Homework SoursehttpswwwyoutubecomwatchvBPt8ElTQMIg Links to an external sit
https://www.youtube.com/watch?v=BPt8ElTQMIg (Links to an external site.)
Describe some of the major conclusions developed by the authors of the video regarding world economic growth over the last 200 years. Tell me your ideas about new converging world.
Explain in one page
Solution
Answer:
In the previous 200 years there has been monetary development, longer life expectancies and less neediness. The statistical evidence shows a positive co-relation between the economic growth and international trade. The reduction of trade barriers and good infra-structure contributed to the growth of international trade. Since the early 19th century the economy of world has experienced a substantial improvement in people’s command over resources.
The average GDP per capita of the population of world since 1820 has increased more than tenfold. But this increase has benefitted very unequally among different parts of the world. Until the mid-20th century, the more developed countries grew much more rapidly compared to poorer regions, contributing to the considerable rise in inequality of income between countries. Anyway destitution isn\'t predetermination, and there have been dynamite advances from neediness to extravagance of a few nations throughout the most recent 200 years.
Today\'s new converging world provides enormous efficiency increases, from both personal and business perspectives, expansion of consumer choice, convenience, efficiency, lowering costs and boosting resource utilization rates. It is providing an increase to new intelligent products.
However with the benefits of new convergence come new rules and regulatory challenges, such as the intellectual property rights, protecting consumer interests (including competition laws), setting of manufacturing standards, controlling emerging cyber-crime, facilitating cyber-trade, decline in traditional jobs and other public concerns
