PHYSICS 102 Lecture Notes - Lecture 8: Business Analysis, Ikea, Economic System

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What is(was) driving globalisation: technological change, global institutions, wto, un. Technological changes it: moore"s law (1965)- power of microprocessor technology doubles and cost of production falls in half every 18 months. When the walls came down the windows went up t. l. Friedman: microprocessors encode, transmit and decode vast quantities of information. Responsible for recent advances in telecommunications technology, e. g. satellites, fibre optics, wireless technologies, internet and the www, email, mobile telecommunications (smart phones): revolutionised some businesses and practically destroyed others, amazon/borders, apple music/hmv. Technological changes: transportion: the development of the commercial jet aircraft, superfreighters and containerisation have cut the cost of shipping freight dramatically. In 1920 it cost per tonne to ship freight across the atlantic; in 1990 it cost per tonne. Source: oecd (2018), oecd economic outlook, volume 2018 issue 1. Investing resources overseas greenfield or acquisition: 1991-2000: 1,121 changes made to fdi laws globally, 95% favourable.

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