Leaño, Ivy Ann Nicole S.

1. What are the different challenges that Asian nations faced with the phenomena of
globalization?

- New transnational threats, Globalization has contributed to the rise of energy and
environmental issues, food and water access, migration, and organized crime and terrorism as
major security concerns. To be effective, responses to these problems must be multilateral in
nature.

2. How does Asian nations confronted the different challenges brought by globalization?

- Globalization is an unstoppable phenomenon to which different states needs to adjust

to, not only those from Asia. However Asian countries should as much as possible, create a kind
of economic block to look out for each other, especially the ASEAN members which are
composed of nations that get along quite well compared to the northern Asians. I’m sure that
most countries have gradually prepared their institutions for the future such as well-defined
tariffs on incoming goods, adjusting their infrastructures in order to accommodate the increased
level of shipping activities. Communication lines would have been updated by now to meet the
requirements of global trade. Most of the changes caused by globalization will happen
organically and you just can’t prepare for it.

3. What different manifestation of Asian regionalism, and how does it affect Asian nations?

- From a static panel data simulation, it is found that sound transportation infrastructure
good governance, competitive taxation policies, sizeable markets, good education, democracy
and the trend towards industrialization are the main factors that serve as building blocks for
East Asian regionalism. A dynamic and outward-looking Asian regionalism could bring huge
benefits not just to Asia, but to the world. It could help sustain the region's growth, underpin its
stability, and with the right policies reduce inequality. A stable, cohesive, and productive Asia is
thus in everyone's interest.