RAMOS, Ezekiel B.

BPEA – 2A
The Contemporary World Midterm Examination

1. Jagdish Khatri concluded that, Thus, it is amply clear that, if taken in the right
spirit, the concept & practices of Globalization will help us in improving our lives
and productivity. We can still keep our nation back by harping upon outdated
ideologies that have become obsolete even in the regions where invented. Or,
we can equip ourselves to take the maximum advantage of opportunities thrown
open by globalization and help our country to realize its true potential. The choice
is ours. From this conclusion, what is being implied by the author?
In number 2, give three examples based on your answer.
A. Attributes of globalization
B. Definition of Globalization
C. Theories of globalization
D. History of Globalization

2. Example one is Singapore. They are debunking protectionism and trade policies to
survive in the post-COVID-19 world. If they don`t do such a thing, they will not recover
from the effects of COVID-19 on their economy, in addition, they can lose the title of the
“Busiest transshipment port” and the fastest-growing economy. Another example is
Switzerland, based on the most Globalized country, which is top-ranked in Globalization
Index 2021. Ranking 20th in GDP with $870 Billion. The last example is our country. The
Philippines is also top-ranked in the most Globalized country. Attracting foreign investors
to grow their business inside our country gives us more job opportunities, high-tourism
statistics, etc.

3. Give Three (3) countries and determine and classify them whether they are core,
semi-periphery, or periphery. Justify by giving their GDP/capita, literacy rate, and
mortality rate.
- GDP per capita is "the sum of gross value added by all residents producers in the
economy plus any product taxes (fewer subsidies) not included in the valuation of
output, divided by midyear population". In a brief and short term. it is a measurement
 of the total economic output of a country divided by the population and adjusted for
inflation. That is why the mortality rate is also included in GDP findings. As per the
question above, GDP is one of the factors that contributes to the characteristics
(core, semi-periphery, and periphery) of a country. In addition, strong military,
resources, and significant social; power is also included for a country classified as a
"Core" country. First on our list is the U.S.A. (United States of America). With a GDP
increase of 6.3% or $1.61 Trillion to a level of $27.36 Trillion. As of today, the current
level of US GDP is 27.94T. For its GDP per Capita, 76,343.25 as of 2022 and
80,412.41 in 2023. With a 9.172 to 9.226 mortality rate as of 2023-2024. It is
classified as a Core country. For Semi-Periphery Country, we have South Korea. Its
GDP will increase 2.0% in 2023 to a level of $1.70 Trillion. and $2.9 Trillion in PPP
(Purchasing Power Parity) earning the 13th rank in GDP. Its GDP per Capita is
33,147 in 2023 and Classified as a Semi-Periphery Country. With a 7.099 mortality
rate as of 2024. For the classification of Periphery, we have our very own country.
Ranked 34th in GDP with $436.6 Billion in 2023. In the first quarter of 2024, our GDP
increased to $475.94 Billion with a $1.38 Trillion PPP (Purchasing Power Parity).
With a 6.320 mortality rate as of 2023. In addition, we are listed as a developing
country that belongs to Asia.

