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Module 1 Notes for Foundations of Business in a Global Environment

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Module 1 of BA310. Notes on Policy Measures to Support and Promote Globalization Introduction. Notes on Globalization and Emerging Economies. Notes on UN Sustainable Development Goals. Notes on IMF's Role and Activities. Notes on WTO and Economic Cooperation. Notes on BRICS Expansion and Interest ...

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  • January 26, 2025
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‭Notes on Globalization and Emerging Economies‬

‭1.‬ ‭Decoupling and Economic Independence‬‭:‬
‭○‬ ‭Developing and emerging countries are increasingly growing based on their own‬
‭economic strength.‬
‭○‬ ‭This shift is known as decoupling, where these countries are less dependent on the‬
‭economic fluctuations of developed nations.‬
‭2.‬ ‭Multipolar World‬‭:‬
‭○‬ ‭The global economy is no longer dominated solely by the United States, Western‬
‭Europe, and Japan.‬
‭○‬ ‭Emerging and developing countries in Asia, Latin America, and Africa are‬
‭becoming significant engines of growth.‬
‭3.‬ ‭Role of Global Institutions‬‭:‬
‭○‬ ‭Institutions like the World Bank, International Monetary Fund (IMF), and the‬
‭World Trade Organization (WTO) have played crucial roles in globalization.‬
‭○‬ ‭These institutions have facilitated international trade and economic cooperation.‬
‭4.‬ ‭Evolution of Globalization‬‭:‬
‭○‬ ‭Historically, globalization involved the expansion of businesses from developed‬
‭to developing countries.‬
‭○‬ ‭In the 21st century, there is a notable flow of businesses from developing to‬
‭developed countries and between developing countries.‬
‭5.‬ ‭Emerging Economies‬‭:‬
‭○‬ ‭The world's 10 largest economies now include emerging countries alongside‬
‭developed ones.‬
‭○‬ ‭BRIC countries (Brazil, Russia, India, and China) are notable examples of‬
‭emerging economies implementing open trade and free-market policies.‬
‭6.‬ ‭Globalization in Daily Life‬‭:‬
‭○‬ ‭Everyday items are often produced in various parts of the world, illustrating the‬
‭interconnectedness brought by globalization.‬
‭○‬ ‭Examples include drinks from the US, computers designed in the US but made in‬
‭China, shirts from Honduras, shoes from Brazil, and phones from Korea.‬
‭7.‬ ‭Definition and Impact of Globalization‬‭:‬
‭○‬ ‭Globalization is the process of eliminating trade, investment, information‬
‭technology, cultural, and political barriers across countries.‬
‭○‬ ‭It leads to increased economic growth, geopolitical integration, and‬
‭interdependence among nations.‬
‭8.‬ ‭Historical Context‬‭:‬
‭○‬ ‭Globalization is not new; international trade has been occurring for centuries,‬
‭exemplified by the Silk Road.‬

, ‭○‬ I‭ t involves not just trade and cultural exchange but also changes in national‬
‭policies to promote free trade and technological advancements that reduce‬
‭communication and transportation costs.‬
‭9.‬ ‭Post-World War II Acceleration‬‭:‬
‭○‬ ‭Globalization accelerated after World War II as nations collaborated to rebuild‬
‭economies.‬
‭○‬ ‭Institutions like the World Bank and IMF played significant roles in this‬
‭rebuilding process.‬

‭ hese notes provide a comprehensive overview of the key points related to globalization, its‬
T
‭historical context, and the rise of emerging economies.‬


