THE
CONTEMPORARY
WORLD
Learning Module 2023
THE
CONTEMPORARY
WORLD
Learning Module
As a result of the request of students at the University of Caloocan City, this learning
module has been conducted by students at the University of Caloocan City in response to the
requests for adaptable learning materials and evaluations that are based on the performance of the
students within the class. The module incorporates solo and group assignments to expose learners
to the current world, including the emergence of economic, political, social, and cultural systems
associated with globalization.
The goal of this course is to help students improve their critical and analytical thinking skills as
global citizens by assisting them in considering their responsibilities as global citizens.
THE
CONTEMPORARY
WORLD
About the Course
Throughout this subject, students are introduced to the modern world by taking a closer
look at the complex phenomenon of globalization that is taking place. It employs a wide range of
social science disciplines to investigate the economic, social, political, technological, and other
changes that have expanded awareness of the interconnectedness of people and places across the
world.
This course consists of necessary subjects on population education within the context of
population and demography.
THE
CONTEMPORARY
WORLD
About the Author
This learning module was put together by students from the University of
Caloocan City's Bachelor of Science in Accounting Information System section 1A.
KRISHA LEI OLANDA
JEFFERSON J. PIASTRO
MARIA KAYLE G. OLIVO
KENNETH JAY V. QUARTEROS
JAY ANN U. PANTALEON
NOLI JOEF M. REYES
AILEEN JOY T. PAUGIA
JERLYN CASSANDRA M. SALAZAR
CZARRIENHEL L. SANCHEZ
JOHN KENNETH A. SATURNINO
JAN GABRIELLE A. VELASCO
MICO C. ZINAMPAN
The
Contemporary
World
TABLE OF CONTENTS
What is Regionalism?
What is Globalization?
What is the Difference between Regionalization and Globalization?
What is Asian Regionalism?
Why Asian Regionalism
Importance of Asian Regionalism
What are the three propositions of Asian Regionalism?
What are the positive and negative effects of Asian Regionalism?
What are the effects of Asian Regionalism to the Philippines?
Asian Regionalism
LESSON: ASIAN REGIONALISM

Asian regionalism has been a key factor in determining the political, social, and economic environments
on the continent. Asian countries, with their varied cultures, economy, and geopolitical interests, are
realizing the value of working together to solve common issues and seize opportunities. This study
explores the many facets of Asian regionalism by looking at the major forces, changing dynamics, and
historical background that shape regional cooperation in the region.
A product of economic interaction between Asian countries. It’s not on a political planning but on an
economic interaction between Asian countries. As a results Asian Economies have grown not only richer,
but also closer together and more integrated. As Asian economies have grown larger and more complex,
they more become more integrated in a way of trade, financial flows, direct investments and other economic
and social exchange. Countries form regional associations for several reasons.
Military Defense: Collective Security: Regional associations provide a platform for countries to collaborate
on military defense. The concept of collective security involves member nations agreeing to mutual defense
against external threats. By forming alliances, countries can deter potential aggressors and enhance their
collective security.
Economic Cooperation: Resource Pooling: Countries join regional organizations to pool their resources and
expertise. This collaboration can lead to more efficient use of resources, particularly in areas like
infrastructure development, research, and technology.
Export Advantages: Regional associations create larger markets for member countries, promoting intraregional trade. This can result in better returns for their exports as barriers to trade are reduced within the
group, leading to increased economic growth.
Political Leverage: Collective Bargaining Power: By forming regional blocs, countries can negotiate with
other regions or superpowers from a position of greater strength. A united front allows them to exert more
influence in international negotiations, giving them increased leverage in shaping global policies and
agreements.
Protection from Superpower Pressures: Some countries join regional associations to shield themselves from
the undue influence or pressures exerted by superpowers. By working together, they aim to maintain their
sovereignty and resist external interference.
Independence Protection: Cushion Against Superpower Politics: Regional associations provide a buffer
against the geopolitical strategies of major powers. By collaborating with neighboring countries, nations can
reduce their vulnerability to the geopolitical maneuvers of more powerful states, thereby safeguarding their
independence.
Economic Crisis Management: Solidarity in Crisis: During economic downturns or financial crises,
countries within a region may come together to develop coordinated responses. Regional cooperation can
help mitigate the impact of economic shocks, stabilize currencies, and provide financial support to member
nations facing economic challenges.
According to (Tumoroh C. Brazalote, Ryan M. Leonardo, and Bernardino C. Ofalia) There are some aspects
that led to a greater Asian integration:
Market-Driven Integration:
The integration in Asia has been largely market-driven. This means that various systems, institutions, procedures,
social relations, and infrastructures have been established to facilitate and encourage countries within the region
to engage in economic exchange. This market-driven approach suggests that economic forces and opportunities
are key drivers of integration.
Formal Institutions like the Asian Development Bank (ADB):
The establishment of formal institutions, such as the Asian Development Bank (ADB), has played a role in
fostering integration. The ADB, conceived in the 1960s, is an international financial institution that focuses on
promoting social and economic development in Asia. It provides financial assistance and technical expertise to
its member countries.
Economic Grants and Overseas Development Assistance:
Better-off Asian economies contribute to integration by providing economic grants and overseas development
assistance. For example, the Japanese International Cooperation Agency (JICA) is mentioned, and its goal is to
work on human security and quality growth in the region. This kind of assistance can promote development and
cooperation among Asian nations.
Expansion of Production Networks:
The expansion of production networks is another factor contributing to integration. Countries in Asia are engaging
in regional division of labor, emphasizing comparative advantage. This means that nations specialize in certain
economic activities where they have a competitive edge, leading to a more efficient and interconnected regional
economy.
Cooperation Among ASEAN and East Asian Countries:
Cooperation among countries in the Association of Southeast Asian Nations (ASEAN) and East Asia has
been instrumental in fostering integration. The passage mentions the ASEAN + 3 Financial Ministers' Process,
which established two economic structures—the Chiang Mai Initiative and the Asian Bond Markets Initiative.
These structures aim to enhance policy dialogue, coordination, and collaboration on common financial, monetary,
and fiscal issues among the participating nations. (Tumoroh C. Brazalote, Ryan M. Leonardo, and Bernardino C.
Ofalia)
Objectives:



