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Lecture 5

Week 5 [P2]

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Department
Administrative Studies
Course
ADMS 1010
Professor
Yong Troy
Semester
Fall

Description
Week 5 Automobile Industry and the Impact of Globalization ADMS 1010TroyPart IIGlobalization What is itDescribes the changes in society and the world economy that result from dramatically increased international trade and cultural exchange A shrinking of the state in face of more worldwide pressures Technology particularly in communications and transportation has increased this level of instructiveness Industrialization advances transportation globalization multinational corporations and outsourcing are all having a major impact Increasing international trade is the primary meaning of globalization Globalization in its complete form eliminates national states Globalization became more prevalent after World War II The establishment of GATT and the WTO are examples of globalization taking root Neoconservative movements in the 1980s are made possible through the development of globalizationThe Mobile EconomyAccess to technology continues to growBorders are eroded as markets are integrated As barriers fall private capital seeks new markets Government anxious to reduce deficits and shift spending to social needs increasingly welcomes this investmentThe Principles that Influence International TradeInternational trade is the exchange of goods and services across international boundariesFor centuries under the belief in Mercantilism most nations had high tariffs and many restrictions on international tradeth In the 19 century a belief in free trade became paramount and this view has dominated since then In the years since World War II multilateral treaties like the GATT and World Trade Organization have attempted to create a globally regulated trade structure International Trade
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