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The Global Economy Extensive Notes

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Clear, in depth notes on topic 1 of HSC economics. Very useful tool in building economics knowledge.

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8 Pages Partial Study Notes > 2 Years old
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The Global Economy Extensive Notes
Topics this document covers:
Economy Economic liberalization Chinese economic reform Economic history of the People's Republic of China Economy of China Economy of Asia Globalization Economic growth Gross domestic product Special Economic Zones of China Economy of Thailand Economy of India
This is a Partial Set of Study Notes

Partial Study Notes typically cover only single topics of a unit of study or do not cover multiple topics in significant detail. They are generally less than 20 pages in length.

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Topics this document covers:
Economy Economic liberalization Chinese economic reform Economic history of the People's Republic of China Economy of China Economy of Asia Globalization Economic growth Gross domestic product Special Economic Zones of China Economy of Thailand Economy of India
Sample Text:
Gross World Product (GWP) refers to the sum of total output of goods and services produced by all economies in the world over a period of time- measuring global economic growth. Indicators of Globalisation 1) Advancements in technology, transport and communications - Drive globalisation as they facilitate increased trade and financial flows. 2) Increased global trade - Trade is more volatile than global economic growth; annual growth in the value of trade = twice annual growth in GWP. 3) Increased financial flows (less than 10%) - Financial flows are short-term speculative international movements of money (less than 10%). - Fastest growing indicator of globalisation as money moves faster than goods or labour. - 95% transactions on Foreign Exchange (FOREX) markets are speculative →volatility of global FOREX ...
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