Describe three fundamental policy measures that those countries need to promote in order to benefit from globalization
Globalization International Business
Globalization: While many domestic institutions play an important role in the globalization process, describe three fundamental policy measures that those countries need to promote in order to benefit from globalization. How would these policies be implemented? How might these policies be promoted? Might also need to reply to two classmates discussion post. I will and can provide their post if agreed upon (200 words)
Some of the policy measures that benefit globalization include taking the global market conditions when implementing economic reforms, we have also seen things such as special agreements between different countries for import and export laws, a third one that I can see is for countries to support competitive markets. As Shahed mentions in her comments property rights, anti corruption policies as well as antitrust laws all are policies that support the global economy.
In short, I believe that it is important for countries to be mindful of what’s going on at a global scale when thinking of their local economy. That is of course if they are interested in participating in the global economy system. As it’s mentioned in the textbook, to get into a larger economy system may have counter effects in the smaller / local space as local prices are affected by external agents now and this trickles down to job reductions among other effects.
2 (50 – 100 words)
As we have read in our eBook globalization is basically the breakdown of any “walls” that prevent a country doing business with other countries around the world. Overall there are about 5 fundamental policies that countries need to promote globalization and benefit, but for today’s discussion I will discuss three. To name a few 1) trade without discrimination 2) predictability 3) encouraging economic reforms for developing countries.
In order for these policies to be successful and for countries to benefit the various government powers that bee need to be transparent. It needs to be expressed to citizens/businesses that globalization does not specifically benefit only the rich. (Gasper, 2014) I feel that it goes hand-in-hand that being transparent also comes with some aspect of accountability as well. With any change a need to be adaptive in order to promote, sustain and globalize a country’s economy.
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