10 Questions
What was the key feature of China's rapid growth model?
Reliance on international trade and cross-border investment
How did global trade and foreign investment impact China's economy?
Transformed it into an economic superpower
What is a negative consequence of economic globalization mentioned in the text?
Intensified inequality between rich and poor
In what way does globalization impact market competition?
Increases competitive pressure from foreign goods
What is the main benefit of trade according to the text?
Greater competition leading to price reduction and quality improvement
Why do a large majority of economists support free trade?
Because of its simplicity and undeniable logic
What has been a consequence of globalization in terms of income inequality?
Intensifying income inequality within countries
What is the essence of trade according to the text?
Benefit from greater competition
What does the text mention as a challenge of economic globalization?
Intensifying inequality between rich and poor
What role does competition play in the context of globalization?
Makes markets more competitive through global competition
Explore the characteristics of globalization, including the creation of new social networks that transcend traditional boundaries, and offshoring practices by global corporations. Understand how offshoring impacts economies and production processes.
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