In a globalized economy, countries compete fiercely to attract foreign direct investment, often by offering lower wages, weaker environmental regulations, and tax incentives to businesses. This phenomenon is known as the 'race to the bottom'.

In the 'flying geese paradigm', Japan is typically seen as the lead country, followed by other countries in East Asia such as China, South Korea, and Taiwan. Japan's advanced economy and technological prowess have enabled it to play a leading role in the region's economic development.

Globalization has led to an increased demand for skilled labor in developed countries, as companies seek to remain competitive in the global marketplace. This has resulted in higher wages for skilled workers, while low-skilled workers have faced stagnant or declining wages.

The rise of the internet and digital technologies has played a pivotal role in creating a more interconnected and interdependent world. These technologies have enabled people from different parts of the world to communicate, share information, and engage in economic and cultural exchange with unprecedented ease.

The primary goal of the 'Washington Consensus' policies was to promote economic growth and development in developing countries. These policies emphasized fiscal discipline, trade liberalization, privatization, and deregulation.

The primary factor that has contributed to the rise of the BRICS countries is their rapid economic growth. These countries have experienced significant economic expansion in recent decades, driven by factors such as trade liberalization, foreign direct investment, and domestic reforms.

Canada is not a member of the G20. The G20 comprises 19 countries and the European Union.

The primary function of the WTO is to promote free trade and reduce trade barriers between countries. It does this by negotiating trade agreements, resolving trade disputes, and setting global standards for trade.

The primary role of the IMF is to provide loans to countries facing balance of payments problems. It does this by lending money to countries that are experiencing a shortage of foreign exchange reserves.

The primary goal of the World Bank is to promote economic growth and development in developing countries. It does this by providing loans, grants, and technical assistance to developing countries.

The primary role of UNCTAD is to provide research and analysis on trade and development issues. It does this by publishing reports, conducting studies, and organizing conferences on trade and development topics.

The primary role of the OECD is to promote economic growth and development in member countries. It does this by coordinating economic policies, providing research and analysis on economic issues, and promoting trade and investment among member countries.

The primary goal of the ADB is to promote economic growth and development in developing countries in Asia. It does this by providing loans, grants, and technical assistance to developing countries in the region.

The primary goal of the AfDB is to promote economic growth and development in developing countries in Africa. It does this by providing loans, grants, and technical assistance to developing countries in the region.

The primary goal of the IDB is to promote economic growth and development in developing countries in Latin America and the Caribbean. It does this by providing loans, grants, and technical assistance to developing countries in the region.