4

Module: Global Influences (BUS 3010F)
Individual Reflection Paper: 3,000 words with presentation
Opening:
Why is globalization good?
Globalization is good because it provides the world with more efficient markets,
increases competition leading to better goods, generates wealth in all parts of the
world and builds and stabilizes security. Globalization is steadily growing as
technology allows individuals within each country to communicate with people
previously out of reach.
The world is becoming increasingly interconnected as governments work together to
solve global problems. The globalization process has made markets more efficient
as businesses and organizations have had to relearn how to create a good or offer a
service in the most efficient manner in order to make a profit.
The increased competition is another benefit of globalization. With new producers
appearing frequently, there are more people and businesses competing for a share
of the global economy. This leads to competitive markets that offer higher quality of
goods as well as more affordable prices.
Another benefit of globalization is the change it offers to people in poorer countries. It
gives these people a chance, though perhaps not nearly as great as the chance
people have in wealthier nations, to sell goods and to make a profit leading to
greater wealth distribution. Globalization also protects the world as countries
depending on one another for their economy stability are less likely to attack one
another.
Answer all questions:
Q1: Do you agree with the “Hyper Globalist” claim that the world is borderless. Give
three (3) reasons to support your answer if yes or no. (15 marks).
For Example:
Yes agreed, to the hyper globalist’s view is of a more interconnected world today,
due to improvements in technology. What happens to one part of the world could be
made known in quick time.

Cross-over of culture is more evident because of globalization from affluent /
sophisticated markets to developing once.........pl include referencing of research
materials.(450 words).
Q2: What are some of the features of ASEAN regional grouping and their
implications to members? (15 marks).
For example:
Co-operations in: Political –Security, Economic & Soci0-Cultural Community
attended by the head of state...With particular emphasis on:XXXX during the 2016
ASEAN Summit held in Laos..please include referencing from research
materials..(450 words). Cover during Session #5
ASEAN SUMMIT HELD SEPT 2016 IN LAOS (29th
)
(Ref: http://asean.org/chairmans-statement-of-the-28th-and-29th-asean-
summits/)
-Feature 1: We were pleased to note that in 2015, ASEAN received 108.9 million
international visitors, an increase of 7.3% from 2014. We welcomed the ASEAN
Tourism Strategic Plan (ATSP) 2016-2025 with a vision for ASEAN as a quality
tourism destination by 2025, offering a unique, diverse ASEAN experience, and
committed to responsible, sustainable, inclusive and balanced tourism development,
so as to contribute significantly to the socio-economic well-being of ASEAN people.
-Implications to members: Increase spending by incoming tourist by: STPB as S’pore
is also an attractive country to consider when coming to Asia. All the international
standard activities / events ie: Night F1 race in Sept etc........
-Feature 2: We reaffirmed our shared commitment to maintaining and promoting
peace, security and stability in the region, as well as to the peaceful resolution of
disputes, including full respect for legal and diplomatic processes, without resorting
to the threat or use of force..........
-Implications to members: Increased regional measures with S’pore being the site of:
Interpol shows our / S’pore commitment to handle terror in a concerted effort. Thus
S’pore being a safer location for worldwide corporate investment and for leisure.......

-Feature 3: ASEAN Community Vision 2025 and the United Nations 2030 Agenda for
Sustainable Development.
-Implications to members: This is to show that S’pore is an affluent country and also
is doing her part in the “Green Movement” as in prevention of pollution and saving
the world from global warming. Do as your neighbours do....(all other companies in
that sector)....
-Feature 4: Counter Terrorism...Mentioned under security and stability...
-Implications to members: .....
-Feature 5: Drug trafficking...
-Implications to members: The Misuse of Drugs Act is a drug control law in
Singapore, The statute's penal provisions are draconian by most nations' standards,
providing for long terms of imprisonment, caning, and capital punishment.
-Feature 6: Money Laundering....
- Implications to members: SINGAPORE — Singapore takes the possibility of being
used as a conduit for money laundering and terrorist financing activities “very
seriously”, and the Monetary Authority of Singapore (MAS) will not hesitate to take
action against financial institutions whose anti-money-laundering controls are found
to be lacking, Minister for National Development Lawrence Wong said in Parliament
yesterday.

MAS announced in May it had ordered BSI to shut down its operations here, citing
serious breaches of anti-money-laundering rules, and had referred the names of six
BSI staff — including its former CEO and Deputy CEO — to the public prosecutor to
evaluate if they have committed any criminal offences.
Emphasising Singapore’s firm stance against illicit financing activities, Mr Wong
yesterday reiterated the recent measures taken to strengthen Singapore’s regime
against money laundering, including criminalising the laundering of serious tax
offences; enhancing MAS’ notices and guidelines in line with evolving international
standards; and stepping up inspections of financial institutions.
Projecting S’pore as a clean and vibrant financial hub .
-Feature 7: Cyber security.....
- Implications to members:
-Feature 8: ASEAN –ICT Masterplan 2020...Co-ordinating effort of ASEAN members
for info-Communication Technology.

- Implications to members: ICT cutting –edge development is a must in S’pore
infrastructure development and doing it together will attract investor companies to
the entire region for all sectors..
Q3: What is your understanding of the BREXIT? And express your views of the exit.
(20 marks).
For example:
There were unhappiness with the Brits when they were part of the EU, other then
:Germany and Luxembourg that is doing well the other member states are not doing
well and Britain do not want to be drag down by them.., thus a people’s referendum /
vote was called with around a 4% win to leave....., it’s unclear somewhat to the
further of BREXIT ..please include referencing from research materials..(600 words).
An approach:
-In short there are more gains socially ?....W3..after researching on social gains ..is
that they have all economic implications..Looks likes the freedom of not following
ideas & policies of the EU made Brits feel better socially and not
economically...emotions over logic..
(Ref: https://www.theguardian.com/society/2016/jun/14/brexit-nhs-health-social-care-
disabled-people-eu-referendum)..
(+)The FPH lists other advantages too. “Health and safety at work
legislation is basically European; likewise legislation ensuring the safety of
food, medicinal products and medical devices. The social chapter mandates
generous maternity and paternity leave, guaranteed holidays, the 48-
hour working time directive; equal rights for part-time workers and
protection against unfair dismissal. All are powerful social determinants of
health from which UK citizens have benefited.
(-)The Faculty of Public Health also points out how EU membership has
brought benefits such as cleaner air and water and pan-European joint
working on threats to health that cross national borders, such as antibiotic
resistance and combating pandemics.

