Question

Discuss the video Globalization at the Crossroads. How does this relate to Economics?

Answer 1

Globalization At The Crossroads with Hernando

A PRODUCTION OF FREE TO CHOOSE MEDIA

PRESENTED BY WTTW NATIONAL PRODUCTIONS/CHICAGO

In north America recently across countries political change from variety of facts the most important fact is Arab the world result is that majority of world population is systemically locked, out of the profit of the economic system by political regression and from legal procedure.

Globalization across Crossroads

Hernando de Soto whose 20 years research indicate this is the only place where is widespread of ownership personal property with efficient, transparent, business and property law. West successful demonstrate its program legal system, property law and developed modern corporations other nation Japan and recent China institute private property and business reform such as post-WWII have seen their economies take off and their middle classes grow.

This relates economics

Globalization of product and financial market means increased economic interaction outside the country in specializing of economic of scale..

• Increasing independence of world refer to Economic globalization as a result of increasing scale of cross border of commodity and service, rapid spread of technology
• Advancement of technology has greatly reduced the transportation and communications cost that makes economic globalization
• Globalization of the (financial) sector has rapidlydeveloping and most important aspect of economic globalization. International finance came across the country serve the needs of foreign trade and investment activities.
• In this concept of Hernando the majority of world population is locked Out of profit of economic system.these majority people relates to economics because if they not lock on economy profit they also part of globalization