Binalonan, Pangasinan

First Semester S.Y. 2024-2025

The Contemporary World

Final Output

Group 2

Sandralyn Ferrer

Jevin Galvan

Mintch Belmonte

Dianne De Vera

Christal Lyn Dela Cruz

Jessa Mae Dulay

Jamaica Gwen Fernandez

Kerdy Sapitola

Jhony Valenzuela

Hospitality Management - Block 2

 GLOBALIZATION

Many people talk about and misunderstand globalization and its processes.

Sometimes people just think about the processes and changes in the economy.

Global capitalism is on a global scale, much like globalization, but its activities

are largely economic. Both Americanization and global capitalism are one-way

processes. Globalization is a term used to describe how trade and technology

have made the world into a more connected and interdependent place.

Globalization also captures in its scope the economic and social changes that

have come about as a result. It may be pictured as the threads of an immense

spider web formed over millennia, with the number and reach of these threads

increasing over time. People, money, material goods, ideas, and even disease

and devastation have traveled these silken strands, and have done so in greater

numbers and with greater speed than ever in the present age.

Globalization describes the growing interdependence of the world’s

economies, cultures, and populations, brought about by cross-border trade in

goods and services, technology, and flows of investment, people, and

information. Countries have built economic partnerships to facilitate these

movements over many centuries. The term gained popularity after the Cold War

in the early 1990s, as these cooperative arrangements shaped modern everyday

life. Globalization expands business operations worldwide and is facilitated by

communications, technological advancements, and socioeconomic, political, and

environmental developments. It gives organizations a superior competitive

position and lower operating costs to increase products, services, and

consumers. Globalization means the world is becoming more connected because

of trade and technology. This connection has caused big changes in the

economy and society. People, things, and ideas move around the world faster

and more than ever before, including problems like diseases.

 The process through which corporations or other organizations gain

worldwide influence or begin functioning on a global scale is the official definition

of "globalization”. Globalization is the free exchange of knowledge, technology,

and products between nations and their citizens. The linkages between

commerce, geopolitics, technology, travel, culture, and the media contribute to

this accessibility. The majority of people don't perceive globalization at work

every single day since the globe is already so interconnected. However, the

world is becoming smaller, and businesses need to know what this means for

their future. Businesses that refuse globalization risk losing a competitive edge,

allowing other companies to seize untapped market possibilities.

Out of Giddens’ (1990) emphasis on modernity and Robertson's (1992) on

globality emerges the need to conceptualize globalization in relation to the

social per se. An exemplificatory conceptual case study points to global

processes straining older concepts formed for nation state

sociologies:deterrtorialization of the community concept results in the imagined

community; global culture signals the fragmentation of the culture concept;

‘milieu’ has to be extended and generalized for global relevance. Globalization

makes the structuration of new forms and types of groups and social

relationships a key conceptual problem for sociology. But its impact also

highlights the generative processes for new sociological concepts.

 ORIGINS AND HISTORY
The Silk Road, an ancient network of trade routes across China, Central

Asia, and the Mediterranean used between 50 B.C.E. and 250 C.E., is perhaps

the most well-known early example of exchanging ideas, products, and customs.

As with future globalizing booms, new technologies played a key role in the Silk

Road trade. Advances in metallurgy led to the creation of coins; advances in

transportation led to the building of roads connecting the major empires of the

day; and increased agricultural production meant more food could be trafficked

between locales. Along with Chinese silk, Roman glass, and Arabian spices,

ideas such as Buddhist beliefs and the secrets of paper-making also spread via

these tendrils of trade.

Unquestionably, these types of exchanges were accelerated in the Age of

Exploration, when European explorers seeking new sea routes to the spices and

silks of Asia bumped into the Americas instead. Again, technology played an

important role in the maritime trade routes that flourished between old and newly

discovered continents. New ship designs and the creation of the magnetic

compass were key to the explorers’ successes. Trade and idea exchange now

extended to a previously unconnected part of the world, where ships carrying

plants, animals, and Spanish silver between the Old World and the New also

carried Christian missionaries.

The web of globalization continued to spin out through the Age of Revolution,

when ideas about liberty, equality, and fraternity spread like fire from America to

France to Latin America and beyond. It rode the waves

of industrialization, colonization, and war through the eighteenth, nineteenth, and

twentieth centuries, powered by the invention of factories, railways, steamboats,

cars, and planes.

