to increase in manufactured exports.
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ASEAN: ASSOCIATION OF SOUTH-EAST ASIAN NATIONS

Established on August 8, Composed of 10 member-

1967 states
To accelerate the economic
growth
One of the primary
objectives of ASEAN is to
promote economic growth
and development among its
member states.
Promote on matters of
socio-cultural interest
ASEAN places significant emphasis
on cultural and social cooperation.
This includes promoting regional
cultural exchanges, preserving
cultural heritage, and fostering a
sense of shared identity among
member states.
 ASEAN: ASSOCIATION OF SOUTH-EAST ASIAN NATIONS

Established on August 8, Composed of 10 member-

1967 states
To accelerate the economic Promote on matters of socio-
growth
One of the primary ASEANinterest
cultural places significant emphasis
objectives of ASEAN is to on cultural and social cooperation.
promote economic growth This includes promoting regional
and development among its cultural exchanges, preserving
member states. cultural heritage, and fostering a
sense
Maintain regional peace andofprosperity
shared identity among
member states.
ASEAN places significant emphasis on cultural and social
cooperation. This includes promoting regional cultural exchanges,
preserving cultural heritage, and fostering a sense of shared
identity among member states.
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ASEAN: ASSOCIATION OF SOUTH-EAST ASIAN NATIONS

The goals are clearly manifested in its three pillars:

1. ASEAN Political-Security Community - The ASEAN Political-Security

Community (APSC) is one of the pillars of ASEAN and focuses on
promoting peace, stability, and security in the region.
2. ASEAN Economic Community- The ASEAN Economic Community
(AEC) is another pillar of ASEAN that is focused on economic integration
and cooperation.
3. ASEAN Socio-Cultural Community - The ASEAN Socio-Cultural
Community (ASCC) is the third pillar of ASEAN and focuses on
promoting cultural exchange, social development, and human capital
development within the region.
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In the year 2015, The ASEAN met to create the ASEAN Community, of which its main goals are:

Highly-competitive
Single Market and
Economic Region
Production Base

Equitable Economic Integration into the Global

Development Economy
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THREE FACTORS THAT DRIVE ECONOMIC INTEGRATION OF THE ASEAN

Market-led process Private-led process

Institution-led process
How Transnational and Multinational Corporations Affects the Integration of ASEAN

TNCs and MNCs geared their businesses

developing countries where labor-intensive
segment of the production chain is located and
wages are low.

Barriers to intraregional trade were reduced

due to ASEAN Free Trade Act (AFTA).

Exploitation of factor price within the

region Private-led process is the Sub-
regional Economic Zones
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According to former Department of Trade and Industry Assistant,

Secretary Cefirino Rodolfo

“Asia is the most dynamic and fastest-

growing region in the world; and in
Asia, the most dynamic is Southeast
Asia; and in Southeast Asia, the fastest
growing sub-region is the Philippine".
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Philippines current trade agreements;

1 3 Asia-Pacific
ASEAN
Economic
Cooperation
2 4
World Trade Free Trade
Organization Agreements
Philippines current trade agreements;

1 3 Asia-Pacific
ASEAN
Economic
Cooperation
2 4
World Trade Free Trade
Organization Agreements

Republic Act No. 10641 in 2014 entry of foreign

banks, is allowed and legalized removing specific
limits on the number of foreign bank, reopening the
three modes of entry, and allowing up to 100
percent foreign ownership in an existing bank and a
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Challenges on Regionalization and Globalization in Asia

Trade Financial Flows

Regional Policy
Coordination
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Trade - the exchange of goods and services between individuals, businesses, or

countries. It involves buying and selling products, and it can occur at various levels.
Including local, domestic and international.
How trade Challenges Regionalization and Globalization in Asia

Increased trade can lead to greater cultural

Trade can influence
exchange between regions.
migration patterns as
people move in response
Increased trade can lead to heightened competition to job opportunities,
among domestic industries and businesses within a economic conditions,
region. and trade-related factors.
Increasing trade can lead to environmental
challenges such as resource depletion, pollution,
and climate change.
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Financial Flows - refer to the movement of funds or capital between individuals,

businesses, governments, and financial institutions within and between countries.

