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Questions and Answers
What international fixed exchange rate system was established by the Bretton Woods Conference of 1944?
What international fixed exchange rate system was established by the Bretton Woods Conference of 1944?
Gold standard
What event led to the suspension of the convertibility of US dollars into gold by US President Richard Nixon in 1971?
What event led to the suspension of the convertibility of US dollars into gold by US President Richard Nixon in 1971?
Growing public debt incurred by the Vietnam War and Great Society programs, and monetary inflation by the Federal Reserve
What did the US Treasury deliberately offer in 1944 that was suspended by Nixon's action in 1971?
What did the US Treasury deliberately offer in 1944 that was suspended by Nixon's action in 1971?
Convertibility of US dollars into gold
What strategy involved building domestic industries in the 50s and 60s to replace imported products and promote industrial development?
What strategy involved building domestic industries in the 50s and 60s to replace imported products and promote industrial development?
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What factor played a key role in the success of countries adopting import substitution industrialization and export promotion?
What factor played a key role in the success of countries adopting import substitution industrialization and export promotion?
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Which group of countries saw success by aggressively building local industries and promoting exports, as mentioned in the text?
Which group of countries saw success by aggressively building local industries and promoting exports, as mentioned in the text?
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What is one example of a developed country being protectionist?
What is one example of a developed country being protectionist?
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Who are the main beneficiaries of global commerce according to the text?
Who are the main beneficiaries of global commerce according to the text?
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What is the 'race to bottom' referred to in the text?
What is the 'race to bottom' referred to in the text?
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How do host countries attract foreign investors according to the text?
How do host countries attract foreign investors according to the text?
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What characterizes economic relations between developed and developing countries?
What characterizes economic relations between developed and developing countries?
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What do transnational corporations prioritize over government social programs according to the text?
What do transnational corporations prioritize over government social programs according to the text?
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What has led to the growth of national economies today?
What has led to the growth of national economies today?
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Who were the primary beneficiaries of free trade in the past?
Who were the primary beneficiaries of free trade in the past?
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What has profoundly altered the dynamics of the global economy?
What has profoundly altered the dynamics of the global economy?
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What has economic globalization ushered in recent decades?
What has economic globalization ushered in recent decades?
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According to the IMF, how much did the global per capita GDP rise in the second half of the 20th century?
According to the IMF, how much did the global per capita GDP rise in the second half of the 20th century?
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What has been an outcome of the increased exports due to economic globalization?
What has been an outcome of the increased exports due to economic globalization?
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What was the pivotal era that 'changed the shape of the world and the course of history'?
What was the pivotal era that 'changed the shape of the world and the course of history'?
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Which trade route connected Manila in the Philippines and Acapulco in Mexico?
Which trade route connected Manila in the Philippines and Acapulco in Mexico?
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When did the new age of global commercial capitalism begin?
When did the new age of global commercial capitalism begin?
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In what year did the countries establish a common basis for currency prices and a fixed exchange rate system?
In what year did the countries establish a common basis for currency prices and a fixed exchange rate system?
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What important event in economics occurred during the last phase of the Second World War?
What important event in economics occurred during the last phase of the Second World War?
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Where did the delegates from different states assemble for the Bretton Woods Conference?
Where did the delegates from different states assemble for the Bretton Woods Conference?
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What is one way governments were pressured by neo-liberal policies?
What is one way governments were pressured by neo-liberal policies?
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Why did heavy debtor countries struggle to make significant improvements under mandated cut on public spending?
Why did heavy debtor countries struggle to make significant improvements under mandated cut on public spending?
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According to the hegemonic stability theory, what enabled the establishment of a liberal global economy?
According to the hegemonic stability theory, what enabled the establishment of a liberal global economy?
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What interesting and important questions does the globalization of the world economy raise?
What interesting and important questions does the globalization of the world economy raise?
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What were the negative consequences heavy debtor countries faced due to mandated cuts in public spending?
What were the negative consequences heavy debtor countries faced due to mandated cuts in public spending?
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Why did the US emerge as a superpower willing to shape the global economy according to its preferences?
Why did the US emerge as a superpower willing to shape the global economy according to its preferences?
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