Critical Thinking 3.1

Countries like the United States that have a high standard of living >P.5< are referred to as industrialized nations; countries with a low standard of living and quality of life >P.6< are called developing countries (former terms used were underdeveloped or less-developed countries.) What's the reason why developing nations are not fully industrialized? Is it because they lack natural resources? If so, how do you explain the success of industrialized nations like Japan and Singapore, which have few natural resources?

Critical Thinking 3.2

About 95 percent of the world's population lives outside the United States but many U.S. companies, especially small businesses, still do not engage in global trade. Why is that? What does this indicate about the potential for increasing U.S. exports? What does it say about career opportunities in global business?