-The European convention on human rights, given statutory force in the
Human Rights Act (HRA), has played an increasingly important part in
social care.
-Big lose economically.....W3
(-) Brexit could free up up to £8bn extra a year to spend on the NHS
(Health Services)..
(-)Its own analysis concludes that a post-Brexit economic slump could force
the government to cut the Department of Health’s budget by £10.5bn – the
equivalent of every hospital in England having to shed 1,000 nurses and
155 doctors.
(-)Britain would also no longer have any influence over the European
Medicines Agency, the regulator that approves drugs for use within the EU.
Medical research could be hit too, because Britain currently gains
disproportionately from current funding streams.
(-)An estimated 6% of jobs in the sector are filled by EU migrants. That may
not sound much, but the vast size of the social care workforce means that
this figure equates to 80,000 people in England alone. Free movement of
labour across the EU is “very helpful” to social care employers, says Martin
Green, chief executive of Care England, which represents leading care
providers.
Could they be replaced by workers from the rest of the world? Green says:
“Given that one of the planks of the Brexit campaign is to reduce
immigration, I think it highly unlikely that they would relax controls on
people entering the country to be part of the care workforce.”
-Insert PDF copy:

The consequences of Brexit for UK trade
and living standards By The London
School of Economics & Political Science:
-The European Union (EU) is the UK’s largest trade partner. Around a half of
the UK’s trade is with the EU. EU membership reduces trade costs between the
UK and the EU.
This makes goods and services cheaper for UK consumers and allows UK
businesses to export more.
-All EU countries lose income after Brexit.
-The optimistic scenario: assumes that in a post-Brexit world, the UK’s trade
relations with the EU are similar to those currently enjoyed by Norway. As a
member of the European Economic Area (EEA), Norway has a free trade
agreement with the EU, which means that there are no tariffs on trade between
Norway and the EU. Norway is also a member of the European single market
and adopts policies and regulations designed to reduce non-tariff
barriers within the single market.
But Norway is not a member of the EU’s customs union, so it faces some non-
tariff barriers that do not apply to EU members such as rules of origin
requirements and anti-dumping duties. Campos et al (2015) find that Norway’s
productivity growth has been harmed by not fully participating in the EU’s
market integration programmes.
-In the pessimistic scenario: we assume that the UK is not successful in
negotiating a new trade agreement with the EU and, therefore, that trade
between the UK and the EU following Brexit is governed by World Trade
Organisation (WTO) rules. This implies larger increases in trade costs than the
optimistic scenario because most favoured nation (MFN) tariffs2 are
imposed on UK-EU trade and because the WTO has made less progress on
reducing nontariff barriers than the EU.
-

Example: For the Foreign Financial sector with offices in the UK are moving out to
where???
Brexit: leading banks set to pull out of UK early next
year
(Ref: https://www.theguardian.com/politics/2016/oct/22/leading-banks-set-to-pull-out-
of-brexit-uk).
-Britain’s biggest banks are preparing to relocate out of the UK in the first
few months of 2017 amid growing fears over the impending Brexit
negotiations, while smaller banks are making plans to get out before
Christmas.
-“Most international banks now have project teams working out which
operations they need to move to ensure they can continue serving
customers, the date by which this must happen, and how best to do it,” he
says.
“Their hands are quivering over the relocate button. Many smaller banks
plan to start relocations before Christmas; bigger banks are expected to
start in the first quarter of next year.”
-It has been reported that Goldman Sachs is among those drawing up plans
to transfer around 2,000 of its employees to a rival European city, should
the UK lose its passporting rights.
-The industry body TheCityUk has claimed that up to 70,000 financial jobs
could be lost if Britain leaves the EU without a new, credible relationship in
place for the City of London.

Logic / Truth table: (Scale of 5 or 10 points)
Legend: 1= V.Bad.
2= Bad.
3= Average / Moderate.
4=Good.
5=Execellent.
Criterion
Consideration:
for S’pore Hong Kong Shanghai
1. Govt’s
policies
foreign
banks.
to
2. Ease of doing
business
ranking in
relations to
:The World
Bank
3. Financial
infrastructure:
4. Cost
Living.
of
5.???
Total: 24 (First choice for
Relocation)
21 (Second choice) 20
Q4: The corporate support for Green Initiatives is driven as much by the potential to
sell new products and technologies as it is about saving planet. The key drivers for
Green Initiatives are - corporate image, competitive differentiation, cost saving and
compliance with government regulations.
What are your personal feelings about the green movement? (10 marks).
For example:

- This initiative serves to create the awareness of saving mother earth,
encouraging more people to be environmentally conscious.
Today, this initiative has grown into a month-long multiplatform and
multi-faceted campaign which has become synonymous with
environmental awareness and going green.
Although, the green initiatives must be contributed by larger/ powerful countries in
order to get greater impact. But as long in principle everyone perform their part of
environmental conservation. Whether a country is big or small like :Singapore will
benefit generations to come. For example the “Saving Gaia” campaign by :Media
Corporation of Singapore (MCS)……..pl include referencing from research
materials..(300 words)
-In operating your own business, determining your “return on investment”
is always top of mind when making decisions. One big decision for your
company is whether to implement green initiatives, and that includes
everything from reducing energy consumption to wasting less paper.
-When considering the decision to “go green,” look at both the short and long
term results of green initiatives and, chances are, you’ll discover a number of
benefits.
Those benefits go well beyond feeling good about helping the environment.
They also directly impact your business, both in terms of reducing your
operational costs, as well as streamlining your processes by making them more
efficient.
-Those with manufacturing plants might find the most savings come from
altering their waste disposal plans, but this can be difficult to change if they
handle multiple chemicals every day, which often require strict and limited
disposal options.
On the other hand, a business like a restaurant may optimize their cost savings
by sourcing ingredients locally, which can not only help the environment, but
also maximize efficiency. After all, it’s more efficient to get ingredients from a
local market rather than placing orders and waiting for food deliveries.

