Globalization must be expected to influence the distribution of income as well as its level. So far as the distribution of income between countries is concerned, standard theory would lead one to expect that all countries will benefit. Economists have long preached that trade is mutually beneficial, and most of us believe that the experience of widespread growth alongside rapidly growing trade in the postwar period serves to substantiate that. Similarly most FDI goes where a multinational has intellectual capital that can contribute something to the local economy, and is therefore likely to be mutually beneficial to investor and recipient. And a flow of capital that finances a real investment is again likely to benefit both parties, since the yield on the investment is expected to be higher than the rate of interest the borrower has to pay, while that rate of interest is also likely to be higher than the lender could expect at home since otherwise there would have been no incentive to send it abroad. Loose talk about free trade making the rich countries richer and poor countries poorer finds no support in economic analysis.
Answer:
Philip II’s accomplishments originated him as a very well known king. Philip II was a hard-working ruler who was ushered in the Golden Age of Spain, being the most powerful nation. He was the most powerful monarch, he also helped the Catholic Church persecute Protestants during the Counter-Reformation. His father, Charles V, ceded the duchy of Milan (1540), the kingdoms of Naples and Sicily (1554), the Netherlands (1555), and Spain and its overseas empire (1556) to Philip II. In 1556, Phillip II made his first major decision as a monarch for his country. There was a Protestant uprising in the Netherlands, in 1567, he sent the Spanish army to put them down. Philip made use of the Spanish Inquisition to control his people. The Spanish Armada of 1588 was an attempt by Phillip of Spain to conquer England. Phillip, who had been married to Queen Mary, was angry that her sister, Queen Elizabeth had refused his proposal of marriage, he was also infuriated that England had returned to Protestantism. Phillip planned an invasion of England; he would send his Spanish Armada of 131 ships and 17,000 men to France. Here his armada would collect a further 16,000 Spanish soldiers who had been fighting in Holland. The fleet was then to cross the English and defeat the armies of Queen Elizabeth's England.
Explanation:
Challenges that Italy faced after unification.
Following Italy unification in 1861 the nation suffered from economic imbalance between north and south, the absence of education systems, lack of raw materials and the great cost of unification itself. Italy faced this challenges but still made great development progress in the future years.
Answer:
b
Explanation:
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Major federal programs and agencies included the Civilian Conservation Corps (CCC), the Civil Works Administration (CWA), the Farm Security Administration (FSA), the National Industrial Recovery Act of 1933 (NIRA) and the Social Security Administration (SSA).
