Does Globalization Mainly Aid the Poor or the Rich in the World

question 67

Essay

Does globalization mainly aid the poor or the rich in the world? Examine the merits of various perspectives on this question and indicate your own views on the existing evidence.

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Definitions:

Relevant Activities

Activities of the investee that significantly affect the investee’s returns.

Investee's Returns

Refers to the earnings gained from the investment in another entity, including dividends and value appreciation.

Single Economic Entity

A concept where a parent company and its subsidiaries are presented as one reporting entity in consolidated financial statements, ignoring the legal boundary that separates them.

AASB 10/IFRS 10

An Australian/international financial reporting standard that establishes principles for the presentation and preparation of consolidated financial statements when an entity controls one or more other entities.