BU352 Chapter Notes - Chapter 16: Free Trade, Contract Manufacturer, Export Development Canada
Document Summary
Canadian companies have to compete with global companies for raw materials, labour, knowledge, and markets for their p/s. Globalization refers to the processes by which p/s, capital, people, info, and ideas flow across national borders. Reduction in trade barriers, standardized laws, globally integrated production processes. Creates a lot of interdependencies among firms and even divisions of firms. Driving force for growth in global markets = technology. Gatt = general agreement on tariffs and trade = to lower trade barriers that inhibited the free flow of goods across borders. Gatt replaced by wto = world trade organization = its main function is to ensures trade moves as smoothly, predictably, and freely as possible. International monetary fund (imf) = primary purpose is to promote international monetary cooperation, and facilitate the expansion and growth of international trade. World bank group = dedicated to fighting poverty and improving the living standards of people in the developing world.
