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Questions and Answers
Tariffs are fees that are imposed on both imports and exports.
True
The concept of leapfrogging refers to countries becoming technologically advanced by directly adopting older technologies.
False
Globalization has allowed developing countries to gain economically at the advantage of other nations.
True
Fair trade is primarily focused on maximizing profits for large corporations.
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The Great Depression marked a significant decline in protectionist policies worldwide.
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The first Millennium Development Goal is to promote gender equality and women empowerment.
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According to the United Nations, extreme poverty is defined as living on less than $1.25 a day.
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The World Bank predicts that by 2030, the number of people living in extreme poverty will remain above 600 million.
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Climate change is seen as a threat to improvements in global poverty.
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Economic globalization involves promoting foreign competitors over domestic production.
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Study Notes
Millennium Development Goals
- Eight goals established by the UN in the 1990s to address global issues, aiming for achievement by 2015.
- First goal: Eradication of extreme poverty and hunger.
- Additional goals include:
- Achieving universal primary education
- Promoting gender equality and women empowerment
- Reducing child mortality
- Improving maternal health
- Combating diseases like HIV/AIDS and malaria
- Ensuring environmental sustainability
- Global partnership for development
Poverty Indicators
- In the Philippines, poverty defined as earning less than 100,534 pesos annually (~275 pesos daily).
- UN defines extreme poverty as living on less than $1.25 a day, aiming for its elimination by 2030.
- Progress noted: 836 million people in extreme poverty in 2015, down from 1.9 billion previously.
- World Bank predicts extreme poverty could drop below 400 million by 2030.
- Climate change poses a significant threat to poverty alleviation efforts.
Economic Globalization
- Describes the increasing interdependence of world economies through cross-border trade, capital flow, and technology spread.
- Economic globalization is considered an irreversible trend impacting global economic development.
Types of Economic Policies
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Protectionism:
- Systematic government intervention in foreign trade to promote domestic production.
- Includes tariffs (fees on imports/exports) and quotas.
- Historical context: practiced during mercantilist era and peaked during the Great Depression of 1929.
- Current concerns about countries like China, Japan, and the United States practicing protectionism.
-
Trade Liberalization:
- Shift from protectionism to free trade policies following World War II.
- Free trade agreements facilitate easier movement of goods and services across borders.
Impact of Technology on Development
- Mobile phones identified as transformative technology for the developing world by economist Jeffrey Sachs.
- Concept of "leapfrogging": countries adopting advanced technologies without going through earlier stages of development.
Fair Trade
- Aims for social, economic, and environmental well-being of marginalized producers.
- Focuses on protecting workers, establishing fair prices, promoting sustainable practices, and creating equitable relationships between producers in the Global South and consumers in the North.
- Fair trade products include coffee, bananas, cotton, wine, tea, and chocolate.
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Description
Explore the Millennium Development Goals established by the UN to tackle global issues such as poverty, hunger, and education. The quiz covers key objectives, indicators of poverty, and the progress made toward these ambitious goals. Test your knowledge on significant global challenges and the efforts to overcome them.
