Scribd Logo
Upload

Welcome to Scribd!

  • 30 views

    Global Economy

    Uploaded by

    Mayrell Panoncial
    The global economy is interconnected, so decisions by one country can significantly impact others worldwide. For example, loss of U.S. financial instruments would increase costs for the U.S. and create larger deficits, requiring budget cuts of around 1% that could have broad effects globally. True free trade has not been achieved as countries still maintain barriers and manipulate currencies to gain advantages, undermining the potential for competition to lower prices. Globalization relies on an educated workforce familiar with different legal and cultural frameworks who can use technology to integrate economic activities internationally.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Global Economy

    Uploaded by

    Mayrell Panoncial
    30 views2 pages
    The global economy is interconnected, so decisions by one country can significantly impact others worldwide. For example, loss of U.S. financial instruments would increase costs for the U.S. and create larger deficits, requiring budget cuts of around 1% that could have broad effects globally. True free trade has not been achieved as countries still maintain barriers and manipulate currencies to gain advantages, undermining the potential for competition to lower prices. Globalization relies on an educated workforce familiar with different legal and cultural frameworks who can use technology to integrate economic activities internationally.

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The global economy is interconnected, so decisions by one country can significantly impact others worldwide. For example, loss of U.S. financial instruments would increase costs for the U.S. and create larger deficits, requiring budget cuts of around 1% that could have broad effects globally. True free trade has not been achieved as countries still maintain barriers and manipulate currencies to gain advantages, undermining the potential for competition to lower prices. Globalization relies on an educated workforce familiar with different legal and cultural frameworks who can use technology to integrate economic activities internationally.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    30 views2 pages

    Global Economy

    Uploaded by

    Mayrell Panoncial
    The global economy is interconnected, so decisions by one country can significantly impact others worldwide. For example, loss of U.S. financial instruments would increase costs for the U.S. and create larger deficits, requiring budget cuts of around 1% that could have broad effects globally. True free trade has not been achieved as countries still maintain barriers and manipulate currencies to gain advantages, undermining the potential for competition to lower prices. Globalization relies on an educated workforce familiar with different legal and cultural frameworks who can use technology to integrate economic activities internationally.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 2

    GLOBAL ECONOMY

    Example:

    The global economy is worried about any possible loss of the U.S. financial
    instruments. This will cause an increase in its financial costs, which will create
    even bigger budget deficits. This, in turn, will create the need to perform
    budget costs that will have a global impact, since a 1% budget cost on the
    U.S. budget can have considerable effects worldwide. This is an example of
    how the global economy works, where one country’s decisions might have a
    big impact in the overall worldwide economy.

    Connection:
    . Free trade is supposed to reduce barriers such as tariffs, value added taxes,
    subsidies, and other barriers between nations. This is not true. There are still
    many barriers to free trade. The Washington Post story says “the problem is
    that the big G20 countries added more than 1,200 restrictive export and
    import measures since 2008

    *Competition between countries is supposed to drive prices down. In many


    cases this is not working because countries manipulate their currency to get a
    price advantage.

    Economic Globalization
    *needs people who are familiar with the international economic
    situation, who understand the legal and cultural framework of other
    nations, who have a good command of foreign languages, and who
    can use advanced technology. Such people who are the workforce of
    the globalised world are educated and trained in the institutions of
    higher learning. 
    * It is the increasing economic integration and interdependence of national, regional, and
    local economies across the world through an intensification of cross-border movement of
    goods, services, technologies and capital.

    Trade Agreements – Both the NAFTA and the South Korean Korus trade
    agreements might have been good for Wall Street and the multi-national
    corporations but they eliminated jobs in America and expanded our trade
    deficit. The upcoming Trans Pacific Trade Agreement will do the same thing
    and Congress should not fast track this bad agreement for a dozen reasons.

    • globalization decreases the cost of manufacturing. This means that


    companies can offer goods at a lower price to consumers. The average cost of
    goods is a key aspect that contributes to increases in the standard of living.
    Consumers also have access to a wider variety of goods

    The Spread of TRADE, TRANSPORTATION, and COMMUNICATION


    systems on a Global scale in the interest of promoting
    International commerce
    • Also involves a wide variety of processes, opportunities,
    and problems related to the spread of economic activities
    among countries around the world

    Protecting one’s economy from foreign competition by creating trade barriers.  Domestic products
    > Imported goods  TARIFF- tax levied by a government on imports and exports. The money
    collected from tariffs is called a customs duty.  IMPORT QUOTA- limits on the number of products
    that can be imported into a country.  BANS- forbid products on import goods.

    SUSTAINABILITY The degree to which the Earth can provide resource for human needs. 
    Specifically developing the world in a way where the needs of a present day generations are met
    while preserving resources for future generations. (2008) Canada pass the Federal Sustainable
    Development Act SUSTAINABLE DEVELOPMENT

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy