Global Market Integration in the 20th Century

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18 Questions

What can be defined as markets in which prices for comparable goods do not behave independently?

Integrated markets

Which area experienced labor market integration between 1982 and 1936 according to the text?

Asia

What was a principal feature of globalization in the late 19th century as mentioned in the text?

Mass migration of Indians and Chinese to Southeast Asia

In the 1980’s, what mode of transport largely replaced sailing vessels within Asia and to Western markets?

Steamships

Immigration to Southeast Asia in response to its growing demand for workers derived from what according to the text?

Rapidly expanding demand in core industrial countries for Southeast Asian workers

How is a global business defined according to the text?

Maintains a strong headquarter in one country but has investments in multiple foreign locations

What is a key aspect of globalization mentioned in the text?

Increased interdependence in economic and cultural activities among nations

How does globalization impact inflation according to the text?

Global competition and imports due to globalization keep a lid on prices, reducing the likelihood of inflation

What is a potential benefit of countries liberalizing their visa rules according to the text?

Encouraging cultural exchange and cooperation

How does globalization affect living standards according to the text?

Living standards go up faster due to globalization

What is one characteristic of transactions in a globalized world as per the text?

Transactions involving intellectual properties occur across the globe

What is a negative consequence of over-fishing of the ocean linked with globalization as mentioned in the text?

Decrease in food availability

Which words were unknown up until the very end of the 20th century?

Global, globality, globalism

What is the common view shared by all definitions of globalization mentioned in the text?

Globalization transcends nation-state borders

What has resulted in enumerable contradicting definitions of globalization?

The recent popularized concept of globalization

Which characteristic of globalization has led to resistance movements according to the text?

Transcending nation-state borders

What is also referred to as world economy according to the text?

Global economy

What is one of the ideological movements of resistance to globalization mentioned in the text?

'Mass demonstrations staged in various countries'

Explore the concept of global market integration in the 20th century and its impact on pricing and accessibility of goods for households. Learn about labor market integration in Asia between 1982 and 1936. Dive into the history of integrated markets and how prices behave in deficit areas.

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