course material

1. Since the end of World War II, globalization of world
Since the end of World War II, globalization of world markets has been increasing.The main
characteristics of globalization include free flow of goods and services(International trade),
and capital (foreign direct investments), less government intervention,and regional and
global integration. In addition, globalization is strengthened by cross-national cooperation
(e.g., the European Union) and institutions such as the World TradeOrganization, the World
Bank, and the International Monetary Fund. Globalization is supportedby the argument that
international trade and foreign direct investments result in a betterallocation of
resources.In the last few years however, the effectiveness of international trade and foreign
directinvestments has been challenged as a growing number of governments have been
questioningthe benefits of free flow of goods, services, and capital. In particular, the United
Kingdom hasleft the European Union (Brexit), the North American Free Trade Agreements
(NAFTA)has been revised, COVID-19, and the invasion of Ukraine by Russia, are events that
havehighlighted the potential risks of relying on international trade and foreign
investments. As aresult, trade and investment sanctions have been imposed on some
countries for politicalreasons, supply chains for critical products have been disrupted, and
multinational enterprisesare under increasing pressures to reduce their operations in
foreign nations and invest more intheir home countries.Question: Do you favor
globalization of world markets?citeinside your answer (e.g.: MacMillan, 2022) two or more
recent articles (no older than 2020)from business periodicals such as Business Week,
Forbes Magazine, Fortune Magazine, WallStreet Journal, Financial Times, or any other
relevant popular press (no textbook, Wikipedia, oracademic journal). At the end of your
answer, provide complete references of the articles cited(use any acceptable style if it is
complete).