4. What are the three (3) countries in Asia that are considered part of the global
North? Give a brief history of their development.
- The Global North does not refer to a geographic region in any traditional sense but
rather to the relative power and wealth of countries in distinct parts of the world.
Societies in the Global North are internally stratified and diverse such that not
everyone in the Global North is rich and powerful. Its attempts to categorize the
world order have been based more on politics and economics. Global North would
include the United States, Canada, England, nations of the European Union, as well
as Singapore, Japan, South Korea, and even some countries in the southern
hemisphere: Australia, and New Zealand. The Global South, on the other hand,
would include formerly colonized countries in Africa and Latin America, as well as the
Middle East, Brazil, India, and parts of Asia.
- Japan: During the Meiji era (1868 - 1912) after the fall of the Tokugawa Shogunate
and the founding of the Meiji government, Japan underwent to Westernization.
Westernization is a process where societies adopt what is considered to be Western
 Culture. They went to rapid industrialization and a capitalist economy. It focuses on
textile industries, and cotton and silk production that are based in their rural areas.
During the 1890s, Japanese Textiles dominated the home market and competed with
British products. Japan`s government also intended to recruit 3,000 Westerners to
teach modern science, mathematics, technology, and language. The rise of Japan
continued to the Showa Era (1926 - 1989) wherein Japan`s economy suffered less
from the great depression than most industrialized nations, in addition to the
expansion of Japan`s military power. Through their invasions, they sought to acquire
and develop critical natural resources to secure economic independence. Japan`s
economy expanded and rose through Steel production, mining, and manufacturing.
All of this was devastated by the Pacific war leaving them shortages, inflation, and
currency devaluation. Their next step for their economy is changing occupations.
From agriculture, they change from manufacturing automobiles, steel, shipbuilding,
chemicals, and electronics. They grew rapidly from wholesaling, finance, real estate,
communications, etc.
- Singapore: Was an undeveloped country way back in the '60s but today, it is one of
the world's fastest-growing economies. Singapore embraces globalization, free-
market capitalism, education, and pragmatic policies, the country has been able to
overcome its geographic disadvantages and become a leader in global commerce. In
1965, the country gained its independence when the Malaysian parliament voted to
expel Singapore from Malaysia because of the growing Chinese population and the
fear of changing Malay`s heritage and political ideologies. Meanwhile, the country
was left with a lack of natural resources, sanitation, proper infrastructure, and
adequate water supply. To stimulate the development, they sought international
assistance but was unanswered, leaving Singapore to fend for itself. They leaned
with Globalization, trading goods with Europe and America, and knew they had to
connect with the developed world and convince corporations to manufacture in
Singapore. The secure investors (the majority were the United States and Japan)
focused on developing its human resources through technical school. Another step is
centralizing the government. To attract investors, Singapore had to create an
environment that was safe, corruption-free, and low in taxation. To make this
feasible, citizens needed to suspend their large measure of freedom in place of a
more autocratic government. After the centralization of government, they created a
Market economy. The port of Singapore is now the "world`s busiest transshipment
 port", surpassing Hongkong and Rotterdam. In addition, the tourism industry is also
growing rapidly thanks to the country`s cultural heritage. As of today, 3,000
multinational corporations are operating in the country, accounting for more than two-
thirds of its manufacturing output and direct export sales. With just 433 square miles
and 3 million people, Singapore can produce a GDP that exceeds $300 billion
annually.
- Korea: Based on a blog/reading, South Korea has 3 periods of Economic History.
First is the period of Malthusian stagnation up to 1910, second is the colonial period
10`s to 45`s, and third is the post-colonial decades where living standards improved
rapidly. We begin with Dynastic degeneration where the economy and the nation`s
wealth is dependent on agriculture and trade. Where the "government" imposed a
tribute system on a little-commercialized peasant economy, collecting taxes in the
form of products and mobilizing labor to obtain the handicrafts and services needed.
Centuries have passed and they went to colonial transition to Modern economic
growth. Japan colonized and modernized Korea giving them a development state.
They improve infrastructure, and transportation through railways, and roads.
Communication networks were improved which rapidly integrated goods and factor
markets both nationally and internationally. They also set health campaigns and
revamping of the education system. From 1911-40 the share of manufacturing in
GDP increased from 6 percent to 28 percent, and the share of agriculture fell from 76
percent to 41 percent. The most significant factor in rapid industrialization was the
adoption of an outward-looking strategy in the early 60`s. They focused on
manufacturing, technologies, and electronics which are supported by the South
Korean government and boost their productive efficiency to compete with the Global
Market. The steel and shipbuilding industries in particular played key roles in
developing South Korea's economy during this time. For the first half of the 1990s,
the South Korean economy continued a stable and strong growth in both private
consumption and GDP. The 1997 Asian financial crisis (was a period of financial
crisis that gripped much of the east and southeast Asia during the late 1900s). They
also invest in High-tech industries producing goods such as new materials,
mechatronics, robotics, bioengineering, fine chemistry, and aerospace. These
exports boost the growth of the economy, with finished products such as electronics,
textiles, ships, automobiles, and steel being some of its most important exports.
5. Protectionism is discouraged in globalization. Why China is being criticized while
Singapore is not?
- Protectionism is the reduction or the total blackout of international trade. Its policies
aim to shield domestic producers and domestic workers from foreign competition.
Globalization seeks to have a free market/trade. That is why protectionism is
discouraged in Globalization. Every government sets policies and rules to protect
domestic products and jobs from foreign competitors. On the other hand,
protectionism policies also benefit the government through taxes from foreign
competitors.
In the case of China, their protectionist policies play a key role in China`s national
strategy. They recognize that strong IP protection is essential for cementing its high-
tech leadership. Beijing has implemented over 6,000 unilateral interventions that
harm foreign commercial interests since 2009, while it has imposed more than 90
tariffs since 2021, according to Global Trade Alert, an independent initiative that
monitors trade policy announcements from around the world. On the other hand,
Singapore and its trade barriers are being debunked because it is the key to survive
in the post-COVID-19 world. They can recognize investors that have chosen to site
and businesses in Singapore. China`s protectionist policies play a key role while
Singapore is resisting those policies.

