The government of a country is trying to meet the debt payment requirements imposed by the International Monetary Fund.Policies are introduced that open up the economy to global corporations that will pay government fees and taxes,rather than encouraging local companies to expand.This situation solves the immediate problems concerning debt payments,but hurts local businesses and citizens in the longer run.According to the text,which aspect of globalization is this situation an example of?

Question

Quizplus · Accepted Answer

This situation exemplifies the concept of a "democratic deficit," where decisions made by or influenced by global entities (like the IMF in this case) can override or sideline the preferences and interests of the local population and businesses, leading to policies that may not align with the local public's best interests.

The Government of a Country Is Trying to Meet the Debt