AEC 35 CHAPTER 1.pdf - CHAPTER 1 THE RISE OF GLOBALIZATION...

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CHAPTER 1 THE RISE OF GLOBALIZATION 1. What is Globalization? - socioeconomic reform process of eliminating trade, investment, information technology, and cultural and political barriers across countries 2. What are the effects of Globalization? - increased economic growth - geopolitical integration - interdependence among nations in the world 3. What are the things that Globalization made possible to cross national borders? - Goods - Services - Capital - Technology - Cultures 4. The fundamental basis of Globalization represents - Freer international trade or investment - Free flow of goods and services 5. Globalization and International Trade and Investment are interlinked 6. Globalization includes - process of integrating the nations of the world 7. With the process, - nations become more economically efficient and interdependent 8. The process is based upon - Changes in national policies 9. National policies aim to - Promote private enterprise - Reduce or eliminate economic, cultural, and social barriers between countries 10. Policies include - Moving toward strengthening the role of the private sector - Supporting free-market pricing - Eliminating barriers to free movement of goods, services, capital and information technology - Promoting institutions that enforce transparency, disclosure, and the rule of law 11. Actions taken by one country could affect others 12. What are Emerging Economies? - Countries that are implementing more open trade and free-market policies 13. Companies in emerging economies are - redesigning products without sacrificing quality to reduce costs 14. Innovations in emerging economies will - Enrich rather than hinder innovation in rich countries 15. What is Decoupling? - fundamental global shift in which industrialized developing economies that were once dependent to industrialized countries for economic advancement, begin to solidly grow - It is based on the underlying economies strengths rather done the ups and downs of the world s richest countries 16. Sustainable decoupling process would lead to - A multipolar world 17. What is a Multipolar World?
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