Explore the historical foundations: Examine the historical foundations and turning points that have
contributed to the growth of Asian regionalism while taking into account the region's varied historical,
cultural, and geopolitical settings
Examine economic integration: Examine the frameworks and systems that enable economic integration
between Asian countries, including trade agreements, partnerships, and regional organizations, paying
particular attention to how they affect the economy of each member country and the region as a whole.
Assess geopolitical implications: Examine the geopolitical factors that affect Asian regionalism, such as
security cooperation, strategic alliances, and the major powers' influence on the balance of power and
stability in the region.

What is Regionalization?
The practice of splitting a larger geographic area into smaller sections for administrative, economic, or
political reasons is known as regionalization. It can be voluntary or imposed by a superior. The goal of
regionalization is to make controlling a big area more efficient and successful by splitting it down into smaller,
more manageable parts. Regionalization can also refer to the process by which a region of the world including
numerous countries becomes more economically or politically important than the individual countries within
that region. Economists have observed an increase in the regionalization of various sections of the world into
trade blocs.
What is Globalization?
Globalization refers to the increasing interconnection and interdependence of individuals, businesses, and
governments around the world. It has been going on for millennia, but it has intensified in recent decades due to
technological and transportation developments. As a result, there has been a growth in trade, investment,
migration, and the diffusion of ideas and culture. It has, however, introduced new concerns, such as increased
inequality and environmental deterioration. Globalization is described by the National Geographic Society as
"threads of an enormous spider web formed over millennia," with the Silk Road being an early example. New
technologies, like as metallurgy and transportation, played an important role in Silk Road trade, resulting in the
creation of coinage, roads, and enhanced agricultural output.
What is the Difference between Regionalization and Globalization?
In summary, regionalization and globalization differ in that regionalization refers to the process of dividing
a larger geographic area into smaller regions for administrative, economic, or political purposes, whereas
globalization refers to the process of increasing interconnectedness and interdependence among people,
businesses, and governments around the world.
What is Asian Regionalism?
Asian regionalism is the product of economic interaction, not political planning. As a result of successful,
outward-oriented growth strategies, Asian economies have grown not only richer but also closer together. In
recent years, new technological trends have further strengthened ties among them, as have the rise of the PRC
and India and the region’s growing weight in the global economy. Asian regionalism can take various forms and
may include regional organizations, agreements, and initiatives aimed at fostering collaboration and addressing
common challenges.
Why Asian Regionalism?
The center of gravity of the global economy is shifting to Asia. The region’s economy is already similar in
size to those of Europe and North America, and its influence in the world continues to increase. In many Asian
countries, the cycle of poverty has been broken; in others, this historic aim is within sight. Asia’s extraordinary
success has brought new challenges—while rapid economic growth remains a priority, citizens demand that it
also be sustainable and more inclusive. And Asia is now so important to the world economy that it must also
play a larger role in global economic leadership. Regional economic cooperation is essential for addressing
these challenges. Asia’s economic rise is unprecedented. The region is home to over half the world’s
population, produces three tenths of global output (in terms of purchasing power), and consistently records the
world’s highest economic growth rates. The Asian “miracle” (World Bank 1993) did not end with the 1997/98
financial crisis a decade ago; for some countries, it marked the beginning of renewed acceleration. The question
is no longer whether Asia will be central to the 21st century economy, but rather how it will exercise its
prominent role and how its dependence on the rest of the world has decreased. Regionalism is a relatively new
aspect of Asia’s rise.1 Asia’s economies are increasingly connected through trade, financial transactions, direct
investment, technology, labor and tourist flows, and other economic relationships.
Importance of Asian Regionalism
Regionalism in Asia reflects the predominance of politics over economics and aims to enhance political
stability in the region. Regionalism is important for Asia and the world as it brings opportunities and challenges
for national and foreign policies and enhances the integration of national economies. These benefits from
cooperation could also extend to developing Asian economies that are not yet part of the region’s integrating
core. Indeed, in relative terms, newcomers to regional integration have the most to gain from the expanded
opportunities for economic development that it provides. Hence, an important aim of this study is to make the
case for integration in countries that have not yet adopted an outward-oriented development strategy and to
provide guidance on how to build stronger regional connections
What are the three propositions of Asian Regionalism?
Asian regionalism has received considerable attention in recent years, notably in the context of the
economy, financial stability, and regional economic cooperation. The three propositions you mentioned are
explained below:
Economy:

