Facilitation of Globalization, Challenges Faced by EU, Quality Measures for Sustainable Globalization, and Corruption Ranking

Student Name 01 Mar 2019
1. Globalization can be facilitated only if the national governments are willing to
participate in that process. List each of the three international institutions and the
roles each one can play to be a part of this facilitation process?
The organizations that play to be a part for facilitating globalization includes (i) International
Monetary Fund (IMF), (ii) World Trade Organization (WTO), and (iii) World Bank (WB). The
IMF institution is based on mutual trust and agreement between the governments of more than
180 countries, as members. The relevant information demonstrating how globalization can be
facilitated are available on the official website. In particular it increases economic governance,
for example by promoting use of standards of practices for governance of public and private
sector as well as financial management. It recognizes the value of civil organization facilitate
collective action and support at grass root level. The developed framework ensures that the
member countries should be transmitted among each other to fight against money laundering and
strengthen the financial system at international level. WTO is another “global government”
having vast authority and power, and is linked with 134 member nations. This institution put
forward rule-based regime US policy measures to govern the economic globalization. These
policies can also be described as Democratic processes which ABS do expand the global
business enterprise and commercial interests of all types. Furthermore, the policies also work on
behalf of existing challenges for globalization, including the environmental protection, labor
rights, consumer and social right, human rights, and national sovereignty. Likewise, World Bank
is the largest financial institution providing the assistance for economic development at global
level. The objective of this institution is to provide technical and financial assistance, especially
in the developing countries to overcome challenges such as poverty, sustainable development
education and health services, as well as basic infrastructure. They also provide assistance via
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Student Name 01 Mar 2019
lone such that unrestricted foreign trade and international market can be possibly assessed by
developed as well as developing countries.
2. Although the European Union is the most advanced form of regional integration, it
is currently facing a challenging time. What are some of the major challenges
facing the EU?
European Union consisting of 28 member states is one of the unique partnership the drinks
harmonize the laws and policies, on diverse issues related to politics and economics. Despite of
the improvement in economic condition since 2017, did exist increase societal and economic
pressure due to rise of certain political parties are populists that have “euroskeptic” attitude.
Varieties of internal and external, the major issues which complicated economic condition in
European stability includes:
 The “Brexit agreement”, that results in two UK from EU.
 Issues related to law and democracy in Hungry, Poland, Greece, Ukraine and associated
EU member countries.
 Concern related to migration and societal integration.
 Resurgency issue of Russia.
 Increase the threat of global terrorism.
Across EU, the policy priorities are based on the above mention challenges, among which the
social status have high priority. In particular, the first priority is on the influx of refugees,
followed by the concern of increased unemployment rate. On the people’ agenda side, the
primary concern be focusing on the factors that can boost the economy. Further, down the line,
the concerning issues include fighting against terrorism and predicting the community members
as well as reducing sovereign debt to secure the financial situation of member states.
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Importantly, from the prospect of financial stability, EU is slow in applying the lesson learned
from financial crisis (Charron, 2016). For example, there exist only a single supervisor for the
banking union and a common EU rule for managing the banking issues; which can create
problem is any financial crisis appears in near future.
3. NAFTA has improved Mexico and US trade and investment, yet bilateral trade
between the United States and China is greater than with Mexico. Why is this true?
China and Mexico are the top trading nation with US, which have 15 and 17% of US global trade
volume, respectively. Comparing the difference between economies of the two nation, the prime
factor that enhances the trade between US and China is the labor charge. In particular, the labor
charge in Mexico is approximately three times higher than that of China, along with higher ratio
of experienced laborers for various sectors in China. it is also important to note that maximum of
the export from China comprises of products related to personal computers, food, household
consumption goods, intermediate as well as capital goods. On the other hand, the trade with
Mexico mainly comprises of manufactured cars, engine and machinery as well as food products.
However, the impact of tariffs from China over the import of goods from US is likely to have
minimal impact on the overall economy of US. This is the key negotiation factor that determines
the bilateral trade relationship between US and China, compared to that with Mexico. It is also
important to note that the increased export volume from US to China aids in annual growth for
import prices from 1.4% to current 3.1%, comprising of the overall consumer prices. Overall this
fact generate additional $600 billion annual income for US which is the major motivation for
extended trade relationship with China.
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