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GECONTWO
BS Psychology 2A S.Y. 2023-2024
2. What is regionalism?
Regionalism is the formation of policies, economic, and social systems among
countries that share similar identities, ethics, regions, ecological sustainability, and health.
This is defined by policymakers, economic actors, and social movements. This is also
formed to deal with the challenges of globalization. Examples of groups created due to
regionalism are the European Union (EU), the Association of Southeast Asian Nations
(ASEAN), and the South Asian Association for Regional Cooperation (SAARC).
1. How the globalization affects the foreign relations of different countries in terms of :
a. Economic aspect - In the economic aspect, globalization affects foreign relations by
establishing connections among countries through exchange of products services, and
knowledge. With that, countries will tend to depend on each other to keep their market
growing and finances flowing.
b. Security aspect – Globalization can impact foreign relations in the security aspect
through factors such as migration, public health crises, and environmental degradation.
Covid-19 for instance put most countries at health risk and initiated cooperation of different
countries to send vaccines and other assistance.
c. Military aspect – Globalization poses opportunities for military alliances and arms trade
among countries which guarantees defense during shared security threats, promote
stability, and enhance military capabilities.
3. How the economic policy of American affects the economy of other countries?
The economic decisions made by the United States have important effects on other
countries' economies because of its position as a major global economic powerhouse. The
size, influence, and interconnectedness of the United States make its economic policies
have a significant effect on the global economy. Adjustments in US economic strategies
have the potential to cause backlash throughout international financial markets, trading
activities, investment trends, and economic development prospects for other nations.
Ramos, Jullanna Anne N. GECONTWO
BS Psychology 2A S.Y. 2023-2024
CHAPTER II: THE STRUCTURES OF GLOBALIZATION
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1. What are the different aspects of global economy?
The global economy consists of characteristics such as globalization, international
trade, international finance, and global investment. Globalization is the integration of
economies, societies, and cultures while international trade is the impact of globalization
which is the exchange of goods and services between countries. Furthermore, international
finance involves topics about currency exchange rates and monetary policies. Lastly, global
investment is a strategy than mainly takes place via foreign direct investment.
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1. What is glocalization
Glocalization is adapting international products, services, ideas, or businesses to fit
in the local system, the citizen’s preferences, and the country or region’s culture. It’s a
mixture of international and local influences on businesses and establishments. Examples
of these are the Multinational Corporations such as Apple and McDonald’s.