 With the Information Age, globalization went into overdrive. Advances in

computer and communications technology launched a new global era and

redefined what it meant to be “connected.” Modern communications satellites

meant the 1964 Summer Olympics in Tokyo could be watched in the United

States for the first time. The World Wide Web and the Internet allowed someone

in Germany to read about a breaking news story in Bolivia in real time. Someone

wishing to travel from Boston, Massachusetts, to London, England, could do so

in hours rather than the week or more it would have taken a hundred years ago.

This digital revolution massively impacted economies across the world as well:

they became more information-based and more interdependent. In the modern

era, economic success or failure at one focal point of the global web can be felt

in every major world economy

 MARKET INTEGRATION

Market integration provides a number of social benefits, including broadening

the range of financial services and investment opportunities available to

consumers and increasing competition in the provision of those services. In

addition, integrated financial markets act as private risk-sharing mechanisms that

facilitate the smoothing of both economic and financial cycles in domestic

economies. Moreover, market integration enables greater risk diversification,

thereby contributing to more effective risk management and to financial stability.

Regulation certainly plays a highly relevant role in facilitating market

integration. In particular, the homogeneity of financial regulation across

jurisdictions and the consistency of the requirements imposed on internationally

active entities may provide powerful incentives for cross-border financial activities

and operations. By the same token, heterogeneous rules or any type of

regulatory discrimination against foreign players in domestic markets tend to

inhibit the internationalization of financial activity.

The past two centuries have witnessed a dramatic change in the ability to

trade goods—and even services—across and within national borders. Container

megaships have replaced steamships, which replaced sailboats. Trucks on

divided-lane expressways have replaced railroads, which replaced ox carts. E-

mails have replaced telegrams, which replaced carrier pigeons. And now,

unthinkably, in some locations the US Postal Service will even deliver packages

on Sundays. Equally, waves of post–World War II multilateral and preferential

trade agreements have eroded many of the tariff barriers that apply when trades

cross international borders.

Global financial forces and the process by which the international institutions

have evolved and their present contributions to global financial issues in the 21st

century. The paper highlights the key principles that are necessary for further
global financial market integration and the process of globalization. The paper

argues that a holistic approach is needed in order to ensure that the process of

globalization leads to international financial stability and global security. The

paper also highlights the dynamic effects of a global system including the way

multinational corporations can increase their investment and business activities

with greater international capability in their contribution to the process of financial

market integration.

Global markets appear to be becoming more interconnected, but there isn't a

widely recognized indicator of this. Demonstrate that market-to-market

correlation is a poor indicator, as even highly linked markets may show minimal

connection. Based on a multi-factor model's explanatory capability, develop a

new integration metric and apply it empirically to examine current global

integration trends.
 ASIAN REGIONALIZATION

Regionalization is defined as an increase in the cross-border flow of capital,

goods, and people within a specific geographical area. It develops from the

bottom up through societally driven processes coming from markets, private

trade, and investment flows, none of which is strictly controlled by governments.

The core players are non-governmental actors—firms or individuals.

Regionalization can be called a spontaneous, bottom-up process. In contrast,

regionalism is defined as a political will (hence ism is attached as a suffix) to

create a formal arrangement among states on a geographically restricted basis.

Since its main participants are governments, it can be expressed as an artificial,

top-down process. The “development of regionalization” means an increase in

the number of regional economic transactions such as money, trade, and foreign

direct investment (FDI). “Regionalism in progress” refers to the agreement of

regionally close governments to establish kinds of formal institutions such as the

Asia Pacific Economic Cooperation (APEC), the East Asia Summit, or bilateral

preferential trade agreements (PTAs) in order to cooperate with each other on

various issues.

Asian regionalization, a complex process of economic and political

integration in the region, has witnessed significant growth in recent decades. This

research examines the dynamics of Asian regionalization, analyzing its

economic, political, and geopolitical implications. It argues that while economic

integration through initiatives like the Regional Comprehensive Economic

Partnership (RCEP) has fostered growth and prosperity, it has also created

tensions between competing regional powers, particularly between China and the

United States.

