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Lecture 4

Week 4

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Ryerson University
Global Management Studies
GMS 200
Robert Hudyma

Chapter 5 International Management and Globalization Global Economy resources supplies, product market, and business competition are worldwide in scope Globalization is the process of growing interdependence among elements of the global economy International Management involves managing operations in more than one country Example: McDonalds, more than 70 countries Global Manager is culturally aware and informed about international affairs - This person is aware of international development, working with people from different cultures and changes in the world Europe - Is a place of dramatic political and economic development - European Union is expanding to 22 countries that agree to support mutual economic growth by removing barriers and eliminate frontier controls, create uniform minimum technical product standards, and lift competitive barriers for banking and insurance - The common European currency is Euro - The expected regional benefits of an expanding EU includes higher productivity, lower inflation and steady growth - Have over 375 million customers and Mexican have child labour The Americans - Canada, United Sates and Mexico are joined in the North American Trade Agreement (NAFTA) o Very hard to get approval from the NAFTA is not easy o American politicians were concerned about potential loss of jobs to Mexico o Says the Mexico does not operate by the same social standards Environmental protection and child labour - This agreement largely frees the flow of goods and services, workers and investments within a regional that has more potential consumers than its European rival, the EU - Maquiladoras are foreign manufacturing plants that operate in Mexico with special privileges o Import materials, components and equipment duty free o Increase jobs in Mexico, to help develop skilled local worker o They employ low cost labour and these jobs are going to Mexicans rather then the NAFTA Asia and the Pacific Rim - China and India have economics that is growing at more than three times the average rate of their industrialized countries - China is the major exporters of appeals, electronics, sport goods and other goods
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