‭What is Globalization?:‬
‭1.‬ ‭Introduction to Globalization:‬
‭●‬ ‭Golda from the IMF explains globalization using the metaphor of a bridge.‬
‭●‬ ‭A bridge connects two countries, facilitating trade and economic cooperation.‬
‭2.‬ ‭Example of Trade:‬
‭●‬ ‭One country excels in growing flowers due to suitable soil and skilled farmers.‬
‭●‬ ‭The neighboring country loves flowers but lacks the right conditions to grow‬
‭them.‬
‭●‬ ‭The bridge allows the flower-growing country to sell flowers abroad, boosting its‬
‭economy.‬
‭●‬ ‭The flower-importing country can start new businesses and sell products based on‬
‭the flowers.‬
‭3.‬ ‭Broader Implications of Globalization:‬
‭●‬ ‭Bridges facilitate not just trade but also investment, communication, and idea‬
‭exchange.‬
‭●‬ ‭People can move between countries, enhancing cultural and economic‬
‭interactions.‬
‭4.‬ ‭Benefits of Globalization:‬
‭●‬ ‭Globalization has made goods like food and electronics cheaper.‬
‭●‬ ‭It has increased global wealth, particularly benefiting poorer countries.‬
‭●‬ ‭Over the past 30 years, 1.5 billion people have been lifted out of poverty.‬
‭5.‬ ‭Challenges of Globalization:‬
‭●‬ ‭Not everyone has benefited equally from globalization.‬
‭●‬ ‭Some people feel that the economic bridges bring more problems than benefits.‬
‭●‬ ‭There is a perception that the economy isn't working for everyone or every‬
‭country.‬
‭6.‬ ‭Future of Globalization:‬
‭●‬ ‭The solution is not to destroy the bridges or discard the rulebook.‬

, ‭ ‬ ‭Options include maintaining, rebuilding, or redesigning these bridges.‬

‭●‬ ‭Writing new rules to improve their functionality.‬
‭●‬ ‭Exploring new ways to ensure everyone benefits from globalization.‬
‭7.‬ ‭Call for International Cooperation:‬
‭●‬ ‭Emphasis on the need for international cooperation.‬
‭●‬ ‭Countries and the IMF should work together to build effective economic bridges.‬
‭●‬ ‭Aim to create a future that benefits the global economy and people everywhere.‬


‭Notes on UN Sustainable Development Goals‬

‭●‬ U ‭ niversal Call to Action‬‭: The UN Sustainable Development‬‭Goals (SDGs) unite 193‬
‭countries to improve life on Earth by 2030.‬
‭●‬ ‭Key Goals‬‭:‬
‭○‬ ‭Eliminate Poverty‬‭: Eradicate poverty in all its forms.‬
‭○‬ ‭No Hunger‬‭: Ensure everyone has access to safe, nutritious,‬‭and sufficient food.‬
‭○‬ ‭Health and Well-being‬‭: Provide equal access to healthcare‬‭for a healthy life.‬
‭○‬ ‭Quality Education‬‭: Ensure equal access to quality‬‭education for all.‬
‭○‬ ‭Gender Equality‬‭: Achieve equal opportunities for women‬‭and girls as men and‬
‭boys.‬
‭●‬ ‭Additional Goals‬‭:‬
‭○‬ ‭Safe Drinking Water and Sanitation‬‭: Ensure access‬‭to clean water and‬
‭sanitation.‬
‭○‬ ‭Clean Energy‬‭: Promote access to safe and environmentally‬‭friendly energy.‬
‭○‬ ‭Economic Growth‬‭: Foster sustainable and stable economic‬‭growth with decent‬
‭jobs.‬
‭○‬ ‭Infrastructure and Innovation‬‭: Develop strong infrastructure‬‭and support‬
‭innovations.‬
‭○‬ ‭Reduce Inequality‬‭: Lower inequality within and among‬‭countries.‬
‭○‬ ‭Sustainable Cities‬‭: Develop cities and settlements‬‭without harming the‬
‭environment and people.‬
‭●‬ ‭Environmental Goals‬‭:‬
‭○‬ ‭Sustainable Production and Consumption‬‭: Promote sustainable‬‭and safe‬
‭production and consumption of products.‬
‭○‬ ‭Climate Action‬‭: Take urgent measures to combat climate‬‭change and its impacts.‬
‭○‬ ‭Ocean and Sea Resources‬‭: Ensure the sustainable use‬‭and protection of ocean‬
‭and sea resources.‬
‭○‬ ‭Ecosystem Protection‬‭: Restore and protect Earth's‬‭ecosystems.‬
‭●‬ ‭Societal Impact‬‭:‬
‭○‬ ‭Achieving these goals will result in a society where strong institutions ensure‬
‭peace and justice.‬

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