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C211OA
view
that
claims
phenomenon
of
globalization
was
initially
driven
by
the
desire
of
Western
economies
to
exploit
their
power
through
MNE's
-
ansnew
view
that
claims
globalization
is
a
long-run
historical
evolution
since
the
dawn
of
humanity.
Says
it
is
nothing
new
and
that
it
will
always
exist
-
ansevolutionary
view
that
claims
globalization
is
swinging
from
one
extreme
to
another
from
time
to
time
-
anspendulum
investment
in,
controlling,
and
managing
value-added
activities
in
other
countries
-
ansforeign
direct
investment
political
view
hostile
to
FDI.
believes
it
is
an
instrument
of
imperialism
and
vehicle
for
exploitation
of
domestic
resources
by
foreign
capitalists
and
firms
-
ansradical
suggests
that
FDI,
unrestricted
by
government
intervention,
will
enable
countries
to
tap
into
their
absolute
or
comparative
advantages
by
specializing
in
the
production
of
certain
goods
and
services
-
ansfree
market
views
FDI
as
having
pros
and
cons
and
only
approving
FDI
when
its
benefits
outweigh
costs
-
anspragmatic
nationalis
what
benefits
exist
to
a
country
receiving
FDI?
-
anscapital
inflow,
technology
spillovers,
advanced
management
know-how,
creates
jobs
what
costs
exist
to
a
country
receiving
FDI?
-
ansloss
of
sovereignty,
adverse
effects
on
competition,
net
outflow
in
the
capital
account
The
aggregation
of
importing
and
exporting
that
leads
to
the
country-level
trade
surplus
or
deficit.
-
ansbalance
of
trade
firms
with
a
_____
degree
of
resource
similarity
are
likely
to
have
similar
competitive
actions
-
anshigh
a
high
degree
of
resource
similarity
but
low
market
commonality
=
_______
intensity
of
rivalry
-
anshighest
little
resource
similarity
but
high
market
commonality
=
_____
intensity
of
rivalry
-
anslowest
mercantilism,
absolute
advantage
and
comparative
advantage
belong
to
what
theory
of
international
trade
-
ansclassical theory
of
international
trade
that
relies
on
more
realistic
product
life
cycles
and
first
mover
advantages
-
ansmodern
under
free
trade,
a
nation
gains
by
specializing
in
economic
activities
in
which
it
has
_____advantage
-
ansabsolute
focuses
on
the
idea
that
if
a
country
does
not
have
absolute
advantage,
they
can
still
choose
to
specialize
in
the
production
of
one
good
where
it
has
______
advantage
-
anscomparative
comparative
advantage
and
absolute
advantage
stem
from
-
ansfactor
endowments
theory
that
the
wealth
of
the
world
is
fixed
and
that
a
nation
that
imports
more
and
exports
less
will
be
richer
-
ansmercantilism
stage
of
the
product
life
cycle
where
production
of
a
new
product
that
commands
a
price
premium
will
concentrate
in
the
US
-
ansnew
stage
of
the
product
life
cycle
where
demand
and
ability
to
produce
grow
in
other
developed
nations
-
ansmaturing
stage
of
the
product
life
cycle
where
the
previously
new
product
is
commoditized
and
production
will
now
move
to
low-cost
developing
nations
-
ansstandardized
comparative
advantage
may
change
over
time
because
patterns
of
______
change
over
time
-
anstrade
theory
that
suggests
that
intervention
by
governments
in
certain
industries
can
enhance
their
odds
for
international
success
-
ansstrategic
trade
if
a
company
seeks
to
limit
foreign
exchange
rate
exposure
in
the
forward
direction,
what
is
the
most
effective
way
to
do
this?
-
anscurrency
hedging
exchange
rate
risk
associating
with
the
time
delay
between
entering
a
contract
and
settling
it
-
anstransaction
risk
forward
transaction
that
protects
traders
and
investors
from
exposure
to
fluctuations
of
the
spot
rate
-
anshedging
a
means
of
spreading
out
activities
in
different
currency
zones
in
order
to
offset
the
currency
losses
in
certain
regions
through
gains
in
other
regions
-
ansstrategic
heding
amount
of
resources
committed
to
entering
a
foreign
market
-
ansscale
of
entry
how
do
institutions
reduce
uncertainty?
-
ansby
signaling
which
conduct
is
legit
and
which
is
not
pillar
of
formal
institution,
coercive
power
of
government
-
ansregulatory
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