|6 | GLOBALIZATION 1. INTRODUCTION Globalization is the “process enabling financial and investment markets to operate internationally‚ largely as a result of deregulation and improved communications”(Simon‚ 2002). Globalisation is the most fascinated concept in the social science(Hirst and Thompson‚ 1999). It can be defined as the increased social and
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‘The global economy has moved on from the Asian Tigers; the present and the future of the global economy now lie elsewhere.’ To what extent do you agree with this statement? (40 marks) The Asian Tigers‚ consisting of Hong Kong‚ South Korea‚ Singapore and Taiwan‚ were the second group of countries to develop after World War II‚ with the first being Japan. The Asian Tigers were able to develop due to a combination of comparative advantages‚ including partially existing developed levels of infrastructure
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The North-South Divide In a system rooted in competition what happens if one side gains a dominant advantage? Theory dictates that the capital will flow and that production will increase on the side of the disadvantaged‚ but what if the dominant power decides to change the rules and make its dominance more absolute? These are questions fueling the discussion of North-South conflict. Many reasons for these problems existing have been explained‚ and also many different conclusions on ways to remedy
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Rostow’s first stage‚ Traditional Society‚ identify agriculture as the most important industry‚ but developing countries‚ such as Grenada‚ whose economy is based on exports‚ are restricted by trade policies and competitions from the international market‚ so revenue is a challenge. Also‚ for example Grenada‚ developing countries‚ because of their limited land space‚ cannot be compared to developed large countries who can mass produce. His second stage‚ Transitional/Precondition for Takeoff‚ where
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globalisation. Some | |growth as a result of globalisation (e.g. BRICs Brazil‚ Russia‚ |countries producing raw materials‚ agricultural produce may have to | |India‚ China) |operate in rigged markets (especially by EU‚ NAFTA etc.). Even | | |inside BRICs can be wide differences in income distribution | |Globalisation leads to increased tourism which can boost GDPs
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BRAIN DRAIN Brain drain (or human capital flight)‚ is the large-scale emigration of a large group of individuals with technical skills or knowledge. The reasons usually include two aspects which respectively come from countries and individuals. In terms of countries‚ the reasons may be social environment (in source countries: lack of opportunities‚ political instability or oppression‚ economic depression‚ health risks‚ etc.; in host countries: rich opportunities‚ political stability and freedom‚
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Introduction At the present time‚ people are living in a world where they have Google to answer all their questions‚ Facebook and IMs to connect with their networks‚ YouTube to watch things happen all over the globe‚ cellphones and laptops to makes their lives easier. However‚ there are still people out there that don’t have the capacity to have these privileges. Thus‚ building the Digital Divide: a gap that separates the rich and the poor‚ a gap that is still widening up to this day and a gap that
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relationships between BRIC and developed equity markets Norasyikin Abdullah Fahami+ Mara University of Technology Abstract. The study aims to examine the structure of linkages and causal relationship between the world’s fastest emerging economies (Brazil‚ Russia‚ India and China) and the selected developed countries namely‚ the United States (US)‚ the United Kingdom and Japan. The leading indices of these stock markets are used as proxies of the market. The period of analysis is being divided into
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References: Alfaro L.‚ Chanda‚ A.‚ Kalemli-Ozcan‚ S.‚ Sayek‚ S. (2006)‚ How Does Foreign Direct Investment Promote Economic Growth? Exploring the Effects of Financial Markets on Linkages‚ 07-013‚ 1-5 Aitken‚ B.‚ Harrison‚ A Balasubramanyam‚ V.N.‚ Salisu‚ M. and Sapsford‚ D‚ (1996)‚ Foreign direct investment and growth in EP and IS countries‚ The Economic Journal‚ 106‚ 92-105 Bengoa‚ M Blonigen‚ B.A. and Wang‚ M. (2004)
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introduced to these countries encouraging the change from traditional‚ technologically simple to the modern industrialized nation. The theory was to provide these nations with the technological knowledge to develop “Western-style institutions and market-based economies.” Policymakers based their theory on statistic from Europe and the United States as a basis for establishing standard economic and political policies. The developing nations found the theory to have little association with the experiences
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