6. McDonald`s is a globalized company; explain how glocalization operates in the

case of McDonalds.
- Glocalization is the combination of globalization and localization. It is used to
describe a product that is globally marketed but adjusted to another local
consumer. In the case of McDonald`s, they have built their fast-food
restaurants in almost every country in the world. For them to sell their “own”
or American-style food, they must first know the culture of the country that
they will venture in. For example, in India, in line with their respect for India`s
culture, they do not offer any beef or pork items. They`ve adjusted their
menus, food, and services for the locals in India. Today, India has 512
McDonald's restaurants, and it is the second-largest fast-food chain in terms
of revenue. On the other hand, McDonald`s in our country doesn`t have any
adjustments in terms of the food they offer. Instead, they adjusted their
 infrastructure. Some McDonald`s in our country, especially from the north, are
labeled McDonald`s but their place is connected to the heritage and culture of
the place. Some are old-fashioned houses or ancestral houses. From our
examples, this defined that the success of a venture or company (worldwide)
is through their adjustments and how they will attract and interact with their
markets. In simple business terms, you need to attract your market, adjust to
their wants, and sell them your products.

:“Ano tawag sa samahan ng mga togue?”

:”Together” **dad jokes

“I am the appointed son of my father”

Sources:

https://www.bea.gov/news/2024/gross-domestic-product-fourth-quarter-and-year-2023-advance-
estimate#:~:text=Current%2Ddollar%20GDP%20increased%206.3,(tables%201%20and%203).

https://en.wikipedia.org/wiki/Economy_of_South_Korea

https://www.macrotrends.net/global-metrics/countries/KOR/south-korea/death-rate

https://en.wikipedia.org/wiki/Economy_of_the_Philippines#:~:text=In%202023%2C%20the%20Philippine%20econom
y,to%20the%20International%20Monetary%20Fund.&text=%24475.94%20billion%20(nominal%3B%202024%20est,(
PPP%3B%202024%20est.)
https://www.imf.org/external/datamapper/profile/PHL

https://milnepublishing.geneseo.edu/genderedlives/chapter/chapter-15-the-global-north-introducing-the-region/

https://library.oapen.org/bitstream/id/e3bfd9c3-f16e-4379-9894-df07c103757a/9781315444031.pdf

https://www.thoughtco.com/singapores-economic-development-1434565

https://eh.net/encyclopedia/the-economic-history-of-korea/