Question and Answer
Question and Answer 1- Explain the importance of the Bretton Woods conference. Describe the role of the two economic institutions that emerged from this conference. In what ways are
Keynesian economics and neoliberalism related to the evolution of these institutions?
The Conference’s two main achievements were establishing the International Monetary
Funds (IMF) and the International Bank for Reconstruction and Development (IBRD). The
experiences learned from the postwar years by US policy leaders shaped the Conference's
structures. Wilson's conviction that trade liberalization fostered worldwide wealth and global
security was upheld by officials such as President Franklin D. Roosevelt and Secretary of State
Cordell Hull. There was much that the experiences of the first thirty years of the 20th
century suggested.
Two economic institutions
Government’s actions to fight the Financial Collapse – excessive trade barriers,
competitiveness currency devaluation, or exclusionary trading blocks – helped create an
unpredictable international context without helping the economic environment. Global leaders
concluded from these experiences that economic integration is the best way to bring peace and
prosperity domestically and internationally. For globalization to operate better, the Bretton
Woods institutions—the IMF and World Bank—have an essential role to play. They were
established by encouraging economic cooperation in 1944 to contribute to the rehabilitation and
preserve the advantages of globalization. They are pursuing the unifying goal of broad-based
prosperity within their different responsibilities today. The World Bank focuses on sustainable
investment, institutional development, and social, ecological, and poverty concerns. The IMF focuses on the operation of the international financial system as a prerequisite for sustainable
economic growth, advocating good monetary policy.
Importance of the Bretton Woods conference
Bretton Woods System has a philosophy of international cooperation, founded on
confidence and reciprocal respect among the approximately 180 nations and their organizations
that make up its membership, as the valuable weakness in meeting these objectives.
Nevertheless, the need for transformation and internal reform is recognized by both
organizations. In recent years, the IMF has adopted several changes to enhance its cooperation
and improve its membership capacity.
As shown by the enormous quantity of information accessible on its internet site, the IMF
has gradually become an honest and accessible organization. It also promotes openness among
its members. It takes measures to enhance the governance of the economy. It encourages the use
of rules and requirements, such as vehicles for effective economic, monetary, and enterprise
management. It works to protect the international economic system's structural integrity as a
global public benefit. It is in the center of efforts to consolidate the financial sectors and combat
cash trafficking in the Member States, notably the standard IMF-World Bank Financial Sector
Assessment Program (FSPA). It promotes absolute domestic ownership by rationalizing the
requirements of IMF-supported programs. Although conditionality is vital, governments must be
accountable for carrying out required changes themselves.
Question and Answer 2- Three practices/policies of neoliberalism. What arguments have
been made in favor of these policies? What examples can you give of discontent with
these policies.
Managers need customer satisfaction as evidence has grown that their work has been
linked to Internet tools that improve their performance with customer satisfaction. IT investment
does not directly affect efficiency from a resource-based point of view. Some small variables are
necessary for accounting, such as customer relations and satisfaction. This means that investing
in IT should strengthen customer relationships that can positively impact customers’
performance.
The following are the most used qualitative techniques for consumer expectations. Focus
Groups: Most importantly, you begin to understand the shopper when you know little about
shopping when you explore potential problems or expose a wide range of ideas. Eight to ten
consumers and usually in a central location. Mini groups comprise four or five interviewees who
discuss more thoroughly with each individual.
On-Line focus groups/Phenomenology:
Normally, more personal topics or more in-depth
studies are necessary on a particular phase of the journey. To encourage conflicting views, the
consumers have led individually or in pairs. This method is best achieved when a consumer is
very close to the event as possible.
Basic theory:
This is a useful approach to understanding obstacles and optimizing
solutions and experience. It gives a real insight into the shopping trip while investigators walk
with the shopper, monitor the behavior, and ask questions during the journey.
Ethnography:
Anthropologically-based ethnographic immersions show the differences between
what customers say and what they do. It relies on passive observations and the acquisition and
exploration of cultural and contextual nuances by specialists.
Mobile Ethnography:
These are good ways of gaining information from consumers and
working with mobile target groups. The app requires a telephone notification app and enables
easy download of text, images, or videos. Consumers are asked to do a job at the juncture at
any environment or stage. As you always have access to your mobile phones, quick and
convenient.
Question and Answer 3-
Overview of the history of the WTO. Explain how that history is linked to the
following article ‘WTO to intensify talks on easing access to Covid-19 vaccines’
The WTO Secretariat has published new information on commercial issues concerning
COVID-19 for the production, manufacturing, and deployment of vaccines. The statement
entitled 'CoVID-19 vaccines to be developed and delivered globally examines how business
policy can help ensure that the COVID-19 vaccines are quickly implemented.
The World Trade Organization’s WTO panel on copyrighted material, including patent
rights and processes for manufacturing technological expertise like vaccinations, agreed to a
Test-Based Process. As a result, it would bring together proposals to better combat COVID-19
through the complex system of laws of the Geneva-based Trade Organization.
WTO and Covid-19
At the World Trade Organization General Council, the developed countries seem to be in
charge of a temporary waiver of intellectual property laws for all COVID-19 vaccines and other
technologies. The proposal has increased with the support the U.S. announced last month from
India and South Africa. The goal was to contribute to the enforcement of vaccine production and
access, beginning with the immediate term.
The meeting had three goals in particular:
The first one was to identify barriers to increased production, fair distribution, and administration of vaccines, particularly trade barriers and look at how the WTO could contribute to such solutions. The second was to bring people together to expand their production, share technology and knowledge, and prepare to finance
further production capacity. To achieve the medical technologies we need and not a country is left behind, the ultimate goal is to think about the way forward, including TRIPS waiver and research and development incentives. When people hear one refrain from everything today continuously, nobody's safe until everybody is safe.
Question and Answer 4-Explain the relationship between Covid-19 and globalization.
Drawing on Sparke (2013), describe what a commodity chain is and explain why these were disrupted
during the pandemic, making it difficult to access particularly goods and services. Globalization has become a way of ensuring individual economic and cultural growth. The increase of urbanization and increasing global economic integration have led to global interconnection. However, commerce and trade are essential contributors to the development of infectious illnesses, as they are vital parts of globalization. In the period of humanity’s and commodity’s mobility and communications, pandemics have been witnessed. Trade and travel
were therefore identified as essential factors in the transmission of the illness.
Covid-19 and Globalization
In terms of mobility, economics, and medical systems, globalization has been operationalized. The mobility and magnitude of persons were evaluated with trade and travel details from airlines and seaports. The financial effect was evaluated based on employees, the annulment of events, food and agriculture, universities, and the supply chain. Health capability has been evaluated following the indicators of the health system and country readiness. Using a preference order approach compared to the optimal solution, we computed a risk score for the pandemic by providing a quantitative assessment of public health capability. In terms of travel, events cancelation, employment and food chains, universities, and hospital capacities, the
pandemic has put unprecedented pressure on the international economies, health, and globalization.
Covid-19 and Globalization
Many firms across the world are highly dependent on manufacturing and supply around the world. Overall, worldwide development has prompted major firms to reassess their supply networks and stability and reliability for an uncertain future. Not just concerning COVID-19, but many other repercussions and government activities worldwide that began to affect supply chains, including the increasing danger of trade wars, nationalistic and protectionist attitudes, sustainability concerns, and considerations of human rights. There is a widespread impact on international trade due to the epidemic and the emergency procedures arising from COVID-19. However, firms have had to confront major commercial and operational interruptions, ranging from reducing supply effects to distribution platforms providers disruption and even obstacles to
complying with their own customer's contractual requirements……….
Question and Answer
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