Section 2 Introduction

What forms the basis of economic globalization?

Inquiry into the Issue

To what extent is a country’s level of economic freedom related to economic globalization?

Countries and Economic Freedom

According to FreetheWorld.com, a website about the economic freedom of the world, Hong Kong, Singapore, and New Zealand rated the best for economic freedom in 2007. Zimbabwe and Myanmar were assessed the worst. In this inquiry you will analyze the relationship between economic freedom and conditions that encourage or prevent the expansion of economic globalization. economic freedom: the ability of an individual or country to produce, trade, or consume any goods or services without barriers as encouraged by democratic and free market principles

interdependence: the relationship between countries and their economies

The boom and bust of one country’s economy may have global impact on the economies of other countries.

Internet

This is a required activity to support the inquiry but will not be graded.

Go to the website and find the “Economic Freedom of the World Annual Report.” What criteria determine the extent of a country’s economic freedom? (You will find this information at the beginning of each annual report.)