Today’s Global Economy is very top-down driven with the government making all the decisions and regulations as it relates to doing business globally.

What are some advantages and disadvantages to this approach?

Is there another approach that might work better?

Please provide references.

Answer preview

A top-down approach in the global economy refers to a system in which the government controls the market’s running. It enhances decision making and regulations of how business should be conducted. The model grants the government sole control over activities that are involved in building the economy. One…