Globalization is the "shrinking" of the world and the increased consciousness of the world as a whole. It is a term used to describe the changes in societies and the world economy that is a result of dramatically increased cross-border trade‚ investment‚ and cultural exchange. Globalization has been dominated by the nation-state‚ national economies‚ and national cultural identities. The new form of globalization is an interconnected world and global mass culture‚ often referred to as a "global village. “(Bhagwati
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Stock market: Barometer of indian economy Many assume that the stock market represents the state of the economy. That is the primary reason for this distorted obsession about the market. There are several factually incorrect assumptions about the role of the market‚ says R. Vaidyanathan. | IT is that time of the year when many suggestions are offered to the Finance Minister to modify the Budget to boost the stock market and‚ through that‚ the economy. This year the market is already in an upswing
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Introduction Globalization is the captivating catchword all over the world. Some may praise its gainful fortunes while others denigrate its disfavoring vices. Globalization‚ as an economic phenomenon‚ denotes the integration of national economies to global economy through trade‚ investment and capital flows. Globalization helps move people and flow technology over international boundaries. It removes borders and barriers to trade between nations .In fact globalization deepens international relationships
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countries in Canberra‚ Australia‚ APEC has made great strides in facilitating and improving trade among its member countries. In the first decade after its creation‚ the economies of the member nations accounted for 70% of global growth economically. Objectives of APEC To enhance the positive gains‚ both for the region and the world economy as a whole resulting from growing economic interdependence; to develop and strengthen the open multilateral trading system; and to reduce barriers to trade in goods
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former Soviet Union has not been nearly as successful in making the transition from the communist era to a more market-based economy. According to Russia expert Bruce Parrott‚ not even the Russians are sure just what they want to be going forward. Although‚ the Russian economy faces serious challenges. Russian industry is not likely to regain an important role in a global economy that demands peak efficiency. Consequently‚ the export of primary commodities and raw materials is likely to remain the bulwark
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Economic Malaise An affluent economy has the dynamics to identify their financial strength and prosperity by the principles they practice and execute. However‚ when a country becomes overly confident on their abilities to remain consistent as a global power they become vulnerable to complacency. A nation’s economic wealth becomes susceptible when they no longer recognize the potential risks that may lead their country to either a recession or total collapse of their economy. Japan’s economic malaise
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Over the past seventeen years‚ the Irish economy has transformed from a sleepy‚ depressed backwater of the European Union to the “Emerald Tiger” (Inglis‚ 2008). A considerably lower rate of corporation tax increased Ireland’s attractiveness as a location for foreign direct investment and significantly contributed to the era of prosperity. As a result‚ the country witnessed rapid economic growth‚ low unemployment‚ immigration and fiscal stability. However‚ it is not unjust to state that current Ireland
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The Impact of the Growing Economic Power of China China is the second largest economy in the world after the US. This is measured by both nominal GDP ($4.99 trillion)‚ and by purchasing power ($8.77 trillion). The Peoples Republic of China‚ as it is officially called‚ is the world’s fastest growing major economy in the world with an average growth rate of 10% for the past 30 years. China is also the second largest trading nation in the world as well as being the largest exporter and second largest
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Supply side economics represents the idea that tax cuts have a positive effect on the economy. The Republican party of the US till date relies on supply side economics and mostly advertises their campaign with the glorious Ronald Reagan era coupled with similar policies. Hence‚ when Clinton in 1991 undertook taxing heavily the upper income
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The economic cycle is a fundamental economic understanding of the phases that an economy may experience during certain climates. This can be understood by the basic economic cycle diagram‚ which shows the different periods combined with a line representing trend growth. Governments ideally wish for uniform growth‚ close to or on the trend line‚ this is where the economy is continually expanding and growing at a rate which the government perceives to be sustainable. For example‚ the UK aim for 2.5%
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