In 2017, in a speech in China, Apple CEO Tim Cook stated that globalization is "great for the world ... I think the reality is you can see that countries in the world ... that isolate themselves, it's not good for their people." Source: Eva Dou, "Apple CEO Tim Cook Defends Globalization in China," Wall Street Journal , March 18, 2017.

Why would countries that isolate themselves rather than participating fully in the global economy be hurting their own people?

A. When countries isolate themselves from the global economy, they must specialize in producing only a few goods.

B. Countries that isolate themselves miss out on foreign investment and access to better technology.

C. Countries that close themselves off from the global economy decrease the need for households to save.

D. Isolated countries will drive domestic firms out of business by shielding them from foreign competition.

Question

Armando Larson

Business

11 August, 11:31

In 2017, in a speech in China, Apple CEO Tim Cook stated that globalization is "great for the world ... I think the reality is you can see that countries in the world ... that isolate themselves, it's not good for their people." Source: Eva Dou, "Apple CEO Tim Cook Defends Globalization in China," Wall Street Journal , March 18, 2017.

Why would countries that isolate themselves rather than participating fully in the global economy be hurting their own people?

A. When countries isolate themselves from the global economy, they must specialize in producing only a few goods.

B. Countries that isolate themselves miss out on foreign investment and access to better technology.

C. Countries that close themselves off from the global economy decrease the need for households to save.

D. Isolated countries will drive domestic firms out of business by shielding them from foreign competition.

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Answers (1)

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Brice · Answer 1

Option (C) is correct.

Countries that close themselves off from the global economy decrease the need for households to save.

Explanation:

On the off chance that country permits globalization, it will depend on innovative advances of other nations and neglect to build up their own innovation.