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International Trade and Industry Essay

Sample short-answer exam questions – Lecture 3 Globalization All questions must be answered as far as possible in relation to your chosen organization and/or its industry sector as defined in your ‘organization/ industry profile’. These are ‘short-answer questions so think about how much you can write in 15-20 minutes. The marking scheme awards marks for relevance, application, quality and originality so give your best answer avoiding irrelevance, generality and unoriginality.

1. What is meant by the term ‘globalization’? Illustrate your answer with references to your chosen organization or industry. 2. What are the main indicators of globalization? Illustrate your answer with references to your chosen organization or industry. 3. Recent rapid increases in world trade are a major indicator of globalization. To what extent is this reflected in the trade statistics for your chosen industry? 4. Recent rapid increases in foreign direct investment (F.D.I.) are a major indicator of globalization. To what has F.D.I. affected your chosen organization and/or its industry? 5. Briefly explain what are some of the main drivers of globalization. Illustrate your answer with references to your own chosen organization, industry and/or country.

6. Political and regulatory liberalization are a major driver of globalization. With references to your own chosen organization and or industry briefly explain how this is so. 7. Economic factors are a major driver of globalization. With references to your own chosen organization and or industry briefly explain how this is so. 8. Technological change is a major driver of globalization. With references to your own chosen organization and or industry briefly explain how this is so. 9. The ‘triad’ countries continue to dominate world trade and FDI but there is an increasing challenge to this position from China, India and to a lesser extent from Brazil and Russia. How do these affect your chosen organization and/or industry?

10. Briefly explain what are some of the main barriers to globalization. Illustrate your answer with references to your own chosen organization, industry and/or country. 11. MNCs/TNCs are major actors in the globalization process. How do the activities of MNCs/TNCs relate to your organization and or industry? 12. How important are MNCs/TNCs and FDI to your chosen organization and/or industry? 13. To what extent is your chosen organization or industry globalized? 14. The main aim of the World Trade Organization is to encourage the expansion of international free-trade. How have the activities of the WTO affected your chosen organization and/or a firm(s) in your chosen industry sector?

15. Give a brief explanation of the role of a regional trade agreement or regional trading bloc and how it affects your chosen organization, firms in your chosen industry sector or the country in which your chosen firm or chosen industry is based or trades. 16. When considering barriers to trade we make a distinction between tariff barriers and nontariff barriers. Explain what is meant by non-tariff barriers and how they apply or could apply to your chosen organization and/or a firm(s) in your chosen industry sector.

17. Globalization has resulted in increased migration and yet restrictions on immigration are generally stricter than before. Briefly explain in relation to a country in which your organization or industry operates how it has been affected by migration pressures and restrictions on immigration.


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