Macroeconomics 9th Edition by David Colander

Exercise 27

The brief argument for globalization goes something like this.ountries that trade a lot grow quickly and poverty rates decline in rapidly growing countries.herefore, glo­balization promotes rapid growth and alleviates poverty and is far superior to economic isolation.adicals believe that the globalization debate is not about economic isola­tion vs.ntegration into the world economy; rather, the real debate is about what policies allow a developing econ­omy to successfully engage with the world economy.he advocates' case tells us about a country's degree of engage­ment with the world economy but not the manner of that engagement.rom the radical perspective, knowing that international trade and faster economic growth rates are positively correlated hardly constitutes an endorsement of the neo-liberal policy of lower barriers for trade and the movement of international capital.
a.ow should a developing economy engage with the global economy: through free trade and financial liberalization policies
b.ould the strategies promoted by the opponents of globalization-more national control and limits on the movement of foreign and domestic capital-be better polices for engaging with the world economy (Radical)