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WGU D080 Managing in a Global Business Environment (1).
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WGU D080 Managing in a Global BusinessEnvironment
Worst Forms of Child Labour Convention - 1999 - ANS-Convention (1999) that aimed to
eliminate all practices of child slavery or those similar to slavery
- trade and transactions
- capital and investment movements
- the migration and movement of people
- the dissemination of knowledge - ANS-What four fundamental aspects of globalization
were identified by the IMF in 2000?
global warming, cross-boundary water and air pollution, and overfishing in the ocean -
ANS-What environmental challenges are linked with globalization?
economic, cultural, and political - ANS-What are the three main areas of globalization?
CAGE analysis
Culture, Administration, Geography, Economics - ANS-How would you study the
barriers to cross-border economic activity?
The IMF helps maintain liquidity of global funding by providing a straight-forward
method for nations to borrow and loan to each other through a mechanism called the
special drawing right. - ANS-What are the major functions of the IMF?
The conditions put on the loan require the recipient country to have a policy of austerity.
This policy, which usually results in a cut in funding for social programs, can have a
significant effect on citizens who are living in poverty, according to critics of the IMF.
Other criticisms of the IMF address a lack of representation by the global south and an
overrepresentation by the United States. - ANS-What are some criticisms of the IMF?
- three priorities: helping build sustainable economic growth, investing in people, and
building resilience to shocks and threats.
- two goals: end extreme poverty, improve the income of the lowest 40% of citizens in
each country. - ANS-What are the priorities and goals of the World Bank?
- the hegemony or power imbalance in the leadership of both organizations.
, - enforced conditionality, or structural reforms causing harm, not help to developing
countries.
- the World Bank's support for privatization in general and specifically in the health
sector.
- not considering how funding projects will adversely affect the environment.
- emerging markets, particularly China, frustrated with their lack of influence in the World
Bank. - ANS-What are some criticisms of the World Bank?
The World Trade Organization serves as trade moderator in the world. Governments
determine how much and what to trade after voting on trade policies that all
governments must follow. The World Trade Organization enforces rules and reviews
each government's trade policies to evaluate for fairness and transparency. - ANS-What
is the purpose of the WTO?
- the required review of a nation's trade policies compromises national sovereignty.
- WTO trade rules prohibit tariff protections.
- The most favored nation policy can give multinational companies an unfair advantage.
- it has refused to address the impacts of free trade on labor rights.
- Free trade is not equal across all industries. The United States and the European
Union both have high tariffs on agriculture. These tariffs on agriculture hurt developing
countries where agricultural exports are their primary goods to trade.
- WTO requires consensus to pass a policy. Major trading blocs like the EU and NAFTA
can effectively prevent any plan from moving forward due to this policy.
- has been accused of ignoring environmental concerns.
- It protects developed countries more than developing countries. - ANS-What are some
criticisms of the WTO?
The World Trade Organization was formed after World War II to encourage international
trade by creating a mechanism to negotiate trade agreements. - ANS-Which
organization was formed after World War II to encourage international commerce?
The WTO was established to work towards decreasing tariff rates and protecting the
trade of goods, services, and intellectual property. - ANS-Which strategic network was
established to work towards decreasing tariff rates and protecting commerce and
intellectual property globally?
The IMF's purpose is to provide a way for countries to easily exchange money, provide
financial help to its members, and supervise international economic policies. -
ANS-What is the purpose of the IMF?
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