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Ethics and Globalization
What is the core ethical dilemma multinational banks face due to globalization?
Banks face pressure to adopt lower ethical or regulatory standards of host countries, but the ethical imperative is to maintain consistently high standards across all jurisdictions rather than exploiting lower local standards.
How does the World Bank define globalization according to the chapter?
Growing integration of economies, societies, culture, technology and governance worldwide.
Should a multinational bank adopt the lowest regulatory standards available among its host countries?
No; adopting the lowest standards compromises ethics — banks must uphold principled conduct regardless of which country permits lower standards.
What is described as the biggest ethical challenge arising from globalization?
The challenge of ethical diversity due to differing cultural moral standards.
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