Conclusion:
-Responsible government promoting the green campaign to every sector of business
creating an affluent society ....evidence of develop countries status...
Q5: Is culture an important factor for globalization. Why? (10 marks). Cover
Session#6
For Example:
-Culture is : “ways of living” values, ideas, attitudes, and symbols that shape human
behaviour, is learned, not innate.
-defines the boundaries between different groups.
-Has both a pervasive & changing influence on each national market environment.
-It will definitely be more advantageous to know their cultures well inorder to work
together.
-Use either one cross-cultural measurement / theory ( Geert Hoffstedt or Edward. T
.Hall)
Gert Hofstede Dimensions)
1.-Power Distance Index (PDI) focuses on the degree of equality, or inequality,
between people in the country's society. A High Power Distance ranking ( say :60%)
indicates that inequalities of power and wealth have been allowed to grow within the
society. These societies are more likely to follow a caste system that does not allow
significant upward mobility of its citizens.
A Low Power Distance ranking (say:30%) indicates the society de-emphasizes the
differences between citizen's power and wealth. In these societies equality and
opportunity for everyone is stressed.
2.- Individualism (IDV) focuses on the degree the society reinforces individual or
collective, achievement and interpersonal relationships. A High Individualism ranking
indicates that individuality and individual rights are paramount within the society.
Individuals in these societies may tend to form a larger number of looser
relationships.

A Low Individualism ranking typifies societies of a more collectivist nature with close
ties between individuals.
These cultures reinforce extended families and collectives where everyone takes
responsibility for fellow members of their group.
3. -Masculinity (MAS) focuses on the degree the society reinforces, or does not
reinforce,
the traditional masculine work role model of male achievement, control, and power.
A High Masculinity ranking indicates the country experiences a high degree of
gender differentiation. In these cultures, males dominate a significant portion of the
society and power structure, with females being controlled by male domination. A
Low Masculinity ranking indicates the country has a low level of differentiation and
discrimination between genders. In these cultures, females are treated equally to
males in all aspects of the society.
4. - Uncertainty Avoidance Index (UAI) focuses on the level of tolerance for
uncertainty and ambiguity within the society - i.e. unstructured situations. A High
Uncertainty Avoidance ranking indicates the country has a low tolerance for
uncertainty and ambiguity. This creates a rule-oriented society that institutes laws,
rules, regulations, and controls in order to reduce the amount of uncertainty. A Low
Uncertainty Avoidance ranking indicates the country has less concern about
ambiguity and uncertainty and has more tolerance for a variety of opinions. This is
reflected in a society that is less rule-oriented, more readily accepts change, and
takes more and greater risks.
5. -Time / Long-Term Orientation (LTO) focuses on the degree the society
embraces, or does not embrace, long-term devotion to traditional, forward
thinking values. High Long-Term Orientation ranking indicates the country
prescribes to the values of long-term commitments and respect for tradition.
-This is thought to support a strong work ethic where long-term rewards are
expected as a result of today's hard work. However, business may take longer
to develop in this society, particularly for an "outsider". A Low Long-Term
Orientation ranking indicates the country does not reinforce the concept of
long-term, traditional orientation. In this culture, change can occur more

Hofstede’sCultural Dimension
90
Australia
95
Japan
92
80
54
61
46
51
36
31
P
92
LTOUAIMASIDVDI
Different country different cultures,
backgrounds, habits and preferences
Hofstede’s
Cultural
Dimension
Make effective and efficient decisions
rapidly as long-term traditions and commitments do not become impediments
to change.
Edward.T Hall:
1.High context Information:
-In a high-context culture, there are many contextual elements that help people
to understand the rules. As a result, much is taken for granted.
-This can be very confusing for person who does not understand the
'unwritten rules' of the culture.
Low context
-In a low-context culture, very little is taken for granted. Whilst this means that
more explanation is needed, it also means there is less chance of
misunderstanding particularly when visitors are present.
2. Space:....Insert Hidden Dimensions Video...American, Japanese
,German..and French....

3.Time: Monochronic: Do one thing at a time..
& Polychronic: Can do many things at one go...
Advantages of Knowing Cultural differences in International Business:
Why Culture is Important in International
Guest Author:
Denise L. Hummel – Universal Consensus
https://internationalhrforum.com/2009/06/08/why-culture-is-important-in-
international-business/
Doing business on a global basis requires a good understanding of
different cultures. What works in your country might not work well in
another, and could even be interpreted as an insult!
Consider the following basic questions:
Q1: When George Bush gave Chinese Premier Li Peng a gift of cowboy boots
embroidered with the American and Chinese flags, was it an appropriate gift?
Answer1:
1. Yes, a thoughtful sentiment and a keepsake appropriate to the occasion
2. No, a significant miss on the part of administration protocol experts
3. Yes, a good choice, if only he had known the Premier’s correct shoe size.
Answer: 2.
Unfortunately, in China, the soles of the feet are considered to be the lowliest part of
the body and gifts of footwear, no less embossed with the nations’ respective flag, was
a significant miss on the part of administration protocol experts.
Q2: When formalizing a deal in the Middle East, it is imperative to:
1. Determine that the contract is iron clad with strict attention to jurisdictional issues of
international law to secure a just outcome should there be conflict.
2. Solidify the interpersonal trust relationship as this rapport is critical both during the
deal and if conflict develops

3. Retain legal counsel in the country in which the business undertakings will primarily
take place and ensure that this attorney has a golfing relationship with most members
of the judiciary.
Answer: 2.
When doing business in the Middle East, the surest indicator of a successful business
relationship has very little to do with the content of the contract or the extent to
which the language will hold up in court.
Court systems in many of these countries move slowly with inconsistent results, and
your business counterparts in many Middle Eastern countries do not put their faith
in the legal system to determine the outcome of a conflict.
Absolutely essential to the success of the deal is the interpersonal rapport and
relationship established during the negotiation stage and at every point thereafter.
Failure to understand and cultivate this aspect of the deal increases the risk of failure
to a critical degree.
Q3: In sending an email to a Japanese colleague with whom may wish to collaborate on
a potential business deal, you would be most successful if you:
1. Begin the email by addressing the individual warmly and openly, by his first name,
immediately closing the cultural gap.
2. Always use Mr. , Miss or Mrs. followed by the last name of the individual, followed by
an embracing and forthright interaction.
3. Use the last name, followed by the term “sama / Formal version of Mr” to address your
email, followed by clear text set forth with the utmost formality.
Answer: 3.
The risk of email is that it lacks certain social contextual cues such as body language,
eye contact and intonation and can therefore create misunderstandings.
There is also no way to see the demeanor or reaction of your counterpart and adjust
your communication strategy to compensate for a misunderstanding once it is
created.
When in doubt, it is always safer to err on the side of greater formality and
deference.

