CONTEMP. MIDTERM EXAM

• Regions are not given or naturally created. They are the product of political and economic actors and social movements.
• REGIONALISM - is a political process characterized by economic policy cooperation and coordination among countries. (Claudio, 2018)
• REGIONALIZATION - is the concentration of economic flow within region resulting to binding together the region’s economy.
• The “North-South Divide”- is also known as the “Rich-Poor Divide”
• This division is purely not based on geographic location.
• GLOBAL NORTH - controls four-fifths of the income earned anywhere in the world.
• about 95% of the population in countries in The North have enough basic needs and have access to functioning education systems.
• GLOBAL SOUTH - it only has access to one-fifth of the world income.
• GLOBAL SOUTH- countries that have low-income and often treated unimportant. countries that belong to the Periphery
• Gross Domestic Product (GDP)- Used to measure of how countries are improving or deteriorating based on the development aspect.
• TUVALU- The small island nation has the lowest GDP in the world.
• The origin of dividing countries into the North-South Divide arose during the Cold War of the mid-20th century.
• cold war- is a state of conflict between nations that does not involve direct military action but is pursued primarily through
• The Soviet Union and China represented the East,
• United States and their allies represented the West.
• The United States and its allies won the Cold War and were labeled as First World countries.
• who are the Second World Countries?

  Soviet Union

  China
• poorer countries were eventually labeled as Third World countries.
• REGIONALIZATION - it is a process of dividing areas into smaller segments called regions.
• EAST-ASIAN INTEGRATION - is the strongest in trade in transport and machinery which the heart of these products is processing trade.
• PROCESSING TRADE - the kind of trade where different parts of the production process are located in different countries.
• REGIONAL INTEGRATION - the process by which two or more neighboring nation-states agree to cooperate and work closely together to achieve peace, stability, and wealth.
• ECONOMIC INTEGRATION - it is the process by which different countries come to agreement to remove trade barriers.
• POLITICAL INTEGRATION - states have completely joined together into a single market since there is a need for common policies in social aspect (education, health, etc.) and political institutions.
• SINGLE MARKET - the cooperating states become so integrated or involved that all barriers are removed.
• medium-high income: Singapore and South Korea
• medium-low income: Philippines and Indonesia
• low-income: Pakistan and Cambodia
• DIVERSIFIED CULTURES, RELIGIONS, AND CUSTOMS - Asia has a long history and brilliant ancient civilization but impedes the progress of integration.
• ISSUES AND PROBLEMS OF SECURITY - the issues on terrorism brought some negative consequences to the progress of Asia’s economic integration.
• ASEAN - the Association of Southeast Asian Nations was established on August 8, 1967 in Bangkok, Thailand.
• ASEAN there are 10 members of which the Philippines is one of its founding members.
• 3 PILLARS OF ASEAN:

  ASEAN Political-Security Community

  ASEAN Economic Community

  ASEAN Socio-Cultural Community
• Asia is the most dynamic and fastest-growing region in the world
• in Asia, the most dynamic is Southeast Asia
• in Southeast Asia, the fastest growing sub-region is the Philippines
• TRADE - the openness of Asian economy encouraged competitiveness and transfer of technology.
• FINANCIAL FLOWS - the regulation and supervision of Asia countries should keep cope up with complexities of banking business
• REGIONAL POLICY COORDINATION - imposing policies that strengthen the value of protectionism among the Asian countries
• Global South was known to aid the countries in the Southern Hemisphere to work in collaboration on political, economic, social, and environmental, cultural, and technical issues