Economics · Globalisation
The term 'Globalisation in reverse gear' refers to the contemporary trend of:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Developed countries increasing their foreign aid to developing nations.
- 2An increase in protectionist policies, trade barriers, and a retreat from multilateralism.✓
- 3A universal switch to floating exchange rate regimes.
- 4Increased flow of skilled labor from developed to developing countries.
Correct answer
An increase in protectionist policies, trade barriers, and a retreat from multilateralism.
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