The Japanese have become accustomed to making allowances for informal
communication from other countries, but you will proceed with more credibility if
you make a sincere effort to adapt to their customs. The use of the term “san / Mr”
and, for those in a position of high authority, “sama / formal version of Mr” is
honorific.
Use the last name, followed by the honorific term, followed by extreme clarity and
formality in the text, with as few assumptions for context as possible.
Summary
The cultural nuances that affect international business obviously go far beyond the
ability to greet your international colleague or choose the correct gift.
Issues related to the culture’s time orientation, whether it is an individualist or
collectivist society, space orientation, and power distance, not to mention conflict
assumptions and non-verbal communication all affect understanding your colleague
across the table, as well as your chances of being understood.
Preparation by a trained expert related to these issues not only assures that
unnecessary blunders will be avoided, it brings to each of us a personal knowledge
that deepens our understanding of others, thereby promoting acceptance,
understanding, and on the level of international relations, peace and prosperity.
..please include referencing from research materials..(300 words).
Q6: “Dirty money” obtained through drug trafficking, gambling, and other illicit
activities use offshore financial centers to escape the same thing as respectable
“clean capital” As senator what sort of regulations do you support? (10marks).Cover
Session #7
For example:
-Small part of Q2 Feature 6 of ASEAN 2016.

- MAS’s policies: MAS Sets Up Dedicated Departments to Combat Money
Laundering and Strengthen Enforcement
Singapore, 13 June 2016… (Ref: http://www.mas.gov.sg/News-and-
Publications/Media-Releases/2016/MAS-Sets-Up-Dedicated-Departments-to-
Combat-Money-Laundering-and-Strengthen-Enforcement.aspx)
-The Monetary Authority of Singapore (MAS) announced that it would set up
dedicated departments to combat money laundering and strengthen enforcement
respectively. The changes will take effect on 1 August 2016.
-Anti-Money Laundering (AML)
Like all major international financial and business centres,
Singapore’s financial sector faces the risk of being used as a conduit
for money laundering and terrorist financing activities. While MAS has
in place a robust regime to protect the integrity of Singapore’s
financial system, the increasing complexities of transnational flows
necessitates heightened supervisory focus on combatting money
laundering and other illicit financing activities.
-Enforcement
-With a financial sector that comprises more than 1,500 financial
institutions of varying sizes and systemic importance, it is not possible
to prevent regulatory breaches and misconduct even with intrusive
supervision. A strong enforcement capability is necessary to conduct
rigorous investigations of suspected violations and misdemeanours
and to take swift actions to establish culpability and punish as
appropriate the institutions or individuals who have breached MAS’
regulations.

-MAS will centralise and strengthen its enforcement functions under a
new Enforcement Department. The new department will continue to
jointly investigate with the Commercial Affairs Department capital
markets misconduct offences. In addition, the new department will be
responsible for enforcement actions arising from regulatory breaches
of MAS’ banking, insurance and capital markets regulations.
- Mr Ravi Menon, Managing Director of MAS, said, "As our financial
centre grows in scale, sophistication, and connectivity, so does the
risk of criminal elements abusing our financial system. We will
strengthen our supervision of financial institutions’ controls to combat
money laundering and illicit financing. And we will enhance our
enforcement capability to deter poor controls or criminal behaviour in
the industry. MAS is resolved to ensure that Singapore remains a
clean and trusted financial centre.”
-Something like CPE for PEI…..
***
-Swiss Banks policies:
-The Swiss Financial Market Supervisory Authority (FINMA) is a public law institution
that supervises most banking-related activities as well assecurities
markets and investment funds.[25]
Regulatory authority is derived from the Swiss
Financial Market Supervision Act (FINMASA) and Article 98 of the Swiss Federal
Constitution.
-On the 27th of May 2015, Switzerland signed an agreement with the EU that will
align Swiss bank practices with those of EU countries, and in effect will end the
special secrecy that EU-resident clients of Swiss banks had enjoyed in the past.
Under the agreement, both Switzerland and EU countries will automatically
exchange information on the financial accounts of each other's residents from 2018.

-
-Proposal Recommendations:
-P1: To have quarterly meeting on suspected status of a list of clients of bank’s in
Switerland.
-P2:
-P3:
Q7: Compare and contrast two countries and see how their international policy has
changed the future of their country. (ie: North Korea and any other country). (20
marks). Cover Session #8..
For example:
An Approach:
International /
Foreign
Policies:
Performance of
S’pore:
Performance of
Thailand:
Performance of
Hong Kong:
Remarks:
1.Tourist
arriving in Asia /
wanting to
competitive:
% arriving in
Asia choosing
S’pore=??%/
2016.
-Implications:.....
% arriving in
Asia choosing
Thailand=??%/
2016.
-Implications:.....
% arriving in
Asia choosing
Hong Kong
=??%/ 2016.
-Implications:.....
2.Stability of
govt in order to
have consistent
international
policies / govt
transparency:
-Stable / proper
succession
planning.
-Implications:.....
-Frequent
military coup /
unstable
policies.
-Implications:.....
-Although C.E
appointed by
Beijing central
govt. But the
people
especially the
younger
university
educated Hong
Kong citizens
are unhappy –
Against govt
policies through
the umbrella
movement.

-Implications:.....
3.Government Ref: Ease of Ref: Ease of Ref: Ease of
assistance to doing business, doing business, doing business,
attract ranking: 2th DB ranking: 46th ranking: 4th DB
investment / 2016: DB 2016: 2016:
setting up of
appropriate
agencies ie:
International
Enterprise:
4.Quality of -Ranked: 8 least -Ranked: 76 -Ranked: 18
government / corrupt least corrupt least corrupt
Corruption
Perception
Index by
Transparency
International:
==============================================================

[Assignment cover sheet]
Name:
Lecturer:
Unit title: Global Influences (BUS 3010F)
Assignment topic: Individual Reflection Paper: 3,000 words with Presentation
Word count:
1

Table of Content
List of Figures................................................................................................................................. 3
1. Introduction................................................................................................................................. 4
2. Question answer.......................................................................................................................... 4
2.1. Question 1: 15 marks – 450w............................................................................................... 4
2.2. Question 2: 15 marks – 450w............................................................................................... 7
2.3. Question 3: 20 marks – 600w............................................................................................... 9
2.4. Question 4: 10 marks – 300w............................................................................................. 10
2.5. Question 5: 10 marks – 300w............................................................................................. 12
2.6. Question 6: 10 marks – 300w............................................................................................. 14
2.7. Question 7: 20 marks – 600w............................................................................................. 16
2

