Diffun Campus: "Molding Minds, Shaping Future"
Diffun Campus: "Molding Minds, Shaping Future"
Diffun Campus: "Molding Minds, Shaping Future"
International Trade
The conclusion of World War ll signaled the beginning of trade
facilitation around the globe. Economies set rules and guidelines for
international trade which led to the formation of General Agreement
on Tariffs and Trade (GATT). These trade rules were developed
through series of rounds or meetings of member ‘economies
Trade Theories
There are two types of trade theories explaining international trade.
1. Descriptive Theory. It deals with the natural order and movement
of trade. It describes the pattern of trade under the idea of
laissez faire, a French term which means "leave alone". It refers
to the notion that individuals are the best economic agents to solve
the problems through invisible hand rather than the government
‘policies. Descriptive theory addresses the questions of which
product to trade, how much product to offer and produce, and
which country to trade in the absence of government restrictions.
2. Prescriptive Theory. This prescribes whether government, an
important economic institution, should interfere and restrict
with the movement of goods and services. This theory views
government to have participation in deciding which countries
VISION MISSION
The leading center for academic and technological excellence Develop competent and morally upright professionals and generate
and prime catalyst for a progressive and sustainable Quirino appropriate knowledge and technologies to meet the needs of Quirino
Province and Southern Cagayan Valley. Province and Southern Cagayan Valley.
Economic Liberals
David Ricardo and Adam Smith were known critics of late-eighteenth
century on the abuses of mercantilism in England. Their liberal ideas and
contribution in understanding global trade are still relevant until today.
For Ricardo, his influential work Law of Comparative Advantage explains
that free trade efficiency is attainable if two countries can produce
more goods and trade products separately. The advantage of this
theory in international trade is deriving from the principle of
specialization and division of labor (Nau, 2009). Countries have different
resources and talents; they are better in performing in that economic
activity than other economic activities
Mercantilism
An economic theory emerged from about 1500-1800. This period was
the emerging eras of nations-states and the formation of more central
governments. This system flourished due to the following reasons:
1. Higher export than import.
2. Export less high valued product and import less high valued
product
3. The benefits of colonial powers.
Structuralists
The earliest wave of mercantilism was described as classical imperialism.
The drive of European countries to explore and colonize
underdeveloped countries originated from the aggressive mercantilist
behavior of European economies. This idea was extended to the practice of
modern capitalist-imperialist approach by countries and economies
that have the immense resource through the use of hard power over
developing and less developed countries.
Enrichment ESSAY TYPE. Answer the question with the best that you can. Write in ½
Activities sheet of paper
1. Choose a specific foreign product/brand that is being sold in the
Philippines.
2. List down the main ingredients or raw materials in manufacturing the
chosen product. Identify the corresponding country from which each
ingredient or raw material came from.
3. Identify the countries involved in the manufacturing of the chosen
product. Indicate the corresponding service the country does for the
product (e.g., Costa Rica planting of coffee beans).
4. Aside from the Philippines, list other countries where the product is
being sold. Cite the kinds of technology that made the creation of the
product possible. Consider communications and transportation
References Balaam, D and Vesseth, M. (2008), Introduction to International Political
Economy, 4thed. PearsonPrentice Hall, Pearson Education, Inc.
De Ocampo, F., Ramos, B., Llomora, R.,Macaraeg, A., David, M.A. (2018),
Introduction to ContemporaryWorld. St. Andrew Publishing House.
Claudio, L., Abinales, P. (2018), The Contemporary World. C & E
VISION MISSION
The leading center for academic and technological excellence Develop competent and morally upright professionals and generate
and prime catalyst for a progressive and sustainable Quirino appropriate knowledge and technologies to meet the needs of Quirino
Province and Southern Cagayan Valley. Province and Southern Cagayan Valley.
Publishing, Inc.,
Shangquan, G. (2000). Economic Globalization:Trends, risks and risk
prevention.CPD background paper no.1. United Nations Development
Policy and Analysis Division.