Trade Integration: Promoting trade integration among member countries is an important part of Asian
regionalism. Tariffs and trade barriers are reduced or eliminated to promote the flow of products and
services across borders.

Connectivity of Supply systems: Many Asian countries are tightly connected into global supply systems.
Regionalism seeks to increase these ties by encouraging improved connectivity, infrastructure
development, and cooperation among member countries in order to improve production and distribution
efficiency.
Financial Security:

Currency Cooperation: Some Asian regionalism activities are focused on currency cooperation, such as
conversations regarding the feasibility of a shared currency or currency swap arrangements. This aims to
improve financial stability by providing member countries with means to deal with currency crises.

Financial Regulations and oversight: To build a more stable financial environment, regional cooperation
entails coordinating financial regulations and oversight. This could involve unifying norms for banking,
insurance, and other financial institutions in order to avoid financial contagion from spreading.
Economic Cooperation in the Regions:

Infrastructure Development: A common goal is collaboration in the development of regional infrastructure
projects such as transportation networks, energy grids, and communication systems. By easing the
movement of goods, services, and people, this promotes economic progress and integration.

Coordination of Economic Policies: Member countries frequently strive to coordinate economic policies
in order to handle common challenges and opportunities. This may entail aligning regulations, standards,
and policies in order to create a more welcoming climate for businesses and investors.

