Despite much loose talk about the new global economy, today’s international economic integration is not unprecedented. The 50 years before the first world war saw large cross-border flows of goods, capital and people. That period of globalization, like the present one, was driven by reductions in trade barriers and by sharp falls in transport costs, thanks to the development of railways and steamships. The present surge of globalization is in a way, a resumption (恢复) of that previous trend. The earlier attempt at globalization ended abruptly with the first world war. after which the world moved into a period of fierce trade protectionism and tight restrictions on capital movement. During the early 1930s, America sharply increased its. tariffs, and other countries retaliated (报复), making the Great Depression even greater. The volume of world trade fell sharply. International capital flows virtually dried up in the interwar period as governments imposed controls to try to ins
A. large cross-border flows of people
B. development of railways and steamships
C. sharp falls in transport costs
D. emergence of network
Despite much loose talk about the new global economy, today’s international economic integration is not unprecedented. The 50 years before the first world war saw large cross-border flows of goods, capital and people. That period of globalization, like the present one, was driven by reductions in trade barriers and by sharp falls in transport costs, thanks to the development of railways and steamships. The present surge of globalization is in a way, a resumption (恢复) of that previous trend. The earlier attempt at globalization ended abruptly with the first world war. after which the world moved into a period of fierce trade protectionism and tight restrictions on capital movement. During the early 1930s, America sharply increased its. tariffs, and other countries retaliated (报复), making the Great Depression even greater. The volume of world trade fell sharply. International capital flows virtually dried up in the interwar period as governments imposed controls to try to ins
A. earlier attempt
B. globalization
C. first world war
D. the whole preceding sentence
There is much discussion today about whether economic growth is desirable. At an earlier period, our desire for material wealth may have been justified. Now, however, this desire for more than we need is causing serious problems. Even though we have good intentions, we may be producing too much, too fast.
Those who criticize economic growth argue that we must slow down. They believe that society is approaching certain limits on growth. These include the fixed supply of natural resources, the possible negative effects of industry on the natural environment, and the continuing increase in the world’s population. As society reaches these limits, economic growth can no longer continue, and th9 quality of life will decrease.
People who want more economic growth, on the other hand, argue that even at the present growth rate there are still many poor people in the world. These proponents of economic growth believe that only more growth can create the capital
A. is essential to the well-being of society as a whole
B. can provide the solution to many of our social problems today
C. can protect our environment from being polluted by industry
D. can provide us with more natural resources for industrialization
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