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Questions and Answers
What percentage of undernourished individuals live in developing countries?
What percentage of undernourished individuals live in developing countries?
What is the daily income of the bottom 50% of the population?
What is the daily income of the bottom 50% of the population?
By 2050, the global population is projected to reach approximately how many billion people?
By 2050, the global population is projected to reach approximately how many billion people?
What is the expected increase in global food demand by 2050?
What is the expected increase in global food demand by 2050?
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What is the average daily income of the top 1% of the population?
What is the average daily income of the top 1% of the population?
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What was the increase in life expectancy at birth in less developed countries since 2000?
What was the increase in life expectancy at birth in less developed countries since 2000?
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How many people live below the international extreme poverty line of $1.90 a day?
How many people live below the international extreme poverty line of $1.90 a day?
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What is the estimated number of undernourished individuals as of 2016?
What is the estimated number of undernourished individuals as of 2016?
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What is the primary definition of globalization?
What is the primary definition of globalization?
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Which of the following is NOT considered a medium of globalization?
Which of the following is NOT considered a medium of globalization?
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What is a potential negative impact of globalization mentioned in the content?
What is a potential negative impact of globalization mentioned in the content?
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Globalization impacts which of the following?
Globalization impacts which of the following?
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What role does public perception play in globalization?
What role does public perception play in globalization?
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What is one of the main forms of globalization according to the lecture structure?
What is one of the main forms of globalization according to the lecture structure?
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In the context of globalization, which of the following is considered a challenge?
In the context of globalization, which of the following is considered a challenge?
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What is one of the quantifying instruments of the global economy?
What is one of the quantifying instruments of the global economy?
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What was the total number of Nike retail stores worldwide in 2013?
What was the total number of Nike retail stores worldwide in 2013?
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In which year did Nike experience its highest number of retail stores according to the provided data?
In which year did Nike experience its highest number of retail stores according to the provided data?
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What is the primary aim of the WTO?
What is the primary aim of the WTO?
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How many retail stores did Nike have in 2015?
How many retail stores did Nike have in 2015?
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Which organization was formed in 1947 with the goal of facilitating global trade?
Which organization was formed in 1947 with the goal of facilitating global trade?
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By how many stores did the total number of Nike retail stores increase from 2012 to 2013?
By how many stores did the total number of Nike retail stores increase from 2012 to 2013?
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Which of the following years showed a decrease in the number of Nike retail stores compared to the previous year?
Which of the following years showed a decrease in the number of Nike retail stores compared to the previous year?
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What percentage of global trade flows are managed by the WTO's member states?
What percentage of global trade flows are managed by the WTO's member states?
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What was the total number of Nike retail stores in 2009?
What was the total number of Nike retail stores in 2009?
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Where is the headquarters of the World Trade Organization (WTO) located?
Where is the headquarters of the World Trade Organization (WTO) located?
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Which year had the least number of Nike retail stores in the given data?
Which year had the least number of Nike retail stores in the given data?
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What is a key principle that the WTO upholds regarding trade relationships?
What is a key principle that the WTO upholds regarding trade relationships?
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What was the number of Nike retail stores in 2016?
What was the number of Nike retail stores in 2016?
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What does foreign direct investment (FDI) represent?
What does foreign direct investment (FDI) represent?
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How many employees approximately work at the WTO?
How many employees approximately work at the WTO?
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Which of the following organizations succeeded GATT?
Which of the following organizations succeeded GATT?
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Which country had the highest net inflow of foreign direct investment as a percentage of GDP according to the provided data?
Which country had the highest net inflow of foreign direct investment as a percentage of GDP according to the provided data?
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What was the percentage decrease in global FDI flows in the first half of 2017 compared to the second half of 2016?
What was the percentage decrease in global FDI flows in the first half of 2017 compared to the second half of 2016?
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What type of trade arrangement does the WTO promote?
What type of trade arrangement does the WTO promote?
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Which of the following countries is NOT mentioned as a context for FDI data?
Which of the following countries is NOT mentioned as a context for FDI data?
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What does it mean when FDI is characterized as net inflows?
What does it mean when FDI is characterized as net inflows?
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What percentage of GDP per capita growth in developing economies is attributed to labour productivity from 1990 to 2015?
What percentage of GDP per capita growth in developing economies is attributed to labour productivity from 1990 to 2015?
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What was the average annual increase in GDP per capita for developing economies from 1991 to 2015?
What was the average annual increase in GDP per capita for developing economies from 1991 to 2015?
