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…
6 April 2014
In essays “Living in Spanish” by Marjorie Agosín and “Mothers Tongue” by Amy Tan, the narrators both experience the struggle of language and its barriers in America. In their essays, they explain that having the capability to speak proper English and assimilate themselves to American customs were ways of surviving in the US. Although there were many obstacles and challenges faced when adapting to America, they did not dismiss their true…
English 2 Essay
Knowledge is power! In 1953 Ray Bradbury’s book Fahrenheit 451 was published. Fahrenheit 451 is about an ignorant, inconsiderate, indifferent firefighter named Guy Montag. Montag is living a joyful stress free life. He has a wonderful life, wife, and job! Until he starts interacting with his new neighbor Clarisse and a retired English professor Faber. Montag realized that Clarisse and Faber were…
Journal #4 (ONLY #1)
English 1A Honors
Dr. Bonnie Khaw-Posthuma
Sheep Can’t Speak if they Never Think
In the book 1984, George Orwell expresses many lessons and morals he wishes to convey to the audience. One very prominent lesson seen in 1984 is the simple, rebellious action of “question authority”. Orwell consistently displays this lesson by portraying the characters as ignorant, brainwashed and blind. Big Brother, the government in place, possesses an immense amount…
8 December 2014
Good vs. Bad
Being proposed with the question of what is good writing and what is bad writing threw me off guard. This question could be answered in many different ways, some simpler than others. Writing has little to do with skill, but more with perseverance and the person that it comes from. Simply put, good writers keep going while bad writers seem to quit at the sign of a road block.
There is no real definition of what good writing…
2 December 2013
Minimum Legal Drinking Age
Legislators in the United States rose the drinking age to 21 in all 50 states driven by an interest group named Mothers Against Drunk Driving (M.A.D.D.), however exceptions do exist on a state-by-state basis for drinking on private property, under adult supervision, and other reasons. Supporters of M.A.D.D. suggest that with the recent drinking age change thousands of lives have been saved. Opponents of the Drinking…
English Grammar Terms
1.Noun: the name of a person, place, thing, or idea.
2.Common noun: anyone of a general class of people, places, things, or ideas.
3.Proper noun: the name of a special or specific person, place, thing, or idea.
4.Collective noun: a word that means related groups.
5.Compound noun: two words that mean are joined together as one.
6.Abstract noun: an idea or feeling that you can’t touch.
7.Concrete noun: a noun you can touch.
8.Pronoun: a word that takes the place of a…
names as they walk in door to record successfulness.
Evaluate activeness of game, ensure everyone is comfortable and being involved.
Steps of your plan
Timeframe/ Date of completion
Make most effective date and time for game.
Start of term; discuss with Mr. Reck any other sport events on, year level sport days and his recommendation on when the most convenient time for students will be.
1 week to confirm – 08/10/2014
Initialise system of game: rules etc
Discuss with group, create a…
Ms. Christine Walsh
3 December 2012
As the “melting pot” of the world, the rich and unique culture of the United States can be attributed to the fusion of traditions and values brought by the waves of immigrants who sought to attain the American dream. President John F. Kennedy once remarked in his book A Nation of Immigrants that “every ethnic minority, in seeking its own freedom, helped strengthen the fabric of liberty in American life...We see…
Prof. Alex Green
English 04: Composition
March 4, 2015
You wake up one morning and you realize that you are about to leave your family, your friends, your home, for another life as a college student 7000 miles away in the United States of America, and knowing that this change would affect my future. It wasn’t an easy decision for me to leave the Philippines, and I had always questioned myself whether I made the right decision to study abroad. Growing up, I have learned to…