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- In its recent report, The Conference Boards Global Economic Outlook 2015, updated November 2014 (http://www.conference-board.org/data/ globaloutlook.cfm), projects Chinas growth between 2015 and 2019 to be about 5.5%. International Business Times (http//www.ibtimes.com/us-exports-china-have rown-294-over-past-decade- 1338693) reports that China is the United States third largest export market, with exports to China growing 294 over the last ten years. Explain what impact China has on the U.S. economy.What do international flows of capital have to do with trade imbalances?State whether each of the following events Involves a financial flow to the U.S. economy or away from the U.S. economy: Export sales to Germany Returns paid on past U.S. financial investments In Brazil Foreign aid from the U.S. government to Egypt Imported oil from the Russian Federation Japanese investors buying U.S. real estate
- If you observed a country with a rapidly growing trade surplus over a period of a year or so, would you be more likely to believe that the countrys economy was in a period of recession or of rapid growth? Explain.Will nations that are more involved in foreign trade tend to have higher trade imbalances, lower trade imbalances, or is the pattern unpredictable?What three factors will determine whether a nation has a higher or lower share of trade relative to its GDP?
- What is more important, a countrys current account balance or GDP growth? Why?What are the major issues with regard to trade imbalances for low- and middle-income countries?"Globalization refers to the worldwide interconnectedness and integration of commodities, services, people, and ideas." Give enough examples to explain the two aspects of globalization
- Read the following definitions of globalization by various scholars. Explain its meaning 1. "Globalization can be defined as a historical stage of accelerated expansion of market capitalism, like the one experiencedn the 19th century with the industrial evolution. It is a fundamental transformation in societies because of the recent technological revolution which has led to a recombining of the economic and social forces on aanew territorial dimension. 2. "Globalization means closer integration of national economies through trade and financial flows as well as cross-border migration of people. As national economies "open up" and lower their external barriers, they become more exposed - and more vulnerable - to global forces and influences." 3. "Globalization is the word used to describe the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and…2. Discuss two major factors that were responsible for propelling the world economic towards globalization. 3. briefly explain any three stages of economic integration that the English-speaking Caribbean has undergone over the past forty (40) years.ESSAY: 1. How is regionalism different from and yet a part of globalization? 2. What are the conflicting ideas between religious thought and the ideology of globalism?
