GE3-2 The Contemporary World October 26, 2020

Marion John “MJ” L. Uy Ms. April Joy M. Guanzon

BS BA – Financial Management SLMCS – HED

Module 5: Asian Regionalism

Explain. Read and Answer

1. How is regionalism different from and yet part of globalization?

Regionalism different from and yet part of globalization because in a intra and
extra-regional level we tend to share same common goods and services, peace, security,
investment, environment, transportation, information and communications technology,
educational and socio-cultural integration to local and global levels of administration
and global governance. Regionalism is to help sustain and maintain the region’s political-
economic growth across the world market economy emerging in the areas of trade and
finance. However, it will be regionalism is in fact a building block of achieving a
successful ‘globalized world’ and must be embraced rather than avoided.
2. Besides the stated concerns or issues on Asian Regionalism, site other issues or
concerns that you experience or see regarding Asian Regionalism?
• Insurance of multilateral-political legislation throughout the world.
• Failure of Kyoto Protocol.
• Conflict upon clash of civilization.
• Unpredictable future of regionalizing globalized world.
• Low income, high capital demand.
• Imbalances spillover of internal and external foreign exchange.
• Disparities between poor and rich class sector.
• Unstable financial monetary and fiscal policies and leverage.
• Extreme environmental degradation.
• Deflationary macroeconomic policies.

Elaborate. Position Paper