ASIAN REGIONALISM ACTIVITY Name:Sucalit, Reymar A. Year and Section:TCW- P2 Date: January 22, 2022 Score: _____________________ Directions: Answer the each of the following question with not more than 5 sentences discussion and not more than 15 words each sentence 1. What droves Asian Regionalism as reflected in the discussion? Asian regionalism is primarily motivated by the desire to advance welfare in the region, it would not do so by detracting from development elsewhere. The activation of regionalism in Asian countries is mainly because they bare using it as a political measure to ensure the realization of their own interests in the uncertain circumstances caused by the decline of the existing international order. 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. It can also help to sustain global economic progress at a time when other major regions are reaching economic maturity. 2. What commonalities can be inferred to the Asian countries discussed in the rise of Asian middle class which contributes to the creation of regional blocs (Asian Regionalism) in globalization? Regional trade agreements in Asia are built on the foundations of stability, investment, infrastructure, and trade. This was the aim of US firms to find cheaper labor in Japan and China. As a result, labor is increasing in countries like Vietnam. Intentionally, both Russia and China have maintained their currency prices low for a long time. As a negative, this makes traveling overseas more difficult, but as a plus, it allows a country to get more bang for its buck in terms of infrastructure development, which is a country's primary focus. Stability, security, support, and trade are all factors that contribute to regional blocs.