Question 1

Identify the first three waves of globalisation and their respective main drivers.

Accepted Answer

The first wave of globalization occurred during the late 19th century and was driven by technological advancements in transportation and communication, such as the steamship and the telegraph. This allowed for the rapid movement of goods, people, and information across borders.

The second wave of globalization took place in the late 20th century and was primarily driven by advancements in information technology, particularly the internet. This facilitated the flow of information, capital, and services on a global scale, leading to increased interconnectedness between countries.

The third wave of globalization, which began in the late 20th century and continues to the present day, has been driven by the liberalization of trade and investment policies, as well as the rise of multinational corporations. This has led to the increased integration of national economies and the expansion of global supply chains.

Overall, the main drivers of these waves of globalization have been technological advancements, particularly in transportation and communication, as well as changes in trade and investment policies. These drivers have facilitated the increasing interconnectedness of the global economy and the movement of goods, services, and information across borders.

Question 2

What is meant by a trend towards a multipolar world and why does it matter?

Accepted Answer

A trend towards a multipolar world refers to the shift in global power dynamics from a unipolar or bipolar system to one where multiple countries or regions hold significant influence and power. This shift is often seen as a response to the decline of a single dominant superpower and the rise of other major players on the global stage, such as China, India, and the European Union.

This trend matters because it has the potential to reshape international relations, global governance, and geopolitical dynamics. In a multipolar world, no single country or bloc has the ability to unilaterally dictate global policies or outcomes. This can lead to a more balanced distribution of power and influence, as well as increased competition and cooperation among major powers.

Additionally, a multipolar world can also present challenges and opportunities for addressing global issues such as climate change, security threats, and economic development. It may require new forms of diplomacy, cooperation, and conflict resolution as different powers vie for influence and seek to protect their interests.

Overall, the trend towards a multipolar world matters because it reflects a shifting global order that has the potential to impact a wide range of international issues and relationships. It requires careful analysis and strategic thinking by policymakers and leaders to navigate the complexities and opportunities that come with a more multipolar world.

Question 3

What is the difference between de-facto and de-jure globalisation?

Accepted Answer

De-facto and de-jure globalisation refer to two different ways in which globalisation can be understood and implemented.

De-facto globalisation refers to the actual, practical implementation and effects of globalisation in the world. This includes the real-world impact of global interconnectedness, such as the flow of goods, services, and information across borders, the spread of cultural influences, and the integration of economies on a global scale. De-facto globalisation is concerned with the tangible and observable aspects of global interconnectedness and how it shapes the world we live in.

On the other hand, de-jure globalisation refers to the legal and formal frameworks that govern globalisation. This includes international trade agreements, treaties, and organizations that are designed to facilitate and regulate global economic and political interactions. De-jure globalisation is concerned with the legal and institutional structures that underpin global interconnectedness and provide a framework for international cooperation and governance.

In summary, the difference between de-facto and de-jure globalisation lies in their focus - de-facto globalisation deals with the actual effects and manifestations of global interconnectedness, while de-jure globalisation deals with the legal and institutional frameworks that govern and regulate global interactions. Both perspectives are important for understanding the complex and multifaceted nature of globalisation.

Question 4

Identify the 3 correct statements 
1. Globalisation can be understood as an increase of cross-border activities.
2. The economic rise of China vis-à-vis the advanced countries has contributed to an increasingly bipolar world.
3. Economic globalisation and regionalisation of economic activity are not necessarily mutually exclusive developments.
4. The term "de-jure globalisation" signifies the globalisation of international law.
5. Technological and political developments influence globalisation by affecting the economic behaviour of companies and households.
6. The second wave of globalisation was driven by a widespread liberalisation of cross-border capital mobility.

Accepted Answer

The answer of Identify the 3 correct statements 
1. Globalisation...

Question 5

What are the main drivers of globalisation?

Accepted Answer

The answer of What are the main drivers of globalisation?...

Question 6

What is meant by global localisation, aka "glocalisation"?

Accepted Answer

The answer of What is meant by global localisation, aka...

Exam 1: Introduction to the New Global Economy

Identify the first three waves of globalisation and their respective main drivers.

What is meant by a trend towards a multipolar world and why does it matter?

What is the difference between de-facto and de-jure globalisation?

What are the main drivers of globalisation?

What is meant by global localisation, aka "glocalisation"?