How Financial Flows Challenge regionalization and Globalization in Asia?

Foreign Direct Investment and portfolio Financial flows can

investment can drive regionalization influence labor migration
on a global scale, as
Integration of regional capital markets can individuals seek
promote regionalization. employment opportunities
in regions with strong
Financial flows often accompany technology financial sectors or higher
transfer between countries. wages.
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Regional Policy Coordination - refers to the process of aligning and harmonizing

policies and strategies at the regional level to achieve common goals and address
regional challenges.
With countries becoming more closely integrated, each country has an increasing
stake inPolicy
How Regional the sound policies ofchallenges
Coordination the others.Regionalization and Globalization in Asia?

Regional policy coordination can help facilitate

the process of regionalization by promoting closer
Effective regional policy
economic and political ties among neighboring
coordination can make
countries.
regions more attractive to
foreign investment and
Coordinated regional policies can lead to the trade partners.
development of regional trade agreements and
economic integration initiatives.
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Challenges: ASEAN and COVID-19

The COVID-19 pandemic has significantly impacted the ASEAN community,

causing limited health infrastructure, economic recession, job losses, decreased trade,
and vaccine shortages. Logistical challenges, misinformation, and geopolitical
tensions have complicated efforts to disseminate accurate health information and
maintain public trust.

The COVID 19 has severely affected the economic activities and even upended the
lives of the people around the world, especially the East and Southeast Asian
Countries.
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Challenges: ASEAN and COVID-19

At the meeting, national delegates reached agreement on the need to:

Coordinate cross-border health

responses by scaling-up the use of
digital technology and artificial
intelligence for efficient information
exchanges. Institutionalize preparedness,
surveillance, prevention, detection
and response mechanisms of ASEAN
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Challenges: ASEAN and COVID-19

“ASEAN will continue working to

ensure the sustainable supply of
sufficient, safe and nutritious food that
meet the dietary requirement of
ASEAN populations during and after
the pandemic.” AMAF Chair Dato Ali
Apong, Minister of
Primary Resources and
Tourism of Brunei
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Challenges: ASEAN and COVID-19

The lack of social protection of the undocumented migrants workers in

and from ASEAN states can cause risk to their health and access to health
services.
According to The
Asian Development
Bank, “the economic
losses in Asia and the
Pacific to range
between $1.7 trillion
What are the three proven
strategies for boosting
regional cooperation?
1. Greater Mekong Subregion (GMS)
2. Central Asia Regional Economic
Cooperation (CAREC)
3. South Asia Subregional Economic
Cooperation (SASEC)
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Challenges: ASEAN and COVID-19

Global value chains involve the dispersion of
economic activities across countries, with each stage
adding value to the final product, highlighting the importance
of understanding regional roles in international trade dynamics.

Singapore and Vietnam have successfully managed the COVID-19

pandemic
through strong governance, public health measures,
and population cooperation. However, their success depends on factors
like population size, healthcare infrastructure, economic resources,
and geographic location. The dynamic nature of the situation may
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REFERENCES:
Book: Salado, F.B., Cimene, F.A., Siwagan, C.V., Gallinero, W.B.,
Santander, M.D., Relacion, A.M., The Contemporary World. Mutya
Publishing House, Inc.
Photos:
(1)
https://www.iai.it/en/eventi/assessing-asian-regionalism-between-functional-co
operation-and-geostrategic-competition
(2) https://stock.adobe.com/search?k=globalisation&asset_id=371352541
(3) https://forstpics.forestrynepal.org/1666233929026.jpg
(4) https://undefined.photos/photo-gallery/what-regional-integration
(5)
https://cdn.cfr.org/sites/default/files/styles/immersive_image_3_2_desktop_2x/