Question

4. What are the possible scenarios for the development of globalization trends? Are there alternatives suggested and which of these alternatives would be the best option in your opinion?

please i need computer answer ( not handwriting one)

Answer 1

The interdependency of economic reforms among nations is known as "GLOBALIZATION". It creates a greater opportunity for underdeveloped or lesser developed economies to trade internationally. It allows a market of the underdeveloped country also to participate and cater in the international market and supply chain. It also creates more access for capital mobility, skilled work-force, improved transport system, modern technology, cheaper imports and larger exports very easily.

The most possible scenarios for the developement of globalization trends are :-

i) removal of tariff and trade barriers among member countries forming a regional trade agreement.

ii) free trade an common external tariff policy among countries having an agreement on custom union.

iii) allowing movement of resources freely among member nations and forming a common market for trade and commerce.

iv) adopting common set of economic policies and forming an economic union.

There are various alternative methods of globalization too, also known as "Alterglobalization". It advocates alrenative forms of globalization like :-

a) values of democracy - it includes liberty, justice, equality, diversity, sovereignity, etc.

b) global and social justice - introduction of foreign goods and services without disrupting the values, traditions and culture of the respective state of economy.

c) human rights - formation of trade unions, right to work, right to safety and security, etc.

d) environmental protection - greener and eco-friendly practices and technologies of production, setting up regulations on GHG (Greenhouse Gas) emmissions and developing better environmental regulations.