Globalization and the World Economy

What event really accelerated the economic integration of big nations after the end of the Cold War?

• The election of Donald Trump in the US

• Signing the North American Free Trade Agreement into law

• The global pandemic testing global supply chains

• The vote for Brexit in the UK

According to the text, what is good for the world when countries work together and their economies are linked?

• Peaceful relations

• Higher tariffs

• Increased competition

• Economic isolation

What event triggered a big trade war between China and the US?

• The election of Donald Trump in the US

• The global pandemic

• The vote for Brexit in the UK

• The exit from the European Union in the UK

What did the International Monetary Fund find would happen if there was a full fracturing of the global economy?

• Elimination of 7% of global GDP

• Increase in global GDP

• Decrease in global trade

• Growth in the French and German economies

Which country remains the world's factory floor according to the text?

• China

• Morocco

• Poland

• Vietnam

What term is used to describe economies that are attracting factories from both the US and China?

• Neutral economies

• Fragmented economies

• Connector economies

• Regional economies

What country is mentioned as attracting investment from China, South Korea, and US chip makers to act as a link between Europe and the rest of the world?

• Morocco

• Poland

• Vietnam

• Indonesia

Which country is described as a textbook example of nearshoring due to its location on the US border?

• Vietnam

• Poland

• China

• Mexico

What is one key feature that global manufacturers look for in economies to set up factories?

• Motorways and ports

• High taxes

• Lack of infrastructure

• Political instability

According to the text, what will continue to happen despite tensions at a government-to-government level?

• Decrease in global trade

• Global economic collapse

• Halt in money flow

• Business will continue, money will flow around the world