1.

Do you think that the Philippines is harmed as other countries transfer their activities to is through
outsourcing
No. In fact, the Philippines benefits from it. When a certain company in other countries involves itself in
an outsourcing normally it brings harm locally than any other countries outside. And given that the
Philippines has outsourcing companies, this means that the act of companies involving in outsourcing
opens up works for the Filipinos. Hence, the Philippines benefits to it.
2. In what way do international organizations help our country's economy?
Their functions include maintaining standards to ensure safety, helping developing countries achieve
economic security, and establishing norms regarding how countries make trade agreements and resolve
conflicts.

3. Does the position of rich countries as giants in the economic chain threaten the status of less
developed countries in the global market?

In a sense Yes, it does threaten the status of the less developed countries, for the title itself of being a
developed country is a high status compared to the very living or the normal system and progression from
other countries who were not yet or not developed.

4. What are the impact of global flows on the global south?

Over the past two decades, a fundamental transformation has taken place in the global economy
caused by the impressive economic growth of developing countries like China, India, Brazil, and
South Africa. The economic center of gravity is inexorably moving toward the developing South.
The remarkable upsurge in cooperation between developing countries, characterized as
SouthSouth cooperation, must be understood as part of this larger story.
5. Examine the gap between the rural and urban areas across the globe. How is the gap affected
byglobalization?
A long standing debate among academics and policy-makers concerns whether globalization
leads to a higher degree of inequality. In this regard, China has attracted particular attention. In
contrast to the existing literature that has concentrated on either overall inequality or
coastalinland regional inequality in China, this paper analyzes the impact of foreign trade and
foreign direct investment on urban-rural income inequality. The key hypothesis is that if openness
to foreign trade and foreign direct investment increases, then urban-rural income inequality will
also increase. The paper examines the relationships empirically using panel data in both
randomeffects and fixed-effects models, for 31 provinces in China over the period 1978-2008.
The study measures globalization as both the trade-to-GRP ratio and the FDI-to-GRP ratio, and
urban-rural inequality as the urban-rural income ratio. Findings indicate that the urban-rural
income gap has been widening since China began to integrate into the world economy, but
globalization is not the principal reason for the increase. The study finds no significant
relationship between foreign trade and urban-rural income inequality in China. In fact, findings
indicate that foreign direct investment has actually helped to reduce inequality.
6. What do you think is the impact of urbanization and the rise of global city on the agricultural
sector?
• Farmlands was turned into urban lands.
 • Farmers lost farms to tilt and can result in the loss of the source of income.
• A possible food shortage if farmlands are continuously changed to urban lands.
7. In the case od the Philippines, how much do you think are we involved in the modern
worldsystem? What do you think are the advantages and disadvantages of being a part of such?

Let's discuss first what is being asked as the Modern World System.

• Established by Immanuel Wallerstein

• This was an attempt to explain and correct the inadequacies of global systems in a global scale.

Three Assumptions of the Modern World System:

1. The Social System: consists of cultural, political and economical

2. The World Economy: assumes that the world is divided into three main zones (Core,
SemiPeriphery and Periphery)
3. The Interpretaion: understood in state-strength ans cultural integration.

Having stated the assumptions of the Modern-World System we can now place our opinion in case of the
Philippines.

The Philippines is placed in the periphery of the World Economy. With regards to " how much is
involved?" as asked in the question as per looking at the assumptions the Philippines is greatly involved
in the Modern World System, in fact all countries are. We are being analyzed as a Third World Country
because of this assumption. Our economical ranking all over the word is classified as in the edges or in
the tail given that we don't have a strong economy to begin with.

Advantages and Disadvantages

Advantages:

The advantages of being in the Periphery are as follows:

1. We being workers from a country that belongs to the periphery of World Economy can provide
cheap labor of work force, That is why a lot of work are provided to us from first world countires
or those belonging from the Core like from US, UK, Canada etc.
2. We easily are provided aids whenever there are economic turmoils.
3. Materials provided by us are cheaper as copared from countries from the semi- periphery or the
core. Due to this cheaper raw materials means more profit for manufacturers or Business owners
from core countries.
Disadvantages:

The disadvantages of being in the Periphery are as follows:

1. Jobs are not available for all only the privileged ones that were able to attend HS/ college or are
licensed professionals.
2. Literacy rate is very very low that is why not all people are able to have a decent paying job.
3. Economic budget is being dragged to helping the less fortunate people.

8. How can we "upgrade" our economy given the strength of the global economy, especially the
giant economies like the united states and japan?
o Answer: Some ways to upgrade the global economy
are: o Promote economic growth through innovation. o
Strategic immigration reform. o End the war on drugs.
o Require unemployed workers to volunteer.
o Cut health care costs. o Remove unnecessary and
unclear laws.

The United States and Japan are the two largest national economies in the world. The United States is the
world's largest deficit and debtor country. Japan is the world's largest surplus and creditor country. The
exchange rate between the dollar and yen has fluctuated violently, strengthening from 360:1 as recently
as 1971 to 80:1 In early 1995 before weakening again to about 130:1 at present. Trade frictions over the
past thirty years, leading to such extreme measures as America's import surcharge in 1971 and Japan's
acceptance of "voluntary export restraints" in a wide range of industries in the 1980s, have threatened the
stability of the global trading system. Hence the course of economic relations between the United States
and Japan plays a critical role in the world economy as well as a central role in overall relations between
the two countries.

9. How do we examine economic globalization considering our colonial history?

The economic globalization inconsideration of colonial history by learning and understanding the
paradigm shift between closed door mercantile systems. It is colonialismvs open door economics
where anyone can trade and do business with anyone else.