What is the basic liberal argument in support of globalization? What are some of the limitations of this argument?

ECON 401 Assignment 1, Version B

Assignment 1 consists of four questions worth a total of 100 possible marks. It constitutes 10% of your final grade. You should complete and submit this assignment after you have completed all the learning activities for Unit 1.

Prepare a 300–350-word answer for each question, and submit all four responses in one Microsoft Word (or compatible) document.

1. What is the basic liberal argument in support of globalization? What are some of the limitations of this argument?
2. Huntington (1993) suggests that the emerging global economy will increasingly be faced with violent clashes between civilizations. Explain what Huntington means by the term civilization and why he expects such clashes to occur.
3. (a) Explain how privatization, deregulation, and the removal of barriers to foreign direct investment affect the efficiency of business, new business formation, and the rate of economic growth in India during the post-1990 time period.

(b) India now has pockets of strengths in key high-technology industries such as software and pharmaceuticals. Why do you think India is developing strength in these areas? How might success in these industries help to generate growth in other sectors of India’s economy?

4. Describe the major shifts in the world economy over the past 25 years with respect to trade and investment.

Reference

Huntington, S. P. (1993). The clash of civilizations? Foreign Affairs, 72(3), 22-49