List of Figures
Figure 1: Hofstede’s Cultural Dimension between Australian and Japan .................................... 13
Figure 2: NK and SK comparison................................................................................................. 18
3

1. Introduction
Globalization is not a new concept as it happened in the earliest form of travelling across regions
and countries by people from Greek, Roman, Egyptian and Babylonian Empires thousands of
years ago. Referring to the worldwide economic expansion, it is widely agreed that the
globalization has developed most rapidly since 1950 (Ch. et al., 2011). By definition,
globalization is generally the shrinkage of space and time in various aspects of politics,
economics, socio-culture and technology, etc. (Steger, 2009). The question whether the
globalization is good or bad to the world is still unsolved and controversial, however, it cannot
be denied that the influence it has on the world is significant. In light of this, this paper aims to
explore more about globalization in terms of different real case studies and situations.
Reference:
Ch., M.A., Faheem, M.A., Dost, M.K.B. & Abdullah, I., 2011. Globalization and its Impacts on
the World Economic Development. International Journal of Business and Social Science, 2(23),
pp.291-97.
Steger, M.B., 2009. Globalization: A Very Short Introduction. 3rd ed. Oxford: Oxford.
2. Question answer
2.1. Question 1: 15 marks – 450w
Do you agree with the “Hyper Globalist” claim that the world is borderless? Give three (3)
reasons to support your answer if yes or no.
I disagree with the Hyper Globalist’s claim that the world is borderless. As widely acknowledge,
today, different components of the world are increasingly interconnected and interdependent,
turning the world into a “global village” (Lee & Vivarelli, 2006) thanks to the rapid expansion of
the globalization process. The “borderless world” refers to an open world in which the goods,
services, information, capital, and technology, etc. can be easily flow from nation to nation
(MBA, 2015) and the territorial components in world affairs are less significant (Newman,
2005). However, it is realized that the territory and borders still play a critical role in the world
4

today, particularly when the world has experienced various tremendous changes in politics and
global change.
Namely, three reasons why the claim of borderless world is not supported are as follows:
1) National borders still matter for economic decisions: A borderless world would lead to
the blurring of economic distinctions among nations in which economic decisions are
made with the disappearance of national boundaries as stated by Kenichi Ohmae (Ohmae,
1991). However, despite increasingly great global and regional trade liberalization,
people still consider a lot of factors when deciding to move to or invest in one country
such as geographic proximity, trade barriers erected by the government, compositions
and sizes of the respective economies. Two countries cannot be completely integrated
with the still existence of both tariffs and non-tariffs barriers which are both visible and
invisible under different forms. Evidence can be seen through the trade between Canada
and the United States (US) in which the national borders affect considerably the trade
patterns and product prices in the two countries (Ceglowski, 1998).
2) Technological development: Technology has connected people around the world
effectively via seemingly endless innovation such as Internet, emails, and social network.
Nevertheless, many pages and applications which are worldwide popular are still blocked
in some countries due to the nation’s security reasons and governmental purpose. For
instance all Google services (i.e. search engine, work tools and applications), Dropbox,
Social networks (Facebook, Twitter, Instagram, Picasa, Wordpress.com, Flickr, and
YouTube) and even media such as the New York Times, Wall Street Journal, Economist,
Bloomberg, Reuters, etc. are blocked in China (Fu, 2017). There is also concern that
people around the work seem to get connected with each other thanks to technology, but
we are not connecting at all. A person may spend several hours a day to chat online with
people across the world, but is hesitant to meet a friend nearby in the same city. Sadly, it
appears that we are more “wired” but “not more global” (Stratfor, 2016).
3) Politics: the political and security threat have become a serious issue of concern in recent
decades with the IS terrorists, refugees, bombing, etc., which were made easier and have
caused more widespread impacts by globalization. Now, countries have been much
cautious in coping with such political issues. Recently, the newly elected US President,
5

Donald Trump’s temporarily banning Muslim immigration from seven countries Iraq,
Iran, Lybia, Somalia, Sudan, Syria, and Yemen from entering the US on visas has erected
the national borders on moving through in his efforts to cope with the terrorism threat
(Williams, 2017).
Reference:
Ceglowski, J., 1998. Has Globalization Created a Borderless World? Business Review,
(March/April), pp.17-27.
Fu, F., 2017. The list of blocked websites in China. [Online] Available at:
http://www.saporedicina.com/english/list-of-blocked-websites-in-china/ [Accessed 5 February
2017].
Lee, E. & Vivarelli, M., 2006. The Social Impact of Globalization. Discussion Paper Series.
Bonn: Institute for the Study of Labor.
MBA, 2015. Borderless World. [Online] Available at: http://www.mbaskool.com/business-
concepts/human-resources-hr-terms/16136-borderless-world.html [Accessed 5 February 2017].
Newman, D., 2005. World Society, Globalization and a Borderless World: The Contemporary
Significance of Borders and Territory. World Society Focus Paper Series. Zurich: World Society
Foundation Department of Politics and Government.
Ohmae, K., 1991. The Borderless World: Power and Strategy in the Interlinked Economy. 1st ed.
Fontana.
Stratfor, 2016. Borders in a Borderless Worl. [Online] Forbes Available at:
http://www.forbes.com/sites/stratfor/2016/03/10/borders-in-a-borderless-
world/2/#5b3512270388 [Accessed 5 February 2017].
Williams, J., 2017. Why Trump’s "Muslim ban" won’t stop the terrorism threat. [Online] VOX
Available at: http://www.vox.com/policy-and-politics/2017/1/25/14383316/trump-muslim-ban-
immigration-visas-terrorism-executive-order [Accessed 5 February 2017].
6

