Metacognitive Reading Report # 1

Name: Balane, Allyza Marie E. Date: November 9, 2019

The Contemporary World

GENERAL INSTRUCTIONS
      
BEFORE DO NOT
COMPLETING THIS REVIEW PLAGIARIZE!
ASSESSMENT, RESPOND TO PLEASE MAKE YOUR
ANSWER
PLEASE READ ALL FOLLOW THE THE YOUR WORK PLAGIARISM IS
IN ESSAY
OF THE INSTRUCTIONS. REQUIREMENTS HANDWRITING BEFORE A MAJOR
FORM.
INSTRUCTIONS OF THE TASK. LEGIBLE. SUBMITTING OFFENSE THAT
THOROUGHLY IT. LEADS TO
AND CAREFULLY. EXPULSION.

Globalization and Challenges; What are the globalization’s contemporary issues?

Title of the Article

Integration Processes In The Global Economy: Current State and Prospects. The Cases
Of The European Union, ASEAN Economic Community, And NAFTA
Title of the Article

1. Difficult Concepts (What concepts did you find difficult to understand?)

i. The concept of integration process in the global economy was quite hard to
understand because the countries involved should fulfill some pre-conditions
before they can join.
ii. Globalization in the economy because although they say that the what they
offer is for the good of all. It actually takes advantage of the cheap labor of
the third world countries.
iii. The NAFTA because although they practice free trade areas, the amount of
development between the three member states are asymmetrical.

2. Insights (What new insights or learning did you gain in discussion/ activity?)

i. Before reading the article/understanding the lesson, I thought that

globalization only pertains to culture and media. However, reading the
article/understanding the lesson, I now think/realize that globalization is
applied to various fields. It covers the scope of political, economic, and
cultural trends.

ii. Before reading the article/understanding the lesson, I thought that the EU
and the ASEAN Economic Community functions the same. However, reading
the article/understanding the lesson, I now think/realize that these two
belong to different integration groupings. EU implements the
economic/monetary union while the ASEAN Economic Community practices
common market.

iii. Before reading the article/understanding the lesson, I thought that

globalization offers a win-win situation for all because they are going to bring
more job and market opportunities. However, reading the
article/understanding the lesson, I now think/realize that it will only be
beneficial to the rich investors (i.e. U.S.A.) and will only cause harm to the
poor countries who has lots of laborers that offer their service for a small price
(i.e. India).

iv. Before reading the article/understanding the lesson, I thought that ASEAN
Economic Community only includes countries in Asia. However, reading the
article/understanding the lesson, I now think/realize it is not only limited to this
region because it also includes the countries Canada and USA.

3. Questions (What questions would you want answers for? Or vague areas you
want more explanations about?
i. Is globalization controlled by the powerful countries?
ii. Is there a way globalization would work for the benefit of the poor
countries?
iii. Are there countries not involved in any integration groupings? How do
they fare?