One of the benefits of globalization is the rise in living standards of people in countries around the world. The dynamic structure of the global economy as a result of globalization has influenced the macroeconomic policies in the world towards the realization of even greater globalization benefits. Some of the key policy making bodies that have been impacted include; the academic economists, the national policy making bodies, the general policy making community and the International Monetary Fund (IMF). The worldwide economic changes as a result of globalization have influenced the way in which the IMF works including numerous multilateral institutions. For instance, the role of the IMF changed in the 1970s when the Bretton Woods system which dictated fixed exchange rates among the industrial countries came to an end. In the more recent years, the global economy performance and the functioning of the IMF have been influenced by myriad factors such as; the downfall of communism, financial crises in rapidly-growing market economies, rise in size and significance of private capital flows as well as a better comprehension with regards to management of macroeconomics. As a member of the global village, and the sole African G8 member, South Africa has been affected by all the changes that have taken place. South Africa re-joined the scene of international economy in the 1990’s during which time globalization had started to gain prominence. In addition to adjusting to the demands of the globalization forces, South Africa had to cope with its status as an emerging market. The policies implemented enhanced economic globalization at both national and international levels by allowing for liberalization of investment, finance and trade. The above led to increased competition and speculation between the economies of various countries and South Africa was no exception. Globalization led to the economic growth of South Africa during the period between 1990 and 2000. There is a distinct integration of the South Africa’s economy with the world economy judging by the difference between the GDP and the GNP. The measure of this difference compares the payments the country has made to the foreign owned factors of production which operate in the country to those received by domestic owned production factors that operate overseas. The divergence of the two measures indicate that before South Africa became a player in the world economy, its economic output was geared toward dominance by foreign-owned companies before going through a period of stagnation during the mi-eighties. After engagement in the world economy however from the 1990’s, South Africa has seen a move towards the foreign-owned corporations contributing more in terms of economic output. According to Loots, the country is impacted by globalization through its import-export trading activities, its net Foreign Direct Investments (FDI) inflows and its net portfolio inflows. Upon application of the Pearson Correlation test to determine the relationship between economic growth and the other independent variables, it was established that there is a positive 0.944 correlation between the economic growth and trade. Trade, comprising of both import and export activities, is an important component of the industrialization process. Globalization and industrialization in South Africa It is impossible to discuss trade away from industrialization and vis-à-vis. Through industrialization, trade both local and international is made possible. The apartheid policies which were instituted to govern the country’s industries before its independence resulted in international sanctions and other protectionist policies that negatively affected South Africa’s manufacturing segment. The industrial firms were isolated from the global economy forcing the manufactures of the country’s economy to produce solely for the country’s domestic market. These policies also discouraged small and medium
Report of Paper Topic
You are expected to read the requirement of term paper (you can find the document of term paper in dropbox) and decide a topic of your own paper. Please upload your answers to dropbox under “paper report” by Dec. 1.
1. There are many different opinions pertaining to the criminal justice system in the united states. A common opinion is that the system has both pros and cons. The system is both good and bad based on several different things. Personal experience can have…
of authority, control, or ownership, as the head of a household: "Thirteen years had seen her mistress of Kellynch Hall" (Jane Austen).
a. A woman who owns or keeps an animal: a cat sitting in its mistress's lap.
b. A woman who owns a slave.
4. A woman with ultimate control over something: the mistress of her own mind.
a. A nation or country that has supremacy over others: Great Britain, once the mistress of the seas.
b. Something personified as female that directs or reigns: "my mistress…
develop their talents. Each school has a strong discipline code and staff provide high quality pastoral care and support. The student welfare team includes the international student coordinator, year adviser, school counsellor, careers adviser and English as a Second Language support teachers and provides ongoing assistance for your child.
Great study locations
a diverse landscape of urban and rural communit ies
Sydney, the capital city of New South Wales, is located on Australia’s east coast…
and the other party accepts it (4) The United Nations Contract for the International sale of goods imposes no specific requirement that contracts have to be stipulated in writing or any other specific form and a contract can be wholly or partially in oral form under (Article 11) (5). When Bitterand a French distributor of educational material met Mr. Townsend an American manufacturer of an English learning computer software program Anglianlingua at a teaching English as a second language seminar. During…
Time is the most important factor in our life and the most frequently used term. It is one of the basic lessons of learning English. While taking spoken English classes or to learn writing the English you are taught to write and tell the time in the English at the very first lessons.
For non-native speakers it seems difficult to remember, telling the time but with a little practice, you can easily conquer this concept.
In this article, we will discuss all the rules of telling or writing time one-by-one…
English Language Admission
English is the primary language of instruction at UBC. All prospective students are
required to demonstrate a minimum level of English before they’re admitted.
to meet UBC’s minimum English Language Admission Standard
for an undergraduate program. If you do not meet this requirement, you may be
interested in one of our
academic English development programs
There are nine ways to meet this requirement
1. Complete three or m…
Introduction: The term ‘English’ is derived from the surname ‘Angle’, the name of a Germanic tribe which is thought to be originated from the Angeln area of Jutland, a part of northern Germany. In fact, Germanic people invaded Britain and settled there in the fifth century A. D., and, thus, Britain became the main originating source of English language. Shorter Oxford English Dictionary defines the term ‘English’ as ‘the language spoken by the Germanic invaders of Britain in the 5th cent. A. D. Now…
Same interest to teach English as a foreign language
2. Do you know what context you will be teaching in after you finish the course?
If I get the job I have applied for I will endeavour to teach in the following context:
Lessons in a group
B. The learners’ culture, linguistic and educational backgrounds
1. Think about why you…
Late Modern English, a global language spoken around the world by over 2 billion people can trace its roots to the Germanic language introduced by Anglo-Saxon invaders in the 5th century. Before the arrival of the Anglo Saxons, many parts of Britain were bilingual Celtic-Latin speakers, although very few traces of Celtic remain in the English language – other than in place names, for example Avon and Ouse – which derive from the Celtic word for ‘water’, and words found more in local dialects than…
Washington had four cabinet members
1. Secretary of State: Thomas Jefferson
2. Secretary of Treasury: Alexander Hamilton
3. Secretary of War: Henry Knox
4. Attorney General: Randolph Edmund
There are 16 Cabinets members
1. Vice President: Joseph R. Biden
2. Department of State: Secretary John Kerry
3. Department of the Treasury: Secretary Jack Lew
4. Department of Defense: Secretary Chuck Hagel
5. Department of Justice: Attorney General Eric H. Holden, Jr.
6. Department of Interior: Secretary Sally…