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Controversies Surrounding Globalization

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Questions and Answers

What is the main concern regarding globalization in the academic discourse?

The effects of globalization on cultural diversity

The role of social media in globalization

The impact of globalization on climate change

Whether globalization is a fact at all (correct)

Which economic blocks are mentioned as being involved in roughly 90 percent of world trade?

EU, North America, and Japan (correct)

GCC countries (Gulf Cooperation Council)

BRICS countries (Brazil, Russia, India, China, South Africa)

ASEAN countries (Association of Southeast Asian Nations)

What is the division like when it comes to opinions on globalization?

Democracies and autocracies

Developed and developing nations

Western and Eastern countries

Supporters and critics (correct)

Why is it suggested that a more specific definition of globalization is needed?

To understand its character and implications for business ethics Signup and view all the answers

What percentage of world trade involves the EU, North America, and Japan?

Around 90 percent Signup and view all the answers

What does the term 'Global Trade' refer to?

Exchange of goods and services between countries around the world Signup and view all the answers

Which term describes how businesses have adapted their operations to global markets?

Globalization of Trade Signup and view all the answers

What do International Business Transactions cover?

Agreements negotiated by businesses operating internationally Signup and view all the answers

What does economic integration aim to achieve?

To increase overall efficiency across countries Signup and view all the answers

What is the essence of cross-border commerce?

Moving resources from scarce areas to abundant ones Signup and view all the answers

How does global trade impact the economy?

It allows companies to expand beyond local borders for increased sales revenue Signup and view all the answers

What is the main goal of cross-border commerce as mentioned in the text?

To save time and money while ensuring high quality output Signup and view all the answers

Which organization works towards simplifying international trade processes, as mentioned in the text?

World Bank Group Signup and view all the answers

What is a key example of economic integration mentioned in the text?

European Union Signup and view all the answers

What do regional trading blocs aim to achieve, according to the text?

Boost growth prospects for all parties involved Signup and view all the answers

What do global economies encompass, as mentioned in the text?

A range of issues from trade policy changes to capital investments Signup and view all the answers

Why is it becoming feasible for even small enterprises to sell into larger markets online?

Thanks to advances in technology and improved communication links Signup and view all the answers