Nau, H. (2009). Perspectives on International Relations: Power,
Institutions, and Ideas. 2ndedition.Washington DC: CQ Press Sage
Publishing. 2009
The General Agreement on Tariffs and Trade (GATT) and the World
Trade Organization (WTO)
According to Feet (2003), global trade and finance was greatly
affected by the Bretton Woods system. One of the systems born out of
Bretton Woods was the General Agreement on Tariffs and Trade (GATT)
that was established in 1947 [Goldstein et al., 2007). GATT was a forum
for the meeting of representatives from 23 member countries. It focused on
trade goods through multinational trade agreements conducted in many
rounds of negotiation. However, “it was out of the Uruguay Round
(1986-1993) that an agreement was reached to create the World
Trade Organization (WTO)” (Ritzer, 2015).
VISION MISSION
The leading center for academic and technological excellence Develop competent and morally upright professionals and generate
and prime catalyst for a progressive and sustainable Quirino appropriate knowledge and technologies to meet the needs of Quirino
Province and Southern Cagayan Valley. Province and Southern Cagayan Valley.
VISION MISSION
The leading center for academic and technological excellence Develop competent and morally upright professionals and generate
and prime catalyst for a progressive and sustainable Quirino appropriate knowledge and technologies to meet the needs of Quirino
Province and Southern Cagayan Valley. Province and Southern Cagayan Valley.
1989 with only Canada and the United States as trading partners. NAFTA
helps in developing and expanding world trade by broadening international
cooperation. It also aims to increase Cooperation for improving
working conditions in North America by reducing barriers to trade as it
expands the markets of the three countries.
Enrichment Go for a virtual Tour!
Activities Go to the web and accomplish these tasks:
b. Research the origin and history of the institution you have chosen;
VISION MISSION
The leading center for academic and technological excellence Develop competent and morally upright professionals and generate
and prime catalyst for a progressive and sustainable Quirino appropriate knowledge and technologies to meet the needs of Quirino
Province and Southern Cagayan Valley. Province and Southern Cagayan Valley.
VISION MISSION
The leading center for academic and technological excellence Develop competent and morally upright professionals and generate
and prime catalyst for a progressive and sustainable Quirino appropriate knowledge and technologies to meet the needs of Quirino
Province and Southern Cagayan Valley. Province and Southern Cagayan Valley.
References Aldama, P. (2018). The Contemporary World. Rex Book Store, Inc.
Brazalote, T., Leonardo, R. (2018) The Contemporary World.C & E
Publishing, Inc., ©2019
Claudio, L., Abinales, P. (2018), The Contemporary World. C & E
Publishing, Inc. Goldstein, J.L., RiversUnited Nations. (2011). Basic
facts about the United Nations. New York, USA:
United Nations Department of Public Information. Retrieved
fromhttp://munkiconference.weebly.com/uploads/1/5/4/2/15422056/b
asic-facts-about-the-un.pdfon May 13, 2020
VISION MISSION
The leading center for academic and technological excellence Develop competent and morally upright professionals and generate
and prime catalyst for a progressive and sustainable Quirino appropriate knowledge and technologies to meet the needs of Quirino
Province and Southern Cagayan Valley. Province and Southern Cagayan Valley.
Weiss and Thakur (2014), in their article titles, The United Nations
Meets the Twenty-first Century: Confronting the Challenges of Global
Governance, identify challenges confronting UN based on knowledge, norms,
policy, institutions and compliance:
VISION MISSION
The leading center for academic and technological excellence Develop competent and morally upright professionals and generate
and prime catalyst for a progressive and sustainable Quirino appropriate knowledge and technologies to meet the needs of Quirino
Province and Southern Cagayan Valley. Province and Southern Cagayan Valley.
_______1. This organ of the United Nations has the commitment to preserve
peace and security.
_______2. Is the organ tasked to execute the daily activities as assigned by
the other organs.
