ay Questions (Choose 5 out of 7) Provide a graphical illustration of dynamic nat
ID: 1141025 • Letter: A
Question
ay Questions (Choose 5 out of 7) Provide a graphical illustration of dynamic nature (interrelationships) among econom variables List at least four (4) key issues in connection with globalization. List at least four (4) key institutions that facilitate globalization. List at least five (5) key determinants for progressive and democratic economy. List at least two (2) benefits and two (2) costs of globalization. List four (4) major forms of totalitarianism. Using Hofstede's four cultural dimensions, characterize American culture.Explanation / Answer
Since the first question is not complete, I shall start with the second question.
The four main issues with the globalization are:
a. The movement of jobs from developed to developing countries/regions.
b. Brain drain
c. Extensive use of finite natural resources
d. Financial interdependency among the nations
The key institutions that facilitate globalization are:
a. World Trade Organisation (WTO)
b. International Monetary Fund (IMF)
c. World Bank
The key determinants for a progressive democratic economy are:
a. The economic development of the country as argued by classical modernization theory.
b. The democracy is more likely to survive as the countries become richer being argued by the survival story.
c. The countries less dependent on the revenue from the natural resources are more like to democratize according to the political resource curse.
d. The multi-party authoritarian regime is more likely to create the higher possibilities of democratization.
e. The socio-economic factors such as urbanization, education, and industrialization also serve as the prerequisite for democracy in a country.
The two main benefits of globalization are:
a. The globalization has increased the availability of jobs in the developing countries due to cheap labor and higher demand due to specialization.
b. Globalisation tends to increase the capital inflows at a faster rate helping boost technology transfer and growth of the companies.
While the two main costs are:
a. Availability of competitive goods at the cheaper prices has intensified the domestic competition and thus makes it harder for the domestic producers to sustain.
b. The increasing integration among the countries has increased the risk of transferring the vulnerabilities from one country to another. So, if one country collapses, the integration makes the collapse to ripple through the system.
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