What are some of the features of ASEAN regional grouping and their implications to members?
ASEAN is an abbreviation for Association of South East Asia Nations. Established on 8 August
1967 and currently having 10 nation members, ASEAN’s purposes as stated in the ASEAN
Declaration are: 1) “to accelerate economic growth, social progress and cultural development in
the region; and 2) to promote regional peace and stability through abiding respect for justice and
the rule of law in the relationship among countries in the region and adherence to the principles
of the United Nations Charter” (Guerrero, 2008). Accordingly, the ASEAN targets the strong
regional ties in different aspects including economics, socio-culture, law and politics among not
only the 10 members but also with other countries in the world.
Recently, the 28th
and 29th
ASEAN Summit was held in Vientiane, Laos in September 2016 with
the theme “Turning vision into reality for a dynamic ASEAN Community”. The 9 key features of
the Summit which reflect the major nature of the ASEAN regional grouping are related to:
Finance, Transport, Science and Technology, Telecommunications and Information
Technology, Food, Agriculture and Forestry, Energy, Regional growth area, and External
economic relations (ASEAN, 2016). However, given the length limitation of this paper, only
three features will be detailed with their implications to its members:
1) Feature 1: Finance
ASEAN aims at promoting financial integration, inclusion and stability to create a resilient and
inclusive ASEAN capital market. Accordingly, the ASEAN Banking Integration Framework will
be made through the foundation of Qualified ASEAN Banks; the ASEAN+3 Macroeconomic
Research Office will be strengthened (ASEAN, 2016). Finance should definitely be the most
prioritized area of ASEAN given the great significance of the financial sector in each economy,
the volatility of the global economy and increasing difficulty in doing business. The resilient and
inclusive capital market of all ASEAN country members will support the smooth capital flow
among nations, thus facilitating the enterprises. However, one concerned thing is the
interdependence of the nations’ finance will lead to risks of massive collapse when crisis
happens.
7

2) Feature 2: Transport
ASEAN has made efforts to establish the ASEAN Single Shipping Market, Single Aviation
Market, as well as to achieve more liberal and mutually beneficial air transport agreements
(ASEAN, 2016). Such agreements and establishment will greatly benefit the members thanks to
the significantly reduced time and cost, through which boosting the movement of people,
vehicles, goods and services across borders. Accordingly, it promotes both mobility and
opportunities in different areas such as trade, investment, education, and employment, etc.
(Vietnam Breaking News, 2017).
3) Feature 3: Tourism
ASEAN targets a unique, diverse ASEAN experience and a responsible, sustainable, inclusive
and balanced tourism development. Currently, the tourism in the country members are not really
connected and not updated toward innovative features. Thus, the link with other members’
tourism will be able to attract more tourists around the world to enjoy a really new image of
ASEAN. As tourism is the great contributor to each country’s GDP (WTTC, 2016), the tourism
linkage in ASEAN will foster the income of the members from tourism products and services.
Reference:
ASEAN, 2016. Chairman’s Statement Of The 28th And 29th Asean Summits. Chairman's
Statement. Vientiane.
Guerrero, R.B., 2008. Regional integration:the ASEAN vision in 2020. IFC Bulletin No 32.
Manila: Department of Economic Statistics, Bangko Sentral ng Pilipinas.
Vietnam Breaking News, 2017. ASEAN Community: C is for connectivity. [Online] Available at:
https://www.vietnambreakingnews.com/2017/02/ban-in-asean-community-c-is-for-connectivity/
[Accessed 6 February 2017].
WTTC, 2016. Economic Impact Analysis. [Online] World Travel and Tourism Council Available
at: http://www.wttc.org/research/economic-research/economic-impact-analysis/ [Accessed 7
February 2017].
8

What is your understanding of the BREXIT? And express your views of the exit.
Brexit is the abbreviation for British Exit, an important referendum occurring in 23 June 2016 in
which the British citizens voted to exit the European Union (EU). With the turnout of 71.8%, i.e.
over 30 million people voting, the referendum’s result was that the leave won by 52% to 48%.
Across the United Kingdom (UK), England and Wales voted for Leave while Scotland and
Northen Ireland voted for Remain (Hunt & Wheeler, 2017).
Since the referendum, Britain has got the new Prime Minister, Mrs Theresa May. Despite not
supporting the exit from the EU, she would still respect the majority of people’s will. Right after
the exit, the UK appeared to experience a negative shock with the slump in the pound value,
increased cost of firms, and loss of UK’s top AAA credit rating, etc. People even felt regret when
the final decision of exit was announced and a number of demonstrations were carried out to
request for re-vote (Woodford, n.d.). However, it was impossible to change the final outcome of
the Brexit and the UK will officially have left the EU by the summer of 2019, i.e. both EU and
UK will have two years to finalize the exit terms in accordance with the Article 50 of the Lisbon
Treaty (Hunt & Wheeler, 2017).
Despite endlessly continuing arguments on the pros and cons of Brexit, the impact of Brexit is
undeniably significant in various aspects of UK as well as other partners, particularly the EU.
Regarding the impacts on economics, the Brexit would reduce trade between EU and the UK due
to the potential barriers to trade and the loss made from the future market integration within the
EU. This loss will be difficult to be compensated by the main economic benefit of Brexit, which
is the lower net contribution to the EU budget. The loss is expected to be huge especially when
the EU is the largest trade partner of the UK. Assuming the UK will have the full access to the
single market of the EU, it is estimated that the UK household income will drop by 1.3%, or
£850. In a worse case, the drop will be 2.6%, equivalent to £1,700 per household. In addition,
the Brexit will lead to the loss of opportunities for the UK to benefit from a single economic area
of EU and future trade between EU and other countries including the US and Japan,
accompanied with UK’s reduced bargaining power (Dhingra et al., 2016).
9

EU and its members are also impacted by the Brexit. The EU members will lose income gains
due to less trade with the UK. The borders control in UK which will be tightened will affect the
immigrants from other countries to UK. The EU may lose international position and influence
due to the exit of UK as a powerful member, leading to probably less investment into the EU
members. It also loses the budget contribution from the UK. However, it is worth noting that the
level of impact by Brexit on each member depends on the connectedness with the UK, alignment
with UK policy objectives and their level of vulnerability to shocks (Global Counsel, 2015).
I am personally not a supporter for Brexit. From the perspective of a student, I think that the UK
will not the top option for students in other countries once it leaves the EU. Students may have to
pay higher tuition fee, be exposed to fewer scholarships, and be more difficult to be accepted to
enter the UK due to more control borders and visa procedures. Moreover, it will be more
challenging and hesitant to travel from UK to other EU countries, which affects the UK’s
tourism industry.
Reference:
Dhingra, S., Ottaviano, G., Sampson, T. & Reenen, J.V., 2016. The consequences of Brexit for
UK trade and living standards. CEP Brexit Analysis No.2. London: Centre for Economic
Performance.
Global Counsel, 2015. BREXIT: the impact on the UK and the EU. Global Counsel.
Hunt, A. & Wheeler, B., 2017. Brexit: All you need to know about the UK leaving the EU.
[Online] BBC News Available at: http://www.bbc.com/news/uk-politics-32810887 [Accessed 2
February 2017].
Woodford, n.d. The economic impact of ‘Brexit’.
The corporate support for Green Initiatives is driven as much by the potential to sell new
products and technologies as it is about saving planet. The key drivers for Green Initiatives are -
corporate image, competitive differentiation, cost saving and compliance with government
regulations. What are your personal feelings about the green movement?
10