_______3. It is the UN’s prime judicial organ
_______4. This is the central deliberative and the only organ where all
member-states have equal representation in discussion and consideration,
and policymaking
_______5. It is the organ tasked to administer international oversight for 11
trust territories and to make sure that adequate procedures are taken for
independence and self-government.
References Brazalote, T., Leonardo, R.(2018) The Contemporary WorldOutcome
Based Module. C & E Publishing, Inc.,2019
Weiss, T., Thakur, R. (2014) The United Nations Meets the Twenty-First
Century: Confronting the Challenges of Global Governance.The SAGE
Handbook of Globalization
VISION MISSION
The leading center for academic and technological excellence Develop competent and morally upright professionals and generate
and prime catalyst for a progressive and sustainable Quirino appropriate knowledge and technologies to meet the needs of Quirino
Province and Southern Cagayan Valley. Province and Southern Cagayan Valley.
With the end of the cold war, the term second world was not used
anymore.
Cold War is the term used to describe the rivalry between the United
States and theSoviet Union and their respective allies after World War II.
The Cold war centered on major political and economic propaganda and
not necessarily on recourse to weapons. It was George Owell, an English
writer who first used this term in 1945 to refer to what he predicted would
be a nuclear stalemate between “two or three monstrous super-states,
each possessed of a weapon by which millions of people can be
wiped out in a few seconds.” (Britannica Encyclopedia)
VISION MISSION
The leading center for academic and technological excellence Develop competent and morally upright professionals and generate
and prime catalyst for a progressive and sustainable Quirino appropriate knowledge and technologies to meet the needs of Quirino
Province and Southern Cagayan Valley. Province and Southern Cagayan Valley.
Modernization theory
The development of wealthy nations is attributed to the “correct” beliefs,
values, and practices of its people. These cultural traits include a
willingness to work hard, to abandon tradition in favor of new ways of
thinking and doing things, and to adopt a future orientation rather than
one focused on maintaining present conditions (Barkens, 2011). Such
thought has been introduced by McClelland (1961) who believed
that the value attached to and the motivation for achievement are
important in understanding why societies have achieved development.
For him child rearing practices and early socialization of individuals
have impact on the cultural traits of a society. Barkens (2011) further
explained that the theory has similarities with the culture of poverty
theory which states that countries have remained poor because they have
failed to develop attitudes, values beliefs which are essential to
economic success since the beginning of industrialization in the
19thcentury to present times.
Dependency Theory
Dependency theory explains underdevelopment of poor nations in relation
to their dependency on rich countries. Prebish(as cited by Ferrero,
2008) is an Argentine economist who observed that economic growth in
the developed countries did not result ingrowth in the poorer country but
led to serious economic problems of poor nations.The conditions of poor
nations are attributed to the colonization of developed and rich
countries which exploited the resources of these countries and used
them for cheap labor. These “colonizers” after exploiting the resources
will sell their products to their “colonized” countries. Further, rich and
powerful countries compel their colonized nations to borrow enormous
debt from them which are still being paid up to present times. The
exploitation of wealthy nations hindered poor countries to develop on their
own
VISION MISSION
The leading center for academic and technological excellence Develop competent and morally upright professionals and generate
and prime catalyst for a progressive and sustainable Quirino appropriate knowledge and technologies to meet the needs of Quirino
Province and Southern Cagayan Valley. Province and Southern Cagayan Valley.
Reflection
Watch the video, “Would you eat recycled landfill meat?” -BBC News:
https://www.youtube.com/watch?v=c7gDBVmgIRA&t=72s to have a
glimpse on the situation of poverty in the Philippines. Make ashort
reaction/reflection paper about the video clip and discuss your thoughts
on how can the country mitigate poverty
References Barkan, Steven E., "Sociology, Understanding and Changing the Social
World" (2011).Faculty and Staff Monograph Publications
Ferraro, Vincent, "Dependency Theory: An Introduction," in The
Development Economics Reader, ed. Giorgio Secondi (London: Routledge,
2008), pp. 58-64
McClelland, David C. (1961). The Achieving Society. University of
California: Van Nostrond
Module 8 Asian Regionalism
Competencie 1. differentiate between regionalization and globalization:
s 2. identify the factors that lead to a greater integration of Asian
regions; and
3. analyze how different Asian states confront the
challenges of globalization, regionalization, and COVID-19
Discussion Direction: Find the key ideas and details in the following excerpts
VISION MISSION
The leading center for academic and technological excellence Develop competent and morally upright professionals and generate
and prime catalyst for a progressive and sustainable Quirino appropriate knowledge and technologies to meet the needs of Quirino
Province and Southern Cagayan Valley. Province and Southern Cagayan Valley.
