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?

 

A modern world-system is basically a capitalist world economy.

The world economy assumes that the world is divided into three main parts which include the core, periphery and semi-periphery.

Philippines is placed in the periphery of the World Economy.

Philippine is not greatly involved in the Modern World System. 

Step-by-step explanation

A modern world-system is basically a capitalist world economy. In this case, capitalism refers to the continuous accumulation of capital. Generally, the world economy assumes that the world is divided into three main parts which include the core, periphery and semi-periphery. The core countries are those responsible for most of the capital intensive production rates. The periphery countries mainly focuses on labor intensive and low skilled production. These countries usually lack innovation, and are mostly corrupt. In addition to that, their economy is very slow. The semi-periphery countries exhibits both the characteristics core and periphery countries. Philippines itself is placed in the periphery of the World Economy. The country mainly depends on other countries for its own development and has not yet sustained proper economic stability in order to sustain proper development in all sectors of its economy. Therefore, it can be concluded that Philippine is not greatly involved in the Modern World System. Although technology has reached Philippines, it has not fully been implemented. The government has already adopted the digital as well as online systems but unfortunately the procedures are still based on analog systems.

One of the advantages of being part of this system is that, it shows the country's progress as a whole. Again, the core countries are always willing to help the country arise to higher levels in the economy for the development the country and for the international economy. The disadvantage is that it highlights country's failures and hence, decreases the reputation as a whole. Another disadvantage is that the country is more likely to be manipulated by other countries with higher powers. Finally, because of being too dependent, the country may end up accepting manipulative deals.