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  1. Discuss the importance of the most recent phase of globalization and why it is different to previous phases. 
  2. Describe an Economic Union and discuss why the European Union is not a political union. 
  3. Discuss the relevance of the political system in a country where an international business has an export market.
  4. Using the report provided prior to the exam, "Australian Government Response to the Review of Australia’s Space Industry Capability" discuss using theories of international trade, how Australia can gain and sustain a comparative advantage in the space industry
  5. Compare two (2) drivers of market globalization and discuss which one you think has had a more significant impact.

 

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Solution Preview

Historically, globalization has always been driven by the tradeoff which favors the global economics over local politics. The tradeoff then resulted in growth of the FDI and the global trade. But off late, FDI and GDP which were directly linked to globalization have now been 

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