Official regional associations now cover vast swaths of the world. The
population of the countries that joined the Asia Pacific Economic Council
(APEC) alone comprised 37 percent of the world’s population in 2007.
These countries are also part of the “smaller” organizations that include
the Association of Southeast Asian Nations, the Shanghai Cooperation
Organization, the North American Free Trade Agreement, the Caribbean
and Pacific Group of States, and the Union of South American Nations.
Even “isolationist” North Korea is part of the Regional Forum, which
discusses security issues in the region. (Lisandro E. Claudio and Patricio
N. Abinales)
ASEAN has also partnered with three EAST Asian countries –China,
Japan, and South Korea. It is called the ASEAN + 3. Its goal is to address
the 1997 Asian financial crisis and help each other cope with the crisis.
In this context, ASEAN has concretized regionalism in the Asian region
VISION MISSION
The leading center for academic and technological excellence Develop competent and morally upright professionals and generate
and prime catalyst for a progressive and sustainable Quirino appropriate knowledge and technologies to meet the needs of Quirino
Province and Southern Cagayan Valley. Province and Southern Cagayan Valley.
There are some aspects that led to a greater Asian integration. First,
integration has been market-driven. Within Asia, there are a variety
of systems, institutions, procedures, social relations, and
infrastructures that are put in place for countries to engage in exchange.
Second, formal institutions such as the Asian Development Bank (ADB)
were established. Conceived in the 1960a, ADB promotes social and
economic development in Asia. Third, economic grants and overseas
development assistance are made available by better Asian economies.
For example, the Japanese International Cooperation Agency (JICA)
aims to work on human security and quality growth. Fourth,
production networks have expanded. Economies are mainly on
comparative advantage through the regional division of labor. Fifth,
cooperation among the ASEAN and East Asian countries ensued the
ASEAN + 3 Financial Ministers’ Process that established two
economic structures –the Chiang Mai Initiative and the Asian Bond
Markets Initiative. The process aims to strengthen policy dialogue,
coordination, and collaboration on common financial, monetary, and
fiscal issues. (Tumoroh C. Brazalote, Ryan M. Leonardo, and Bernardino
C. Ofalia)
Enrichment Essay. Answer the question with the best that you can
Activities
1. Identify the strengths of the Philippines that may contribute
to a sustainable ASEAN integration in meeting the COVID-19
challenge.
2. Differentiate regionalization from globalization.
References Tumoroh C. Brazalote, Ryan M. Leonardo, and Bernardino C. Ofalia.
2019. The Contemporary World Outcome-Based Module.
Lisandro E. Claudio and Patricio N. Abinales. 2018. The Contemporary
World. C & E Publishing, Inc. Quezon City Philippines.
Module in
VISION MISSION
The leading center for academic and technological excellence Develop competent and morally upright professionals and generate
and prime catalyst for a progressive and sustainable Quirino appropriate knowledge and technologies to meet the needs of Quirino
Province and Southern Cagayan Valley. Province and Southern Cagayan Valley.
AY 2023-2024
Prepared by:
Anabelle B. Cabbab
VISION MISSION
The leading center for academic and technological excellence Develop competent and morally upright professionals and generate
and prime catalyst for a progressive and sustainable Quirino appropriate knowledge and technologies to meet the needs of Quirino
Province and Southern Cagayan Valley. Province and Southern Cagayan Valley.