Collaboration in Research and Development: Some regional projects focus on collaborative research and
development activities to stimulate creativity and technological growth. This can help the region's overall
economic competitiveness.
What are the positive and negative effects of Asian Regionalism?
Positive effects of Asian Regionalism:
1.
2.
3.
4.
5.
6.
Market-Driven Integration Countries in Asia are teaming up to exchange goods and services, helping
each other economically.
Formal Institutions (Asian Development Bank) Organizations like the Asian Development Bank (ADB)
were created to help Asian countries develop. They provide money, technical help, and support for
things like farming and rural development.
Economic Grants and Assistance: Richer countries in Asia, like Japan, provide assistance to help poorer
nations grow and improve their communities.
Expanded Production Networks: Asian countries collaborate in making specific products, making the
region stronger and more interconnected.
Cooperation Among ASEAN and East Asian Countries the ASEAN +3 Financial Ministers' Process
helps countries talk about and work together on money-related issues. This cooperation prevents clashes
over cultural differences and economic policies.
The Consensus Rule in Decision-Making: Asian countries often make decisions by agreeing with each
other, considering their diverse cultures and ways of doing things.
Negative effects of Asian Regionalism
1. Sovereignty Concerns: Countries in ASEAN are unsure about how much of their own control they
should give up for the sake of regional stability.
2. Inconsistent Response to External Issues ASEAN nations don't always agree on how to deal with
external problems, like China's actions in the West Philippine Sea. Economic interests sometimes
influence their diplomatic positions, creating inconsistency.
3. Conflict with Democracy There's a clash between the idea of "participatory regionalism" (involving
people in decision-making) and ASEAN's non-interference policy, indicating a tension between
democratic values and regional principles.
4. Economic Influence Economic aid and investments from China can create disagreements among
ASEAN countries, potentially affecting their independence in decision-making.
Effects of Asian Regionalism in the Philippines
Asian regionalism refers to the increasing integration and cooperation among countries in the Asian
region. It can be traced back to various factors, including historical, cultural, and economic ties. The origins of
Asian regionalism can be seen in initiatives such as the Association of Southeast Asian Nations (ASEAN),
which was established in 1967, and the East Asia Summit (EAS), which was formed in 2005. These regional
organizations aim to promote peace, stability, and economic development in the region through dialogue and
cooperation.
Asian regionalism has had both positive and negative effects on the Philippines.
Positive Effects:
1. Economic Integration: Asian regionalism, particularly through organizations like the Association of
Southeast Asian Nations (ASEAN) and free trade agreements like the ASEAN Free Trade Area (AFTA), has
facilitated increased trade and investment opportunities for the Philippines. This has led to economic growth,
job creation, and improved competitiveness in the global market.
2. Market Access: Regional integration has provided the Philippines with greater access to larger markets within
the region. This has resulted in increased exports of goods and services, expanding business opportunities for
Filipino entrepreneurs and industries.
3. Collaboration and Cooperation: Regionalism has promoted closer cooperation and collaboration among
Asian countries, fostering stronger ties and partnerships. This has allowed for the sharing of knowledge,
expertise, and resources in various fields, such as technology, infrastructure development, and agriculture.
4. Cultural Exchange and Understanding: Asian regionalism has encouraged cultural exchange and
understanding among member countries, including the Philippines. This has fostered a sense of regional identity
and appreciation for diverse cultures, enhancing tourism and strengthening people-to-people connections.
Negative Effects:
1. Unequal Distribution of Benefits: While regional integration has brought overall economic benefits, there
may be disparities in terms of how these benefits are distributed within the Philippines. Some regions and
sectors may benefit more than others, leading to potential socio-economic inequalities.
2. Competition and Market Challenges: Increased regional integration also means facing greater competition
from other economies in the region. The Philippines may have to compete with more established industries and
face challenges in terms of market access and competitiveness.
3. Loss of Autonomy: Asian regionalism may require some level of alignment and adherence to regional
policies and regulations, which can limit the country's autonomy in decision-making. It is important for the
Philippines to strike a balance between regional cooperation and maintaining its national interests.
4. Potential Cultural Assimilation: While cultural exchange is a positive aspect of regionalism, there is a
possibility of cultural assimilation, where local traditions and customs may be overshadowed by more dominant
regional cultures. It is important for the Philippines to preserve and promote its unique cultural identity amid
regional integration.
Assignment: Metacognitive Reading and Report on COVID-19
1. The three significant things learned from the assigned reading are:
a. The importance of considering competition policy beyond national borders during global crises like
COVID-19. This shows the need for international cooperation to address market failures and ensure
competitive markets.
b. The pandemic has raised questions about the effectiveness of competition authorities and the potential
conflicts between competition law and industrial policy objectives.
c. The necessity of cross-border cooperation among ASEAN countries to mitigate the negative impacts
of relaxed competition rules and enforcement. Collaboration and coordination are essential to address
market failures effectively.
2. The three things that are still unclear are:
a. The specific functioning of the ASEAN Enforcement Network and the measures it takes to promote
cooperation among member countries.
b. The specific strategies for effectively balancing competition law and industrial policy during a crisis and
minimizing unintended consequences.
c. The potential long-term effects of relaxing merger control laws during an economic downturn and how
they can be addressed to maintain competitive markets.
3. I used to think that...
I used to think that competition law enforcement would remain unaffected during a crisis like the
COVID-19 pandemic. However, the reading has made me realize that policymakers and competition authorities
need to strike a balance between competition law and industrial policy in times of crisis to facilitate economic
recovery.
4 The three questions about the reading are:
a. How have ASEAN countries coordinated their state interventions and competition law enforcement
during the COVID-19 crisis to minimize adverse effects on markets and ensure a comprehensive
approach?
b. What are some specific examples of crisis collaborations authorized by ASEAN countries and how have
they impacted competition within the region?
c. How do competition authorities address the challenges of substantive analysis and procedural issues in
merger decisions during an economic crisis like the COVID-19 pandemic?