Podcast
Questions and Answers
Which of the following countries is considered part of the Global North?
Which of the following countries is considered part of the Global North?
- Nigeria
- Canada (correct)
- India
- Brazil
The Global South consists predominantly of economically developed countries.
The Global South consists predominantly of economically developed countries.
False (B)
What is the primary characteristic of countries in the Global South?
What is the primary characteristic of countries in the Global South?
They tend to have agrarian economies and experience war, conflict, poverty, and tyranny.
Which characteristic is associated with the Global South?
Which characteristic is associated with the Global South?
The Global North controls _____ of the income earned worldwide.
The Global North controls _____ of the income earned worldwide.
The Global North is characterized by high economic and educational development.
The Global North is characterized by high economic and educational development.
Which country is NOT commonly included in the Global North?
Which country is NOT commonly included in the Global North?
Match the following regions with their characteristics:
Match the following regions with their characteristics:
What economic pattern is often compared to 'flying geese' in reference to East Asian economies?
What economic pattern is often compared to 'flying geese' in reference to East Asian economies?
Developing nations can never become part of the Global North.
Developing nations can never become part of the Global North.
Countries in the Global North tend to have ______ government structures.
Countries in the Global North tend to have ______ government structures.
Match the following characteristics with either Global North or Global South:
Match the following characteristics with either Global North or Global South:
What percentage of the Global South has enough food and shelter?
What percentage of the Global South has enough food and shelter?
What impact did the 1997/1998 financial crisis have on Asian economies?
What impact did the 1997/1998 financial crisis have on Asian economies?
Economic interaction between Asian countries has grown weaker over recent years.
Economic interaction between Asian countries has grown weaker over recent years.
What is a key characteristic of globalization?
What is a key characteristic of globalization?
Name one characteristic that represents the socio-economic divide between the Global North and Global South.
Name one characteristic that represents the socio-economic divide between the Global North and Global South.
Regionalization helps to break down barriers to trade between neighboring states.
Regionalization helps to break down barriers to trade between neighboring states.
What does intra-regional trade refer to?
What does intra-regional trade refer to?
Globalization has been shown to drive great advances in __________.
Globalization has been shown to drive great advances in __________.
Match the type of integration with its characteristic:
Match the type of integration with its characteristic:
Which of the following is NOT a focus of regional integration?
Which of the following is NOT a focus of regional integration?
A regionalized system is more likely to assist in international humanitarian aid efforts during disasters.
A regionalized system is more likely to assist in international humanitarian aid efforts during disasters.
How does globalization impact the movement of people?
How does globalization impact the movement of people?
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Study Notes
Global North and Global South
- The Global North refers to developed societies of Europe and North America, characterized by established wealth, technological advancement, political stability, zero population growth and dominance of world trade and politics.
- The Global South refers to developing countries which represents mainly agrarian economies in Africa, India, Latin America and others that are not as economically sound and politically stable.
- The Global North controls 4/5 of the income earned anywhere in the world.
- 90% of the manufacturing industries are owned by and located in the North.
- The Global South has access to 1/5 of the world’s income.
- As nations become economically developed, they may become part of the “North", regardless of geographical location.
- Any nations that do not qualify for "developed” status are in effect deemed to be part of the "South”.
- The Global North are considered as the high income countries such as Norway, Australia, New Zealand, Canada, US, Belgium, Iceland, Japan, Sweden, Netherlands and most of Western Europe.
- The Global South are countries that are less developed and characterized by low level of economic development, large inequalities in living standards and low life expectancy such as Africa, Latin America and developing Asia including the Middle East.
Asian Regionalism
- Asian economies have grown not only richer, but also closer together.
- New technological trends have further strengthened ties among them, as have the rise of the China and India and the region's growing weight in the global economy.
- The 1997/1998 financial crisis dealt a severe setback too much of the region, highlighting Asia's shared interests and common vulnerabilities and providing an impetus for regional cooperation.
- In the early stages of Asia's economic takeoff, regional integration proceeded slowly.
- East Asian economies focused on exporting to developed country markets.
- The Japanese economist Akamatsu (1962) famously compared this pattern of development to flying geese.
- In this model, economies moved in formation not because they were directly linked to each other, but because they followed similar paths.
- Now, Asian economies are becoming closely intertwined.
- Interdependence is deepening because Asia's economies have grown large and prosperous enough to become important to each other, and because their patterns of production increasingly depend on networks that span several Asian economies and involve wide ranging exchanges of parts and components among them.
Regionalization vs. Globalization
- Globalization promotes the integration of economics across state borders all around the world.
- Regionalization is dividing an area into smaller segments.
- Globalization allows many companies to trade on international level so it allows free market.
- In a regionalized system, monopolies are likely to develop.
- Globalization accelerate to multiculturalism by free and inexpensive movement of people.
- Regionalization does not support multiculturalism.
- A globalized international community is also more willing to come to the aid of a country stricken by a natural disaster.
- A regionalized system does not get involved in the affairs of other areas.
- Globalization has driven great advances in technology.
- Advanced technology is rarely available in one country or region.
Factors Leading to the Greater Integration of the Asian Regions
- Regional integration is a process in which neighboring states enter into an agreement in order to upgrade cooperation through common institutions and rules.
- The objectives of the agreement could range from economic to political to environmental, although it has typically taken the form of a political economy initiative
- Regional integration has been organized either via supranational institutional structures or through intergovernmental decision-making, or a combination of both.
- Regional integration have often focused on removing barriers to free trade in the region, increasing the free movement of people, labor, goods, and capital across national borders, reducing the possibility of regional armed conflict and adopting cohesive regional stances on policy issues, such as the environment, climate change and migration.
- Intra-regional trade refers to trade which focuses on economic exchange primarily between countries of the same region or economic zone.
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