1- Overview Of IB

Question 1

Globalisation

Answer 1

Socioeconomic reform process of eliminating trade, investment, cultural, IT, political barriers across countries.
Eliminating barriers to cross border trade.
Convergence of consumer tastes and preferences.

Question 2

Decoupling

Answer 2

Global shift in which industrialised country-dependent developing economies grow based on their own underlying economic strengths rather than those of highly developed countries.

Question 3

Multipolar world

Answer 3

World economy in which the engines of growth are comprised of both industrialised and emerging market economies.

Question 4

IMF

Answer 4

Provides forum for cooperation and international monetary problems

Facilitates international trade that promotes job creation and econ growth and poverty reduction

Regulation of financial sector

Promotes ER stability

Lends continued foreign exchange to help address balance of payment problems.

Question 5

World Bank

Answer 5

Focus on global integration through trade liberalisation, analysis and national trade police advice, agreements supporting international standards in financial systems, info and knowledge transfer to developing countries, eradicating communicable diseases

Question 6

WTO

Promotes global trade by:

Answer 6

• Administering trade agreements
• acting as a forum for trade negotiations
• settling trade disputes
• reviewing national trade policies
• providing developing countries with technical assistance and training programs
• cooperating with IMF and WB

Question 7

WTO agreements

Answer 7

Trade without discrimination
Increasingly freer trade
Predictablity of trade relationships 
Promotion of fair competition
Encouragement of economic reforms in developing countries

Question 8

Drivers of globalisation

Answer 8

Declining trade and investment barriers

Role of technological change