MGTA01H3 : chpt 5 notes
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MGTA01H3 Full Course Notes
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Document Summary
Imports- products that are grown or made abroad sold in canada. Exports- products made or grown in canada that are sold abroad. International business is nothing new global economy is not big of a change as we think. International trade is becoming more important to most nations of the world . In the past, there were strict policies nations follow to protect domestic business. World bank uses per capita income to divide countries in 4 groups ( high income, upper middle income low middle income and low income) Per capita income- average income per person of a country. North america- composed of usa-largest and most stable economy, canada, mexico- cheap labour and low transportation costs. Europe- reguarded as 2 regions- western and eastern europe. 1970s/80s. --> currency crisis in 1990 slowed growth acts as competition ofr north american eg toyota, toshiba,. China is third largest economy next to us, japan.