All high-performing economies in Asia have thus built up a market-led, profit-

centered regionalization underpinned by refined trade and foreign direct

investment liberalization regime. In Asia, vertical as much as horizontal market

enlarge and regional integration. The NIAEs the first emerging-market economies

establishing levels of intricate industrial and trade hierarchies in Asia. This was at

the time when significant intraregional investment flows into China and Southeast

Asia escalated. The last two-and-a-half decades have seen Japan, Taiwan and

Korea reinforce their commitments in these markets through provision of great

amounts of foreign direct investment (FDI) to China and Southeast Asian

[Link] 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.

Regionalization of higher education in Asia is a multidisciplinary project that

complements the ongoing Association of Southeast Asian Nations–centered

regionalism that is prevalent in the Asian region. It is part of the ongoing global

regionalism and regionalization of higher education projects and is significantly

influenced by European higher education developments, especially the Bologna

Process and the establishment of the European Higher Education Area. It is

anchored on the discourse of higher education for sustainable economic, social,

and cultural development and on regional integration projects, and it is built on

existing (and changing) Asian regional frameworks.

Regionalization of higher education in Asia is a complex project given its

multiple stakeholders, frameworks, and power asymmetries within the region and

the various regional and international organizations that influence global and

regional higher education developments not limited to Asia. This complexity is

further enhanced by the diversity of cultures, religion, socioeconomic

development, politics, colonial heritage, and the systems and development of

Asian higher education.

GLOCALIZATION

The best product the Philippines have that can be offered internationally ,

since this product can easily adopt and adjust to local preferences of people with

different cultures and taste is the Ube. Dioscorea alata is the scientific name of

the Ube (pronounced as OO-BHE). It is greyish-brown skins rooted crop. It is

planted from months of May to December and its texture becomes soft when

cooked. Ube has different variety like powder. Forms and uses of Ube at post-

harvest stage can be powder for food coloring of popular, delicious, and wide

variety of desserts. Ube is a great source of potassium and vitamin C. It is also

rich in antioxidants including anthocyanins which give them their vibrant hue and

may help reduce blood pressure and blood sugar levels. The Philippines’ purple

yam or Ube is already being accepted as the next big hit for the overseas market

as referred by a local trade department. It is being distributed in the form of

desserts in few restaurants in the US. And according a famous malefashion

magazine, patrons have to wait for weeks just to buy and taste of the Ube-

flavored doughnut. This violet-themed yam is a natural-marketing itself because

as the customers are dipping or slicing through the dessert, they are fascinated

with the uncanny color within.

Purple yam (Dioscorea alata) is commercially grown in the Philippines and is

the only supplier in the world market. Thus, the crop is considered one of the

important export banner crops. The natural purple anthocyanin pigment makes it

excellent as healthful antioxidants. The domestic and export yam products

include yam powder, ube-flavored ice cream, dried chips/flakes and peels, puree,

yam paste, jam. preserve, candies, breads, cookies, and many other industrial

products.

Nutritionally, ube surpasses regular yams in antioxidant content. According to

a study by Kansas University, ube helps prevent DNA damage, cardiovascular

diseases, and certain cancers. Rich in Vitamins A, C, and E and high in

potassium, ube also promotes probiotic bacteria growth due to its high fibre

content. Its deep purple colour indicates a wealth of anthocyanins, which are

known to help reverse cognitive and motor function decline. As ube gains

international popularity, Filipinos are proudly sharing their culinary heritage. With

Filipino cuisine increasingly recognized globally, ube’s purple hue is enchanting

adventurous eaters worldwide.

Ube has also found its way into cafés and coffee shops with Ube lattes made

with Ube syrup or powder offering a pop of color and flavor to morning brews.

Monin’s 2024 flavor of the year is Ube and the gourmet syrup company

developed an Ube Syrup that “blends the yam’s sweet and earthy taste with

additional notes of fig, vanilla and cinnamon for a unique, globally-inspired

tapestry of flavors.”

Restaurants are also incorporating Ube into the menu with options like Ube

fries, Ube gnocchi or Ube-infused sauces. Chismosa Café and Long Beach,
Calif., will host an Ube Fest in May, calling it “Ubechella.” San Francisco also

hosts an annual Ube Festival featuring 20 vendors offering ube-infused creations

to celebrate the purple yam.

