The term ‘globalization’ in the most basic level can mean the globalization of international trade‚ however it is also expansion of foreign direct investment (FDI)‚ multinational corporations‚ integration of the world capital markets and much more. Thus‚ globalization can be defined as the interdependence of national economies through trade‚ finance‚ production and a growing web of treaties and institutions. The evidence of globalization is clear. Nowadays‚ over $4 trillion in foreign exchange transactions
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Main features and the cause of recent financial crisis I Introduction On 5 March 2007‚ HSBC announced its 2006 annual result. Highlighted in the presentation material (HSBC (2007))‚ ‘Mortgage arrears in the US resulted in an increase in loan impairment charge from US$448 million to US$2‚171 million for Mortgage Services’. On 2 April 2007‚ as reported in BBC News1‚ ‘New Century Financial‚ one of the largest sub-prime lenders in the US‚ has filed for Chapter 11 bankruptcy.’ 1 On 6 August 2007
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Garrett / CAUSES OF GLOBALIZATION COMPARATIVE POLITICAL STUDIES / August-September 2000 The most important causes of globalization differ among the three major components of international market integration: trade‚ multinational production‚ and international finance. The information technology revolution has made it very difficult for governments to control cross-border capital movements‚ even if they have political incentives to do so. Governments can still restrict the multinationalization of
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“Taylorism”: main features‚ criticisms and modern applications Introduction Taylor first develops the Taylorism in early 20th century‚ this system also known as “Scientific Management”. Taylor believes that the fundamental purpose of business management is to maximise labour productivity in both employee and employer side‚ for the purpose of improve economics efficiency. So according to Taylor himself in The Principles of Scientific Management‚ 1911‚ “The principal object of management should
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Main features of the Incoterms® 2010 rules 1 Two new Incoterms rules – DAT and DAP – have replaced the Incoterms 2000 rules DAF‚ DES‚ DEQ and DDU The number of Incoterms® rules has been reduced from 13 to 11. This has been achieved by substituting two new rules that may be used irrespective of the agreed mode of transport – DAT‚ Delivered at Terminal‚ and DAP‚ Delivered at Place – for the Incoterms® 2000 rules DAF‚ DES‚ DEQ and DDU. Under both new rules‚ delivery occurs at a named destination:
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to the extent that the effected area can no longer support its natural flora and fauna (Thomson‚ www.dmc.engr.wisc.edu). I think that the four main causes of deforestation which interrelate with each other are logging‚ agriculture‚ ranching and population growth. There is an argument called the tragedy of the commons theory which will be discussed. One cause of deforestation is logging. Logging is the practice of cutting down trees‚ then cutting out their central boles. This is for the demand of wood
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What are the main features of hard determinism? According to The Cambridge Dictionary of Philosophy‚ hard determinism is the theory that ‘every event or state of affairs is brought about by antecedent events in accordance with universal causal laws.’ This theory of determinism is therefore supportive of human behaviour being predictable‚ that free will is an illusion and that moral responsibility is redundant. One key feature of hard determinism is the view that free will is an illusion. To elaborate
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The main features of Fauvism‚ Expressionism‚ and Cubism Expressionism as an art form could be loosely defined as a movement of artist’s that wanted to break free from the conventional art movements of the time and express themselves individually‚ free from the constraints of their fellow artist’s ideals. They wanted to be able to express emotion and feeling in their work. The work that falls under the classification of expressionism is widely varied in its style and appearance. Some elements of
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Globalization (or globalisation) is the process of international integration arising from the interchange of world views‚ products‚ ideas‚ and other aspects of culture. Put in simple terms‚ globalization refers to processes that increase world-wide exchanges of national and cultural resources. Advances in transportation and telecommunications infrastructure‚ including the rise of the telegraph and its posterity the Internet‚ are major factors in globalization‚ generating further interdependence of
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integration of financial markets) are three of the main factors causing globalization‚ according to Manuel Castells. Harvey concurs with these claims‚ focusing however on the influence of postwar Fordism and the formation of the new world market through deregulation and financial innovation. The importance of these last two factors is now challenged by the enforcement of financial system regulation at the international level (Lane 2012). The process of globalization has remained the same since the 1990s‚ but
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