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Explain challenges that globalization

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Reference no: EM133082715

Caribbean economies are said to be very vulnerable. Globalization has brought us closer as a world than we ever were before. Its benefits are experienced by all, but its challenges seem to way heavier on certain economies. Turks and Caicos Islands is no exception as a British Overseas Territory (BOT). The islands enjoyed surplus balance of payments until 2020. The Government of the Island (TCIG) opted to borrowed USD$80 million from the Trinidad and Tobago based Republic Bank Limited (RBL).

-Discuss FOUR (4) internal factors, with illustrating examples, that hinder economic development within the Turks and Caicos Islands.

-Identify and explain THREE (3) challenges that Globalization, with illustrating examples, poses to Turks and Caicos Islands.

-Explain the reason why the TCIG opted to borrow money from a regional commercial bank to weather the early effects of the pandemic.

-Discuss how imperialism (identifying any imperial relations) can inhibit the economic growth and development of Turks and Caicos Islands.

Reference no: EM133082715

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