IN THE CASE OF PHILIPPINES, HOW MUCH DO YOU THINK ARE WE INVOLVED IN THE MODERN WORLD-SYSTEM? WHAT DO YOU THINK ARE THE ADVANTAGES AND DISADVANTAGES OF BEING PART OF SUCH?

 

  The geohistorical system in which we live is the modern world – system, which is a capitalist world-economy. There are three economic zones in the Modern World-System: core, periphery, and semi-periphery.

   These three economic zones share the same style of production and division of labor, but their availability is different. Whereas core nations have capital-intensive production with high waged labor and low labor exploitation and coercion, periphery countries have labor-intensive production with low waged labor and high labor exploitation and coercion in their low-technology industry. Semi-periphery countries occupy a middle ground, combining core and peripheral activities.

 Countries tend to fall into one of three interconnected zones in the current world system: core countries, semi-periphery countries, and periphery countries.

   In the case of our country, the Philippines is placed in periphery of the world economy. Thus, we can say that the Philippines is heavily involved in the modern world – system, actually all countries are. Among other countries, we are classified as a third-world country. According to reports, issues such as corruption, unemployment, crime, and poverty are preventing one country from joining the developed world. Given that we don’t have a robust economy to begin with, our economic ranking throughout the world is labeled as fringe or tail.

 Now, this blog will discuss the advantages and disadvantages of being part in periphery of the modern world-system.

ADVANTAGES OF BEING PART IN PERIPHERY

* We were quick to offer assistance if there was a financial crisis compared to the semi- periphery and core countries.

* Our materials are less expensive than those from other countries on the semi - periphery or in the core. As a result of the lower cost of raw resources, manufacturers and company owners in core countries profit more.

* As a workers from a country on the periphery of the global economy, we are able to provide low-cost labor.

* We receive a lot of work since we have low – cost labor from first-world countries or those from the core, such as the United States, the United Kingdom, Canada, and others.

DISADVANTAGES OF BEING PART IN PERIPHERY

* An increase in criminal activity as a result of people’s inability to find suitable employment.

* The economy’s budget is being dragged down to aid the less fortunate.

* Not all people can have work. Only the fortunate one that were able to attend high school, college, and become professionally licensed.

* Because the literacy rate is so low, not everyone can find a job that pays well.

* Received small share of global wealth

  Hope that this blog gives you more insights about the case of our country in terms of modern world-system as well as the advantages and disadvantages of being part in the periphery or the countries that are under develop and still improving. Thank you for reading.