Podcast
Questions and Answers
What is globalisation primarily associated with?
What is globalisation primarily associated with?
- Domestic economic stagnation
- Reduction of trade
- International competition (correct)
- Isolation of economies
Globalisation only generates winners in the economy.
Globalisation only generates winners in the economy.
False (B)
Which countries are noted for their accelerated economic growth since 1980?
Which countries are noted for their accelerated economic growth since 1980?
- Germany and France
- China, India, Bangladesh, and Vietnam (correct)
- Canada and Australia
- Brazil and Argentina
What role has globalisation played in income inequality?
What role has globalisation played in income inequality?
The G-20 membership includes countries like _______, India, and Russia.
The G-20 membership includes countries like _______, India, and Russia.
What significant change occurred in the poorest countries from 1980 to 1997?
What significant change occurred in the poorest countries from 1980 to 1997?
The proportion of people living in extreme poverty has fallen over the past few centuries.
The proportion of people living in extreme poverty has fallen over the past few centuries.
Study Notes
Introduction to Globalisation
- Globalisation refers to the opening of economies to international competition, allowing the flow of goods, services, capital, and people across borders.
- Many countries have embraced globalisation believing it leads to improved economic performance.
- Globalisation can be disruptive, leading to winners and losers, which creates debate.
Global Inequality and Extreme Poverty Trends
- Global inequality widened for a significant period of time before the 1980s, accompanied by an increase in the absolute number of people living in extreme poverty.
- The proportion of people living in extreme poverty declined during the same time.
- Since 1980, there is evidence that these trends have changed.
- From about 1980 onwards, increased economic growth in populous countries, like China, India, Bangladesh, and Vietnam, has been observed.
- These countries experienced faster per capita growth than richer countries, reversing the upward trend in global inequality.
- The poorest one-fifth of countries experienced a population-weighted annual per capita growth rate of 4% between 1980 and 1997, while the richest one-fifth of countries had a growth rate of 1.7% during the same period.
- This indicates the poorest countries experienced faster growth rates in the 1980s and late 1990s compared to earlier decades.
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Description
This quiz explores the complex dynamics of globalisation and its impact on economic performance and inequality. It examines historical trends of extreme poverty and how emerging economies have shifted these patterns since the 1980s. Test your understanding of these critical global issues.
