Study Guide.docx Global Business Study Guide (1, 12, 8, 2, 9 11) In order to use this

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Study Guide.docx Global Business Study Guide (1, 12, 8, 2, 9 11) In order to use this study guide effectively, answer the following questions for each competency (chapter): Competency 3004.1.1: T... he Rise of Globalization (Chapter 1) 1.What are the characteristics of globalization? Removal of Trade, cultural and information technology barriers Allows people in different parts of the world to interact and allows for economic activity to take place on a worldwide scale. *integration of economies interdependence among countries *Decoupling – expansion of domestic markets and trade; growing middle class; good education that provides skilled workers; scientists, engineers; etc. *Emerging BRIC Nations – Brazil, Russia, India, China – cheaper goods and services 2.How do major international institutions facilitate globalization? (GATT) end of WWII; spur development, stabilize international monetary system and increase international trade. *International Monetary Fund: oversees monetary system; advise to adopt policies; sound fiscal policy; loans for debts to reduce inflation, decrease trade barriers and decrease budget deficits; promote free market principles *World Bank Group: economic and tech advice; resolve disputes *World Trade Org: negotiate and administers trade agreements; settles trade disputes; promote free trade policies 3.Why is it important for political leaders and institutions to be transparent in responding to global competition? Full disclosure and openness; pol. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . [Show More]

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