Modern World System
In the case of the Philippines, how much do you think are involved in the modern world system? What do you think are the advantages and disadvantages of being a part of such?
-
Let's discuss first what is being asked as the Modern World System.
Established by Immanuel Wallerstein
This was an attempt to explain and correct the inadequacies of global systems in a global scale.
Three Assumptions of the Modern World System:
The Social System: consists of cultural, political and economical
The World Economy: assumes that the world is divided into three main zones (Core, Semi-Periphery and Periphery)
The Interpretaion: understood in state-strength ans cultural integration.
Having stated the assumptions of the Modern-World System we can now place our opinion in case of the Philippines.
The Philippines is placed in the periphery of the World Economy. With regards to "how much is involved?" as asked in the question as per looking at the assumptions the Philippines is greatly involved in the Modern World System, in fact all countries are. We are being analyzed as a Third World Country because of this assumption. Our economical ranking all over the word is classified as in the edges or in the tail given that we don't have a strong economy to begin with.
Advantages and Disadvantages
Advantages:
The advantages of being in the Periphery are as follows:
We being workers from a country that belongs to the periphery of World Economy can provide cheap labor of work force, That is why a lot of work are provided to us from first world countires or those belonging from the Core like from US, UK, Canada etc.
We easily are provided aids whenever there are economic turmoils.
Materials provided by us are cheaper as copared from countries from the semi- periphery or the core. Due to this cheaper raw materials means more profit for manufacturers or Business owners from core countries.
Disadvantages:
The disadvantages of being in the
