INTB 1209 Lecture Notes - Lecture 1: Foreign Direct Investment, Arab States Of The Persian Gulf, World Trade Organization
13 Jan 2017
School
Department
Course
Professor
Document Summary
Globalization- a shift to a more integrated and interdependent world economy. Moving away from a world in which national economies were self-contained, now national companies are interrelated or interdependent (rely on each other, rather than just o(cid:374)e"s o(cid:449)(cid:374) (cid:374)atio(cid:374)al e(cid:272)o(cid:374)o(cid:373)y(cid:895) Perceived distance between nations is decreasing as transportation and technology advances. Vigorous and vocal groups protest the unemployment in developed countries (due to outsourcing labor to poorer countries), degradation of the environment and the. Cheap labor and supplies, greater profits, barriers of international business have been reduced (international expansion) With the shift of technology and increase in skilled foreign laborers, many companies no longer need to develop the product nor provide jobs in the area of which the product is being delivered. Refers to the merging of historically distinct and separate national markets into one huge global marketplace. Firms that produce globally used and known products are helping facilitate and create the global market (ex: starbucks, ikea, coca-cola)
