IBUS 310 Midterm
"old" globalization - ANS-common belief in the benefits of open borders
10 flatteners - ANS-- collapse of Berlin wall
- Netscape: internet expansion
- Workflow software
- Outsourcing
- Offshoring
- Open source
- Supply chaining
- Insourcing
- Informing
- "The steroids": phones, tablets, computers, laptops
6 reasons civilizations will clash - ANS-- differences engrained, especially religion
- globalization means more interactions, further differences
- economic modernization causes rise in fundamentalism (backlash to globalization)
- west is at peak of power, creates reaction to conflict
- cultural differences are harder to get around than political/economic differences
- increased economic regionalism
1. Cultural, mainly religious differences
2. Increase in population increases the awareness of differences
3. Economic modernization and social changes
4. West's dominance of the free world
5. Less flexible/ compromiseable cultural differences6. Increased economic regionalism
6 ways in which trade affects the individual - ANS-1) consumers prefer free trade because it
makes imports cheaper
2) workers prefer free trade if they're employed in an exporting sector, but would prefer
protectionism if they worked for a firm that competes with imports
3) workers prefer policies that favor labor and business owners prefer policies that favor capital
4) residents of communities will prefer policies that will benefit their local industries
5) citizens of nations prefer policies that strengthen the nation as a whole
6) individuals should weigh all of the above considerations in the context of one's own personal
sense of values
absolute advantage - ANS-Adam Smith's invisible hand, a country is more efficient at producing
a product than any other country producing it
, Administrative (CAGE) - ANS-Differences in corruption, legal rules, political risk and instability,
government policies, colonial ties
Antidumping Policies - ANS-curbs against selling goods in a foreign market at below their costs
of production or below their "fair" market value
Arguments against Brexit - ANS-- economic stability and the UK's dependence on the EU as a
trading partner
- avoid economic and political uncertainty
- a stronger and more stable Europe
- 4 freedoms: goods, capital, services and labor
- smaller population could mean weaker housing market
Arguments for Brexit - ANS-- control immigration
- increased competition by establishing independent trade deals
- strengthen domestic industries, such as fishing
- reject bureaucrats that people did not vote for
- bring back authority to elected officials
Bangladesh Workers - ANS-Alliance for bangladesh worker safety, didn't have a legally binding
agreement, no union involvement, firms commit to not conducting business with any bangladesh
company that does not meet approved safety standards
comparative advantage - ANS-the ability to produce a good at a lower opportunity cost than
another producer
explained: Ricardo, a country specialize in production of goods it produces most efficiently and
buy goods it's less efficient in producing from other countries, even if means buying goods from
other countries it could produce more efficiently itself
composite risk index equation - ANS-impact of event x probability
Convergence IV - ANS-Y2K, when we thought computers would crash. Everyone invested
money into technology to avoid this crash, helped build a lot of growth. Would we have
progressed as quickly if we had not been so terrified of this event?
Cultural (CAGE) - ANS-Different languages, ethnicities, religions, values, norms
cycle of globalization - ANS-get to a point of high globalization where people get sick of it and
starts to decrease
Dell Theory of Conflict Prevention - ANS-No two countries that are part of a major global supply
chain will ever fight a war against each other as long as they are part of the same global supply
chain
"old" globalization - ANS-common belief in the benefits of open borders
10 flatteners - ANS-- collapse of Berlin wall
- Netscape: internet expansion
- Workflow software
- Outsourcing
- Offshoring
- Open source
- Supply chaining
- Insourcing
- Informing
- "The steroids": phones, tablets, computers, laptops
6 reasons civilizations will clash - ANS-- differences engrained, especially religion
- globalization means more interactions, further differences
- economic modernization causes rise in fundamentalism (backlash to globalization)
- west is at peak of power, creates reaction to conflict
- cultural differences are harder to get around than political/economic differences
- increased economic regionalism
1. Cultural, mainly religious differences
2. Increase in population increases the awareness of differences
3. Economic modernization and social changes
4. West's dominance of the free world
5. Less flexible/ compromiseable cultural differences6. Increased economic regionalism
6 ways in which trade affects the individual - ANS-1) consumers prefer free trade because it
makes imports cheaper
2) workers prefer free trade if they're employed in an exporting sector, but would prefer
protectionism if they worked for a firm that competes with imports
3) workers prefer policies that favor labor and business owners prefer policies that favor capital
4) residents of communities will prefer policies that will benefit their local industries
5) citizens of nations prefer policies that strengthen the nation as a whole
6) individuals should weigh all of the above considerations in the context of one's own personal
sense of values
absolute advantage - ANS-Adam Smith's invisible hand, a country is more efficient at producing
a product than any other country producing it
, Administrative (CAGE) - ANS-Differences in corruption, legal rules, political risk and instability,
government policies, colonial ties
Antidumping Policies - ANS-curbs against selling goods in a foreign market at below their costs
of production or below their "fair" market value
Arguments against Brexit - ANS-- economic stability and the UK's dependence on the EU as a
trading partner
- avoid economic and political uncertainty
- a stronger and more stable Europe
- 4 freedoms: goods, capital, services and labor
- smaller population could mean weaker housing market
Arguments for Brexit - ANS-- control immigration
- increased competition by establishing independent trade deals
- strengthen domestic industries, such as fishing
- reject bureaucrats that people did not vote for
- bring back authority to elected officials
Bangladesh Workers - ANS-Alliance for bangladesh worker safety, didn't have a legally binding
agreement, no union involvement, firms commit to not conducting business with any bangladesh
company that does not meet approved safety standards
comparative advantage - ANS-the ability to produce a good at a lower opportunity cost than
another producer
explained: Ricardo, a country specialize in production of goods it produces most efficiently and
buy goods it's less efficient in producing from other countries, even if means buying goods from
other countries it could produce more efficiently itself
composite risk index equation - ANS-impact of event x probability
Convergence IV - ANS-Y2K, when we thought computers would crash. Everyone invested
money into technology to avoid this crash, helped build a lot of growth. Would we have
progressed as quickly if we had not been so terrified of this event?
Cultural (CAGE) - ANS-Different languages, ethnicities, religions, values, norms
cycle of globalization - ANS-get to a point of high globalization where people get sick of it and
starts to decrease
Dell Theory of Conflict Prevention - ANS-No two countries that are part of a major global supply
chain will ever fight a war against each other as long as they are part of the same global supply
chain