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Which of the following statements about food waste in rich countries is correct?
Which of the following statements about food waste in rich countries is correct?
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Over the last 20 years, what trend has been observed regarding the average proportion of women in parliament?
Over the last 20 years, what trend has been observed regarding the average proportion of women in parliament?
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What is the main driver of economic growth according to the information provided?
What is the main driver of economic growth according to the information provided?
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What was the proportion of GDP per capita growth attributed to labour productivity in developed economies?
What was the proportion of GDP per capita growth attributed to labour productivity in developed economies?
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Which region's net food production is almost equivalent to the food wasted by rich countries?
Which region's net food production is almost equivalent to the food wasted by rich countries?
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What was the overall impact of labour productivity on world GDP from 1990 to 2015?
What was the overall impact of labour productivity on world GDP from 1990 to 2015?
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Study Notes
Global Economy Mechanisms - Lecture 2
- Globalization is the process of creating interconnected networks across continents, facilitated by diverse flows like people, information, ideas, capital, and goods
- Globalization erodes national boundaries, integrating national economies, cultures, technologies, and governance, establishing complex interdependence
- Globalization increases international markets for goods and services, including production, finance, competition among corporations, technology, and industries
- Advances in globalization have benefited many, but some fear it exacerbates inequality and harms the poor
- In 2016, 830 million people lived below the international poverty line (US$1.90 per day)
- Nearly 800 million people were estimated to be undernourished in 2016
- Global food production needs a significant increase (60%) by 2050 to meet anticipated demands for a global population of 9.7 billion people
- 98% of undernourished people reside in developing countries
- Average income for the top 1% of the world's population was $290 per day in 2016, while the bottom 50% earned only $7
- Life expectancy has increased from 63 to 68 years in less developed countries since 2000
- From 1990 to 2015, global GDP nearly doubled
- Labour productivity is a significant driver of economic growth, contributing to 92% growth in developing economies and 86% in developed economies
- GDP per capita increased by 3.6% annually in developing economies between 1991 and 2015, significantly exceeding the growth rate in developed economies
- The number of Nike retail stores grew from 671 in 2009 to 1,096 in 2020
- The global economic power is shifting towards the E7 economies (China, India, Indonesia, Brazil, Russia, Mexico, and Turkey) in contrast to the G7
- Vietnam, the Philippines, and Nigeria are projected to be among the top 10 global economies by 2050
- Globalization has economic, political, cultural, and technological dimensions
- The nation-state's influence has decreased due to globalization's increasing economic and cultural linkages
- Increased pressure to collaborate internationally arises from the economic and cultural ties between countries
Dimensions of Globalization
- Economic: Free trade, minimum tariff barriers, international social division of labour displaced by technical division
- Political: Nation-states losing power, increasing pressure for international collaboration
- Cultural: Social arrangements, the exchange and expression of symbols that represent facts, beliefs, tastes, and values
- Technological: E-mail, video conferencing, internet, worldwide web, company intranets, advancements in transportation technology
Globalization: The Path
- Capitalism, multinational corporations, and lifestyle consumerism are key features of current globalization
- The nation-state is challenged by the rise of international relations and the crisis of the state
- Globalization leads to a decline in the power of states, and pressure to work together across international political boundaries
Measurements of Globalization
- Synthetic index: The KOF Globalization Index measures economic, social, and political dimensions of globalization
- Single index: Financial globalization using Foreign Direct Investment (FDI) as a key measure
Threats to Globalization
- COVID-19 pandemic
- Increased non-tariff trade barriers
- Growing environmental concerns (energy security, water scarcity)
- Backlash against free labor flow (tightened immigration controls)
Case Study: Advantages/Disadvantages of Globalization
- Advantages: Cheaper goods, more competition, reduced poverty, specialization of production, and transfer of ideas
- Disadvantages: Trade imbalances, loss of cultural diversity, corporate tax avoidance, unsustainable growth, and brain drain
Case Study: Global Inequality in Living Conditions
- Health, education, and income show vast disparities between countries
- Children in countries with poor health are significantly more likely to die than those in countries with good health
- Education levels vary substantially, with some countries offering significant educational opportunities while others offer limited chances
- Significant disparities in income exist between the richest and poorest countries
Further Reading
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Description
Explore the complexities of globalization in this quiz, focusing on its impact on national economies and international markets. Understand the challenges it poses, including inequality and food production demands. Dive into statistics highlighting the state of global poverty and undernourishment.
