COMMERCE 4SA3 Study Guide - Midterm Guide: Multinational Corporation, Heavily Indebted Poor Countries, Labour Market Flexibility
21 Feb 2017
School
Department
Course
Professor
Document Summary
Levels income stream: the globalization of productionethic, globalization of production: sourcing goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production, benefits. Obtain production inputs: opponents and supporters of globalization of jobs and wages. Opponents: eliminates jobs in developed nations, forces wages lower in developed nation, exploits workers in developing nations supporters. Increases wealth and efficiency: generates labour market flexibility, creates jobs in developed nations, advances economies of developing nations, opponents and supporters of globalization of labour and environment. Opponents: globalization lowers labour standards, weakens protection in poor nations supporters. World trade organization (general agreement on tariffs and trade gatt): responsible for policing the world trading system and making sure nation-states adhere to the rules laid down in trade treaties signed by wto member states. International monetary fund (imf) and world bank were both created in 1944 by 44 nations.
