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 In the case of the Philippines, how much do you think we are involved in the modern world system? What do you think are the advantages and disadvantages of being as such? 2

Economics Dec 16, 2020

 In the case of the Philippines, how much do you think we are involved in the modern world system? What do you think are the advantages and disadvantages of being as such?

2. How can we “upgrade” our own economy given the strength of the giant economies of our ally nations like USA and Japan?

3. How do we examine the Philippines version of economic globalization considering our colonial history?

Expert Solution

Q1)Phillipines is an Asian nation which had been colonized twice. It was a Spanish colony and later became an American colony.So it had Spanish and Hispanic  culture and has national identity in Asia.So it was exposed to a wider area of a modern world culturally.In the modern world system it is a matter of political ,economic and military participation.Its militray resources are less and so it is difficult for Phillipines to intervene in regions that is outside Philipines.It won't act against another country politically or militarily but if  Phillipines is attacked ,it will react.Phillipines non interfering friendliness will attract many nations towards Phillipines .This shows Phillipines success in its participation with the rest of the modern world.

Advantage of being part of this is that it shows the progress of the country and contributor to international economy.But the disadvantage is  that it highlights the failures of the countryand so the reputation of the country falls.The country may be influenced by other countries.

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