GBDA 102 Lecture Notes - Lecture 2: Labour Market Flexibility, Multinational Corporation, International Trade

• School: University of Waterloo
• Department: Global Business and Digital Arts
• Course: GBDA 102
• Professor: Vivian Yang

Document Summary

Weakens protection of the environment china. Exploits workers in poor nations: supporters argue: Generates labor market flexibility in developed countries. Companies concerned for future markets: inequality. Disparity in rich nations (increasing) poorer people in developing nations benefit most from an open economy. Widening gap in average incomes between rich and poor nations. Open nations are benefiting from trade while closed ones are not. Widening income inequality between all people of the world. Global inequality has started to fall in the recent decades: cultural globalization. Opponents say: (prof agrees probably china too) It destroys cultural diversity bankrupts local small businesses homogenizes our world. Different operations in different countries: small businesses and entrepreneurs. Important part, even if it doesn"t seem that way: born global firm. Adopts a global perspective and engages in international business from/near its inception. International business players: weird circle vagina thing.