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7 Cards in this Set
- Front
- Back
- 3rd side (hint)
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What are the characteristics of globalization? |
1. Socioeconomic reform process 2. The elimination of barriers to trade, investment, information technology, culture and politics that separates countries 3. Growing integration and interdependence among nations 4. Free international trade and investments 5. Free flow of good, services, cultures and belief systems between countries |
5 |
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How do major international institutions facilitate globalization? |
The International Monetary Fund: 1. Provides a forum for cooperation on international monetary problems 2. Facilitates sustainable growth of international trade, thus promoting job creation, economic growth, and poverty reduction 3. Promotes exchange rate stability and an open system of international payments 4. Lends country's foreign exchange when needed
The World Bank: 1. Focuses on trade expansion 2. Provides an analytical an advisory role by supporting national policies to strengthen free market institutions and infrastructure 3. Supports international standards especially in financial systems that are a necessary foundation in a global economy4. Transfers knowledge and information technology to developing countries5. Focuses on eradicating communicable diseases without neglecting the importance of cultural heritage 4. Transfers knowledge and information technology to developing countries 5. Focuses on eradicating communicable diseases without neglecting the importance of cultural heritage
The World Trade Organization: 1. Administers trade agreements 2. Acts as a forum for trade negotiations 3. Settles trade disputes 4. Reviews national trade policies 5. Assists developing countries with trade policy issues through technical assistance and training programs 6. Cooperates with other international organizations like the IMF and World Bank |
4, 5, 6 |
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Why is it important for political leaders and institutions to be transparent in responding to global competition? |
It is important for political leaders and institutions to be transparent to convince their constituents that while globalization does create "winners" and "losers", appropriate policies will be in place to retrain and uplift the downtrodden. Otherwise, social unrest will rise, leading to political instability and ineffective and inconsistent economic policies. This, in turn, will wreak havoc on markets and the benefits of globalization will be stalled. |
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What are key policy measures that make globalization sustainable? |
1. Good governance 2. Competitive markets 3. Property rights 4. Anticorruption policies |
4 |
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What are ways that technology bridges the global digital divide? |
The rapid and progressive fall in prices of digital IT equipment and services has increased access and accelerated globalization, thereby narrowing the digital gap |
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What is the rationale of specific anti-globalization arguments? |
That globalization causes disruptive economic changes, including job losses, stagnant wages, the loss of local control over economic policies and development, the disappearance of old industries, and their related erosion of communities |
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What are the reasons for supporting individuals negatively affected by globalization? |
So that the benefits of globalization are widely shared and costs are kept to a minimum |
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