The world is largely connected today in the 21st century. This is as a result of the linkages created from state to state, nation to nation, which tends to be a process of interaction among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information…
As seen on the graph, the level of inequality (the metric measured by the Gini coefficient) is dispersed in a largely uneven manner across the globe, with the exception of the clear trends seen in the major players, trade blocks. The entire EU has a very low Gini coefficient, indicating low financial equality throughout. ASEAN…
Canada has gone from a colonial country to a continental superpower. It cannot be denied that globalization has been an internal part of today’s society. Globalization is a worldwide phenomenon, through the expansion of transportation and communication networks from post-World War 2. This allows countries and people to exchange information and goods more quickly and…
18.1 – 8a – globalization: characteristics and trends Globalization – the movement toward a more integrated and interdependent world economy People are buying more foreign products 16.1 – International Trade – absolute and comparative advantage Why nations trade Specialization is an important reason for trade Exports – the goods and services that a nation sells…
The notion of world integration has been much appraised as advancing the human rights situation worldwide considering the fact that globalization has resulted in the formation of international human rights bodies such as the united nation and international criminal court, whereas UNICEF watches the human rights of children, international cooperation has resulted in the formulation…
Globalization is a worldwide scale of growth, an ongoing process where economies, cultures, and societies are being increasingly integrated. Today, it has become a very controversial issue. Globalization has both positive and negative effects on the world. Positive effects include the reality that large-scale companies that once only outsourced to western countries are now trading…
Financial globalization Interconnection of the world’s financial systems e.g. stock markets More of a connection between large cities than of nations Example: What happens in Asian markets affects the North American markets. Economic Globalization A worldwide economic system that permits easy movement of goods, production, capital, and resources (free trade facilitates this) Example: NAFTA, EU,…
Austrian School (also Vienna School): A school of economics that emphasizes free markets, individual property rights, and freedom of association. It also calls for the abolition of central banks and a return to the gold standard. The school is based on principles postulated by the Austrian economist Carl Menger in the late 19th century. Boom…