BCOR -Module 7 Questions And
Answers.
Developed Country - Answer - Economies are highly progressed, strong technological
infrastructure and industrialization
- High per capita income, high human development index, etc.
- Consumertopia, SelfieNation
Developing Country - Answer - Low industrialization
- Low human development index, low per capita income, etc.
- Leguppland, Emergentia
Emerging Country - Answer - Some characteristics of a developed market, but does not meet
standards to be a developed
market
- CanTasteItIa, Subsistland
Spindle, Agarwal (How Cashews Explain Globalization) - Answer - Cultivated in Brazil,
exported by Portugal and commercialized by, America, the snack enriched India —until Vietnam
took over
- When Vietnam decided to automate their cashew processing industry, number of jobs
decreased—but those that remained were better and higher paying
Manjoo (How to make America's Robots Great Again) - Answer - US has hit manufacturing
record thanks to Chinese automation
- China has world's largest market for industrial robots
- more investments being made in China; US is lagging behind and could result in US
manufacturing jobs being offshored
- solution: US should invest more in robots, resurge robot revolution through govt funding
Poverty, Inc. Video - Answer - global poverty industry: wide range of money-making activities
that attract a large portion of their business from the poor because they are poor
- good intentions by outsiders can in many cases make the problem worse
- some aid organizations may actually be cashing in on their concern
- problem: few pause to think what happens after they've written the check
- solution: training and help building connections to the world market could empower a way
out
, Paternalism - Answer when Westerners step in to patronize the poor, it creates a system of
dependence in which the so-called Third World finds it difficult to rise above their
circumstances
Colonialism - Answer attempts of a country to establish settlements and impose political,
economic, and cultural principles in another territory
"Planet Money Makes a T-Shirt" - Answer externalities
- exposure to chemicals
- factory waste pollution
- contamination leads to disease outbreak
What are some of the key differences between the garment industry in Bangladesh and
Columbia? - Answer - Workers in Colombia make more than four times what their
counterparts make in Bangladesh
- unlike in Colombia, workers in Bangladesh don't have clean running water, shelter, enough
food, etc.
Gopinath, Parker (Pros and Cons of Globalization) - Answer Pros
- Increasing economic output and productivity (investors)
- New jobs and increasing wages in places where a good is produced most efficiently
(employees)
- Decreasing product/service costs (consumers)
Cons
- Loss of jobs and decreasing wages in places were a product or service is produced less
efficiently (employees)
- Negative externalities when production standards are lax (community/environment)
Verdict
- According to the Chief Economist at IMF: economic globalization is a net positive
- it produces greater net social well-being
What is the 4th wave of globalization? - Answer Slowbalisation - shrinking or slowing of
international trade, investments, loans and supply chains, marking a distinct shift away from an
influential era of global manufacturing
Globalization: Time Periods - Answer - 1945: significant increase after WWII due to US
sponsorship
Answers.
Developed Country - Answer - Economies are highly progressed, strong technological
infrastructure and industrialization
- High per capita income, high human development index, etc.
- Consumertopia, SelfieNation
Developing Country - Answer - Low industrialization
- Low human development index, low per capita income, etc.
- Leguppland, Emergentia
Emerging Country - Answer - Some characteristics of a developed market, but does not meet
standards to be a developed
market
- CanTasteItIa, Subsistland
Spindle, Agarwal (How Cashews Explain Globalization) - Answer - Cultivated in Brazil,
exported by Portugal and commercialized by, America, the snack enriched India —until Vietnam
took over
- When Vietnam decided to automate their cashew processing industry, number of jobs
decreased—but those that remained were better and higher paying
Manjoo (How to make America's Robots Great Again) - Answer - US has hit manufacturing
record thanks to Chinese automation
- China has world's largest market for industrial robots
- more investments being made in China; US is lagging behind and could result in US
manufacturing jobs being offshored
- solution: US should invest more in robots, resurge robot revolution through govt funding
Poverty, Inc. Video - Answer - global poverty industry: wide range of money-making activities
that attract a large portion of their business from the poor because they are poor
- good intentions by outsiders can in many cases make the problem worse
- some aid organizations may actually be cashing in on their concern
- problem: few pause to think what happens after they've written the check
- solution: training and help building connections to the world market could empower a way
out
, Paternalism - Answer when Westerners step in to patronize the poor, it creates a system of
dependence in which the so-called Third World finds it difficult to rise above their
circumstances
Colonialism - Answer attempts of a country to establish settlements and impose political,
economic, and cultural principles in another territory
"Planet Money Makes a T-Shirt" - Answer externalities
- exposure to chemicals
- factory waste pollution
- contamination leads to disease outbreak
What are some of the key differences between the garment industry in Bangladesh and
Columbia? - Answer - Workers in Colombia make more than four times what their
counterparts make in Bangladesh
- unlike in Colombia, workers in Bangladesh don't have clean running water, shelter, enough
food, etc.
Gopinath, Parker (Pros and Cons of Globalization) - Answer Pros
- Increasing economic output and productivity (investors)
- New jobs and increasing wages in places where a good is produced most efficiently
(employees)
- Decreasing product/service costs (consumers)
Cons
- Loss of jobs and decreasing wages in places were a product or service is produced less
efficiently (employees)
- Negative externalities when production standards are lax (community/environment)
Verdict
- According to the Chief Economist at IMF: economic globalization is a net positive
- it produces greater net social well-being
What is the 4th wave of globalization? - Answer Slowbalisation - shrinking or slowing of
international trade, investments, loans and supply chains, marking a distinct shift away from an
influential era of global manufacturing
Globalization: Time Periods - Answer - 1945: significant increase after WWII due to US
sponsorship
