trading system. Poor countries have slashed protective tariffs and increased their participation in world trade. If we use the share of exports in gross domestic product (GDP) as a measure of globalization‚ then developing countries are now more globalized than high-income countries.2 Does globalization reduce poverty? Will ongoing efforts to eliminate protection and increase world trade improve the lives of the world’s poor? There is surprisingly little evidence on this question.3 The comprehensive
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WORLD TRADE 1.1.1 The volume of trade flows Trade as an engine of growth Trade has been a common activity since the Stone Age. From exchanging animal furs for grain‚ to the development of currencies and the first bonds in the Middle Ages‚ trade has increased throughout history along with transportation improvements. Trade development gained a new impetus after the Industrial Revolution. Between 1720 to 1971 world trade increased 460 times or 2.7 percent annually. Between 1948 and 1997‚ trade grew
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European crisis: Germany and the role of the trade unions Germany is usually presented in the mainstream media as having successfully weathered Europe’s vast economic crisis while German Chancellor Angel Merkel from the Christian Democratic Union (CDU) has gained enormous influence on the European political and financial scene. By contrast‚ in protests across Greece‚ Spain and other countries hit hardest by the crisis references about Germany as the “Fourth Reich” are increasingly being voiced
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Economy: Trade‚ Globalization & Development Although ’globalization’ has become a controversial buzzword in the past few years‚ international trade has been an important part of the world economy for a very long time. The ’opening up’ or ’liberalization’ of most country’s domestic markets to trade has occurred gradually over the past 50 years‚ in large part due to the success of the General Agreement on Tariffs and Trade (GATT)‚ which has now become institutionalized as the World Trade Organization
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JÖNKÖPING INTERNATIONAL BUSINESS SCHOOL JÖNKÖPING UNIVERSITY The Role of FDI and Openness to Trade in Economic Growth A study of Africa and Asia Bachelor thesis within Economics Author: Maria Beradović 851117-2986 Jeanette Hennix 801004-4827 Tutor: Ass. Prof. Scott Hacker Ph.D. Candidate James Dzansi Jönköping 01-2009 Acknowledgements The authors would like to thank Associate Professor Scott Hacker and PhD Candidate James Dzansi for the help‚ guidance and support during the process of
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With reference to case studies‚ critically evaluate the success of management schemes in fragile environments (40 marks) A fragile environment is one which is easy to disrupt‚ and once disrupted‚ difficult to restore. An example of this kind of environment is the Sundarbans; the largest single block of mangrove swamp in the world‚ covering 10‚000 km² from the coasts of West Bengal to Bangladesh. The mangrove swamps are sensitive to a number of factors‚ including temperature‚ salinity and sea level
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Which way to grow? The question is‚ should the company expand horizontally or should the company diversify or expand vertically? There is no clear cut answer to this question. There are advantages and pitfalls to each of these methods and there are many examples of organisation where a certain choice has proven extremely profitable and vice versa. This essay will provide advantages and disadvantages of horizontal expansion by comparing it with vertical and diversified growth. The reader will be
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impact of Vietnam’s WTO membership on business environment: The case study in Da Nang city 1/ The awareness of enterprises of the impact of Vietnam’s WTO accession 2/ The specific preparations of enterprises before and after Vietnam joining to WTO 3/ Business performance 4/ Enterprises’ advantages and disadvantages in recent years 5/ Supports of governement and agencies 6/ Relationship with government agencies in the context of Vietnam joining WTO 7/ Evaluating impacts of WTO accession of Vietnam
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these pillars was the ’balance of power’ system that prevented long and destructive wars between main global power blocks. The second was the monetary exchange system embedded in world economy based on ’gold standard’. The third was the system of trade based on self-regulating market that was entrenched in the social welfare of the society - that created unequal distribution. The fourth was the liberal political system of the state governance. Polanyi witnessed and experienced the period of the ’Great
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World Trade Organization (WTO) has completed its eleventh year of existence. Its rule based approach based on principles of trade without discrimination‚ freer trade through negotiation‚ predictability through binding and transparency‚ promoting fair competition and encouraging development and economic reform has definitely yielded increased trade in the world. This is evident from the increasing trend in global trade in the world over the years. However‚ its impact on different sectors of the economy
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