Green initiatives and green movement are associated with environmental issues, which aim at
raising awareness of protecting the earth, and encouraging people to be more environmentally
conscious. Today, the green movement has become an increasingly hot topic given the serious
impacts on the environment including climate change, sustainable development, wetlands, global
warming, fisheries depletion, hydraulic fracturing, and species extinction as well as other
environmental concerns (Lallanilla, 2016).
The green movement has been significantly driven by the businesses rather than the government
in recent years. Despite little progress made and few commitments set towards environmental
goals via various annual summits and conferences such as the Earth Summit or recently the
Rio+20 Summit, the businesses appear take large steps on sustainability (Spors, 2012).
Obviously, green initiatives, or sustainability are associated with expense. However, it is well
realized that any company which successfully embraced the sustainability issue are financially
outperforming. In other words, being green is no longer mere cost of doing business; instead, it is
a catalyst for innovation, profit and new market opportunity creation (Clarke et al., 1994). Recent
research and survey also find a number of drivers for corporates’ being green including: image,
cost savings, competitive advantage, employee satisfaction, innovation, new sources of revenue
or cash flow, effective risk management, and shareholders relations (Patti & Phillips, 2010). The
cost for green initiatives will be easily compensated by other benefits the companies get from
being green, by both visible and invisible benefits, as well as short term and long term benefits.
Green movement is critical for individual business, the community and the globe. Sooner or later
each enterprise regardless of scale and country will conduct sustainability measures in response
to environmental concerns. No matter what drivers their being green, it does good for itself and
the earth, thus, the green movement should be further multiplied and supported by various
stakeholders.
Reference:
Clarke, R.A. et al., 1994. The Challenge of Going Green. [Online] Harvard Business Review
Available at: https://hbr.org/1994/07/the-challenge-of-going-green [Accessed 9 February 2017].
11

Lallanilla, M., 2016. The History of the Green Movement. [Online] Green Living Available at:
http://greenliving.about.com/od/greenprograms/a/What-Is-The-Green-Movement.htm [Accessed
9 February 2017].
Patti & Phillips, J., 2010. Why it's time for businesses to go green. [Online] The Guardian
Available at: https://www.theguardian.com/sustainable-business/blog/time-businesses-go-green-
roi [Accessed 9 February 2017].
Spors, K., 2012. Business, Not Government, is Leading the Green Movement. [Online] Available
at: https://smallbiztrends.com/2012/07/business-not-government-leading-green-movement.html
Is culture an important factor for globalization? Why?
Globalization was considered to create a “borderless world” (Ohmae, 1991). However, this
perspective was proven inappropriate overtime and culture is often quoted as a strong evidence
against that borderless world. It is undeniable that culture is an important factor for globalization.
The first reason is culture is certainly older than globalization. While globalization seemed to
appear thousands of years ago and has rapidly developed since 1950, culture was born longer as
it is defined as the ways of living, i.e. set of shared values, traditions, beliefs, ideas, attitudes, and
symbols which characterize national, ethnic, and other groups and orient human being’s
behaviours (Belshek, 2004). Thus, every step of globalization will be immediately affected by
the culture. For instance, a community tends to prefer to travel to a particular direction or land
due to their traditional thinking and relationship, etc.
The globalization brings people, community, and nations closer. Nevertheless, each of them is
still surrounded by their own characteristics and national identity, or culture. Ignoring such
differences in culture will easily cause misunderstanding, mistakes, and even erode the
relationship among people, businesses and nations (Meyer, 2015). Clearly, the Orientals and the
Western have distinct features; the White and the Black do not share the same culture. Geert
12

Hofstede has distinguished basic culture differences through his six cultural dimensions as below
(Hofstede, 2011):
 Power distance: related to different solutions to basic problems of human inequality;
 Uncertainty avoidance: responses to stress level in an unknown culture;
 Individualism vs. Collectivism: the extent of individual integration in a community;
 Masculinity vs. Femininity: division of emotional roles among men and women;
 Long-term vs. Short-term orientation: choice of focus in the future;
 Indulgence vs. Restraint: gratification vs. control of basic human desires in terms of life
enjoyment.
For instance, comparing Australian and Japan against Hofstede’s cultural measurements, people
can realize differences in every cultural aspect, from which wiser decisions can make towards
business etiquette, correspondence, ways of behavior and business doing, etc.
Figure 1: Hofstede’s Cultural Dimension between Australian and Japan
Source: https://geert-hofstede.com/australia.html
In conclusion, the international business in a globalized world is not simply signing contracts and
delivering goods and services across borders. It goes far beyond that in the sense that the cultural
13

understanding will definitely promote the acceptance, appreciation, thus avoiding unnecessary
blunders and fostering international relations, peace and prosperity on the higher level (Hummel,
2009).
Reference:
Ch., M.A., Faheem, M.A., Dost, M.K.B. & Abdullah, I., 2011. Globalization and its Impacts on
the World Economic Development. International Journal of Business and Social Science, 2(23),
pp.291-97.
Hofstede, G., 2011. Dimensionalizing Cultures: The Hofstede Model. International Association
for Cross-Cultural Psychology, 2(1), pp.3-26.
Hummel, D.L., 2009. Why Culture is Important in International Business. [Online] Universal
Concensus Available at: https://internationalhrforum.com/2009/06/08/why-culture-is-important-
in-international-business/ [Accessed 9 February 2017].
Meyer, E., 2015. When Culture Doesn’t Translate. [Online] Harvard Business Review Available
at: https://hbr.org/2015/10/when-culture-doesnt-translate [Accessed 9 February 2017].
Ohmae, K., 1991. The Borderless World: Power and Strategy in the Interlinked Economy. 1st ed.
Fontana.
Website: https://geert-hofstede.com/australia.html, [Accessed 9 February 2017]
“Dirty money” obtained through drug trafficking, gambling, and other illicit activities use
offshore financial centers to escape the same thing as respectable “clean capital”. As senator
what sort of regulations do you support?
Dirty money is considered illegal money, which is obtained through illicit activities and turned
into “clean capital” often through offshore financial centers. This process refers to money
laundering. Many organizations and financial institutions have struggled hard with money
laundering issues. These following regulations are supported by me as a senator:
14