TAKEAWAYS

Sandralyn: The realization and learning I had from this subject is that as years

go by, our technologies evolves more due to globalization. These technologies

made our life easier and better. Through globalization, we were able to connect

with other people worldwide regardless of our culture, beliefs, and races. I

learned that there are a lot of benefits of globalization especially when there are

crisis like the COVID-19 pandemic. Also, due to globalization, it reduces cultural

barriers because we have understood, respected, and adapted diverse cultures.

Jevin: What I learned in this subject is about how our world interconnected

through technology, culture, and communication. I learned also about the

importance of globalization because globalization has change the way we live.

Many nations and countries has developed, although it has a negative impact or

challenges such as inequality and environmental concerns, I realized that

globalization has not only have an positive impact but also there’s a negative.

Mintch: The discussions on globalization will save phenomenally complex and

multidimensional understandings of the world and heal some wounds it much in a

live. Globalization asks us to think about how are connected in life, the problems

and opportunities at global level, and the possibilities for responsible, ethical

actions in a globalized world.

Dianne: The realization I learned from this subject in the contemporary world is

that the interconnectedness of nations profoundly impacts the global system and
local economies, as well as environmental issues, cultures, and politics. It taught

me how to value the importance of diversity and addressing global issues,

especially climate change.

Christal: Global knowledge and comprehension will aid in this train by enhancing

an appreciation to shared humanity. It highlights the challenges in achieving it

and clarifies the need of shared accountability in global concerns. This combine

respecting regional boundaries with valuing global solidarity.

Jessa: The realization and learning I had from this subject is that studying the

contemporary world taught me how to be knowledgeable and aware of our world.

The more I cooperate with the course the more I realize that although

globalization main goal is global relationships and we can explore more about the

contemporary world and globalization. Also, I learned that in globalization you

can interact with other businesses and people changes the way of nation and it

gives me courage to learn more about this subject.

Jamaica: I learned about the topic of the contemporary world especially how

globalization has helped me appreciate how integrated the world has become.

Globalization has thus created the movement of product, services, knowledge

and even population across the borders altering the structure of economies,

societies and politics.

Kerdy: The realization and learning I had from this subject is how globalization

has affected various countries and how world has become more interconnected.

It also emphasizes how globalization has led to the emergence and development

of countries, making this topic rather interesting to anyone inquiring into how

traditions get adapted to a globalized society and what that future holds for

generations to come.
Jhony: The realization and learning I had from this subject is the benefits of

modernization of technologies through globalization. With the help of

globalization, many countries have developed. Also, I learned about the benefits

of market integration where the trade barriers were lessen making it more easy

for other countries to import and export products.

REFERENCES

Dilip K. Das (2005). Market-Driven Regionalization in Asia. Global Economy

Journal 5 (3), 1850044

Dave Donaldson (May 13, 2015). The Gains from Market Integration

Fariborz Moshirian (2003). Journal of Multinational Financial Management 13 (4-

5), 289-302

Fernando Restoy (2019). Market Integration: The Role of Regulation

Hiroyuki Hoshiro (March 2023). Regionalization and Regionalism in East Asia.

ISS Discussion Paper Series F-162

Jan Sherwin Wenceslao (February 2024). Colour the World Purple: The Global
Journey of Ube, the Philippines’ Beloved Purple Yam

Keri E Iyall Smith (2018). Sociology of Globalization, 3-10

Martin Albrow, John Eade, Neil Washbourne & Jorg Durrschmidt (24 Jan 2012).
The impact of globalization on sociological concepts: Community, culture and
milieu pages 371-389

Roger Y. Chao Jr. (2023). Regionalization of Higher Education in Asia

Salda, V.B. (Benguet State Univ., La Trinidad, Benguet (Philippines)) | Yoon,

J.W., Baldazan, B.C., Gibson, N., Sagalla, E.J.D., Lacaden, M.B. (2005). Yam
Production, Processing, and Marketing for the Luzon [Philippines] Poverty Zones.
Philippine Journal of Crop Science (Philippines) 30 (1)

Van Tiu Q (May 2021) The Future Is Now: Promoting and Selling the Philippines’
Ube in the World Market. International Journal of Progressive Research in
Science And Engineering, Vol.2, No.5

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