IBT DB#2

What are some underlying factors that are causing decoupling to happen as societies move
from a unipolar to a multipolar world? In your opinion, in which direction is the balance of
global economic power shifting? And is it good for the world economy?

On a global scale, decoupling refers to the change in which emerging countries that depend
primarily on industrialization are pushing their economies, rather than those of highly
industrialized countries, based on their own underlying economic capabilities. Similarly, as
societies move from a unipolar to a multipolar world in which both developed and emerging
market economies are the drivers of growth in the world economy, a number of substantive
factors may cause decoupling to occur. For example, better access to technology procurement as
it becomes more available, middle-class growth, and the expansion of assistance from major
organizations and financial institutions. From my view, I agree that the world economy is
changing the balance of global economic influence as it moves from the United States to
developed countries. In this way, in emerging nations, a whole wave of technology and power
has emerged, allowing those countries to move forward alongside the developed world.

What are some of the major economic reform themes that are common to the three
international organizations promoting globalization?

As regulatory controls rise, there can be distortions created by business failure. Economic policy
deregulates or decreases the scale of the government to eradicate this, in order to remove
distortions created by legislation or government involvement. There are three globalization-
promoting multinational bodies - World Bank, World Trade Organization (WTO) and
International Monetary Fund (IMF). The World Bank has likewise aided in the growth of
financial markets. As with the WTO, the liberalization of the trade system has been promoted.
The International Monetary System was implemented by the IMF, which allowed countries and
their residents to buy goods and services from one another. In a nutshell, all three organizations
help foster globalization and inspire countries to join, educating them through the provision of
laws and regulations.

Globalization can be facilitated only if national governments are willing to participate in

that process. What roles can the three major international institutions play to be a part of
this facilitation process?

Globalization, by definition, is an increasing interdependence between the economies, societies,

and communities of the planet, triggered by cross-border trade in products and services,
technologies, investment, individuals, and knowledge flows. However, that can only be
accomplished with the involvement of national governments, provided that it facilitates and
increases connections between various regions and peoples across the globe. That being said, it is
possible to teach the three main foreign organizations the enduring benefits of globalization.
They extend assistance to national governments by urging them to establish adaptive trading
structures and, at the same time, to enhance their accountability and law enforcement—although
this will encourage countries to strengthen their effectiveness and interdependence, allowing
them to globalize. Overall, they are helping to strengthen countries in order to give them the
courage to partake in globalization. Overall, they are helping to strengthen countries in order to
give them the courage to partake in globalization.

While domestic institutions play an important role in the globalization process, what are
some of the fundamental policy measures that those countries need to promote in order to
benefit from globalization? How might these policies be implemented and promoted?

For countries to benefit from globalization, they must enforce sound economic policies that will
promote global trade and attract local and foreign investments. Administering the following
policies will make globalization sustainable for every country.

GOOD GOVERNANCE. It is important for every country to implement good governance for
them to successfully adapt to the effects of globalization. And foreign investors will channel the
resources of the country with transparent policies and efficient administration. Therefore, these
resources can be used to sustain an aid to a country's economic growth and adapt to
globalization. Thus, in order to achieve good governance, a country should incorporate high-
quality and responsive government, competent and accountable public servants, and transparent
and effective policies.

COMPETITIVE MARKETS. Countries that embrace free market economies are more likely to
have competitive markets. Competitive market economies. It guarantees that the best goods and
services are being offered to consumers at a cheaper price. It also contributes to the country’s
enhanced productivity, economic growth, and transparency. Therefore, for countries to have
competitive markets, They should impose regulations such as antitrust laws that lab only
promote free competition in the market but also protect the customers from predatory business
practices.

PROPERTY RIGHTS. One key policy to utmost utilize globalization is to strengthen property
rights protection or law since it is vital in facilitating the economic transactions between the
firms and households which must be built on trust and commitment to be able to maintain a
mutually benefiting relationship in the long haul thereby allowing a healthy and globally
competitive economy.

ANTI-CORRUPTION POLICIES. The increasing number of corruption violates the different

sectors of the society. Pursuing self interests lead to inefficient and misallocation of funds,
breach of service to the interest of the general public, or a certain risk and secrecy, and defeated
economy. Thus, furthering laws on anti-corruption would definitely help in promoting honesty
and building trust among its people, sustaining the economy and making a positive impact with
international relationships.

Do you believe that there is a “digital divide” in the global economy? Is globalization
narrowing that gap? If so, how?

In terms of access to computing and information services such as the Internet and the benefits
gained from such access, the global digital divide defines global inequalities, specifically
between developed and emerging countries. Like a smaller unit of analysis, this disparity
describes an imbalance that occurs, relating to a global scale.

The digital divide is expanding at an alarming rate with advanced and emerging countries,
brought on by globalization, moving rapidly to exploit new opportunities created by technology.
For years, the "digital divide" in terms of Internet access was loosely defined. Today, however, it
expresses itself in the way corporations in rich countries use technology to reinforce their
influence over global supply chains and to extract a greater share of the value added generated in
developed countries.

Technology is starting to revolutionize how the world economy works, from cloud computing to
artificial intelligence. Yet, as many emerging countries are enriched by these changes, the
developed world is at risk of being left behind. In several areas of the developed world, new
infrastructure has also been put to good use. Data-driven farming practices help farmers produce
higher yields, while mobile financing increases economic participation in deprived communities.
But in order to keep developed nations from falling behind in the world economy, these
developments may not be enough. In order to boost the economic conditions of the global South
and prevent worsening inequalities, policymakers in developed countries must take seriously the
effects of these changes for their economies and the role of their countries in the global
economy.