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The Following That Characterizes the Shift to a Global Rather

question 62

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The following that characterizes the shift to a global rather than a national outlook is:


Definitions:

Trade Deficit

The situation when a country imports more than it exports.

Economic Dependency

The condition of relying heavily on another economy for support, goods, services, or financial aid.

Income Distribution

How a nation’s total GDP is distributed amongst its population, affecting economic inequality.

Global South

A term used to describe countries considered lower-income and predominantly situated in the Southern Hemisphere, often focusing on their development challenges.

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