Neoliberalism is a free market economic philosophy that favors the deregulation of markets and industries, the diminution of taxes and tariffs, and the privatization of government functions, passing them over to private business.

What was highly significant about the rapid economic growth in East Asia? The region saw a reduction in extreme poverty from 57 percent to 4 percent in 25 years.

The current system of world capitalism is not a collection of independent countries. What is the primary legacy of colonialism from the perspective of a dependency theorist? Barbara believes that rich countries exploit poor countries.

What is a characteristic of global commodity chains theory? It focuses on relationships among countries rather than global businesses. It examines how different countries and regions are affected by global commodity chains. Business decisions are considered unimportant.

The relatively capital-intensive manufacture of automobiles, aircraft and electrical machinery can be thought of as examples of producer-driven commodity chains.

Definition of Global Commodity Chain (noun) An internationally integrated process of economic links between corporations and workers whereby commodities are gathered, transformed into goods and services, and distributed to consumers across the world.

There are four customary stages in a product’s life cycle: the introductory phase, the growth phase, the maturity phase and the decline phase. Each phase is markedly different and often requires different value chains.

Supply Chain refers to the integration of all activities involved in the process of sourcing, procurement, conversion and logistics. On the other hand, value chain implies the series of business operations in which utility is added to the goods and services offered by the firm so as to enhance customer value.

What is Global Commodities? The commodities featured in this resource have been transported, exchanged and consumed around the world for hundreds of years. They helped transform societies, global trading operations, habits of consumption and social practices.

Commodities are something used to make goods. And goods go to the end users. For instance, flour is commodity and bread is goods. If I tell you in a very informal way then commodity is a species of molecule/grain or whatever.

In addition to the commodities mentioned above, other commodities to consider are other precious metals—platinum, palladium, silver—lithium, cotton, and food products such as coffee, corn, oats, wheat, soybeans, and sugar. But as with all investment decisions, do your own research or consult with an experienced broker.

While a commodity trader can average a salary of $86,587 per year, or $41.63 per hour, there are many opportunities for commodity traders to make more.

Here are some of the top ways to hedge against inflation:

1. Gold. Gold has often been considered a hedge against inflation.
2. Commodities.
3. 60/40 Stock/Bond Portfolio.
4. Real Estate Investment Trusts (REITs)
5. S&P 500.
6. Real Estate Income.
7. Bloomberg Barclays Aggregate Bond Index.
8. Leveraged Loans.

Four ways to protect your savings from inflation

1. Shift longer term savings into equities. You may have some cash set aside in a savings account.
2. Choose your investments wisely. There are other investments that offer the potential for above-inflation returns, provided you know where to look.
3. Maximise tax efficiency.
4. Seek expert advice.

Basic Savings Accounts Don’t Beat Inflation A basic savings account is a great place to save money for easy access, but even the highest-earning savings account offers lower than 2 percent interest — and often less than 1 percent — which means your money is not beating inflation.

Inflation increases the price of goods and services over time, effectively decreasing the number of goods and services you can buy with a dollar in the future as opposed to a dollar today. This effectively decreases the time value of money, since it will cost twice as much to purchase the same product in the future.