 Setting up a Monetary Authority which includes exclusively functional departments to
combat money laundering and foster enforcement. For example, the Monetary Authority
of Singapore (MAS), the central bank of Singapore has set up and operated an anti-
money laundering department since 1st August 2016. The bank also founded a dedicated
supervisory team to monitor risks and conduct on-site inspections of financial
institutions (Vasagar, 2016).
 Due to the transnational nature of money laundering and terrorist financing (Government
of Canada, 2015), the government should continuously review and launch innovative
measures to stop tax evaders, money launderers and terrorists from trying to enter the
financial system. For instance, the United States of America (USA) has amended the US
Bank Secrecy Act to compulsorily require the verified identity of company owners and
control companies opening accounts with them instead of hiding behind representatives
or lawyers. The USA would also close a loophole to prevent the foreign people from
hiding assets in US accounts (Jopson, 2016).
 Institutions should apply strict Customer Due Diligence (CDD) and high transparency
level, following the International Standards on CDD which have been set by Basel
Committee on Banking Supervision (Basel Committee) and the Financial Action Task
Force (FAFT). This regulation is extremely useful whenever any money laundering or
terrorist activity is suspected. The steps of CDD measures include appropriately
verifying customer identity, collecting information customer’s purpose, identifying
business relationship nature, etc. (IMF, 2000).
Reference:
Government of Canada, 2015. Canada's anti-money laundering and anti-terrorist financing
regime. [Online] Government of Canada Available at: http://www.fintrac-canafe.gc.ca/fintrac-
canafe/antimltf-eng.asp [Accessed 9 February 2017].
IMF, 2000. Anti-Money Laundering/Combating the Financing of Terrorism - Topics. [Online]
International Monetary Fund Available at:
https://www.imf.org/external/np/leg/amlcft/eng/aml1.htm [Accessed 9 February 2017].
15

Jopson, B., 2016. US launches new attack on dirty money. [Online] Financial Times Available
at: https://www.ft.com/content/b25fa4c0-131f-11e6-bb40-c30e3bfcf63b [Accessed 9 February
2017].
Vasagar, J., 2016. Singapore steps up money-laundering fight in wake of BSI probes. [Online]
Financial Times Available at: https://www.ft.com/content/dafeabcc-31f3-11e6-bda0-
04585c31b153 [Accessed 9 February 2017].
Compare and contrast two countries and see how their international policy has changed the
future of their country. (i.e.: North Korea and any other country).
International policy plays a critical role in determining the business environment and the future
of a nation. An inward or outward policy will generate different outcomes. This section
compares and contrasts two countries, North Korea (NK) and South Korea (SK) in terms of the
international policies and their impacts. The comparison is made in the following aspects:
Overview of international/foreign policies of:
NK: When Kim Jong-un became NK’s President, he has established a Kim regime which
stressed that the world should not expect any change from him. The evidence is shown by the
old-fashioned foreign policy of NK which tends to close doors against other countries in the
world. He even tightened the border control with China to decrease the flow of NK defectors
although China is the key economic support provider for NK people. Kim also fired people he
suspected to be no longer loyal, invested heavily on the armed force and military to be well-
prepared for a missile, nuclear development and another war with SK, and even with the US, and
Japan (Oh, 2013). In summary, the foreign policy of NK obviously contrasts the peace efforts
and globalization process which is developing rapidly in the world today.
SK: SK’s foreign policy aims to promote the international relations with China, Japan, the US
and European Union (EU) while maintaining a more balanced approach towards NK. SK is well
aware of the importance of NK as a neighboring country and around the Korean Peninsula issue.
Meanwhile, being American’s closer ally means that SK has to take into consideration the US’s
16

tough policies towards NK. In addition, the SK- China-Japan regional cooperation is emphasized
by SK as well. SK is also a critical economic partner with the EU, particularly after the signing
of the EU-Korea Free Trade Agreement (FTA) in July 2011 (Szczudlik-Tatar, 2013). Obviously,
the foreign policies of SK are clever and open, which keeps good pace with the current
globalization process.
Impacts on countries:
NK: Two much investment on the military while ignoring the real demand of the citizens and
constraining the open-door trading opportunities with other countries in the world has made NK
a seemingly isolated country. Tourists before had very difficult access to visit NK but have got
better chances to travel to this country. The citizens are generally poor, hungry and have no
political power while the Kim president and the top political elites are rich and luxurious (Jang-
yop, n.d). Regarding the relations to other countries, the US has put more pressure on NK to stop
its nuclear and missile programs. Even China and its neighboring country, SK are not in favor of
NK policy and are still waiting for the Kim regime to reform (Oh, 2013). However, it seems that
the change is impossible to change, at least in a short and medium time. NK’s only constraint is
not America but China as it fears that China may remove all economic support for its residents.
SK: SK is a more developed than NK in all terms of economics, diplomacy, business
environment, and even military affairs due to its affordability to invest for much more modern
and the best America – supplied weapons and equipment (Blair, 2015). SK is currently one of the
top tourist destinations with much higher Gross Domestic Products (GDP) and GDP per capita,
developed markets, larger foreign direct investment and especially much significant image and
influential power in the world compared to NK.
The following figure compares some key indicators of SK vs. NK:
17

Figure 2: NK and SK comparison
Source: (The Guardian, 2014)
18

Reference:
Blair, D., 2015. North Korea v South Korea: How the countries' armed forces compare. [Online]
Telegraph Available at:
http://www.telegraph.co.uk/news/worldnews/asia/northkorea/11603665/North-Korea-v-South-
Korea-How-the-countries-armed-forces-compare.html [Accessed 9 February 2017].
Jang-yop, H., n.d. Testimonies of North Korean Defectors. [Online] Available at:
https://fas.org/irp/world/rok/nis-docs/hwang6.htm [Accessed 9 February 2017].
Oh, K., 2013. Understanding North Korea. [Online] Foreign Policy Research Institute Available
at: http://www.fpri.org/docs/Oh_-_North_Korea.pdf [Accessed 9 February 2017].
Szczudlik-Tatar, J., 2013. The New South Korean President’s Foreign Policy Directions.
Bulletin, 21(474), pp.1-2.
The Guardian, 2014. South v North Korea: how do the two countries compare? Visualised.
[Online] The Guardian Available at:
https://www.theguardian.com/world/datablog/2013/apr/08/south-korea-v-north-korea-compared
19

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