ARBUS301 Lecture : ARBUS301 - Course Notes.docx
25 Oct 2013
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Document Summary
Korea to malysia and indonesia, had already embarked upon an ambitious proram of market liberalization in the 1980s. Technological advances as a driver of market. Globalization: advances in technology provides the means for internationalization of firms, advances in technology. Faciliatates the development and spread of new products and technologies; Reduces the cost of doing business internationally; Enables even smaller firms to go international. Mitigates geographic distance by providing virtual interconnectedness with customers, subsidiaries, intermediaries, and suppliers: phases of globalization. Rise of manufacturing; cross-border trade of commodities, largely by trading companies. Emergence and dominance of early multinational enterprises. Formation of general agreement on tarrif and trade; conclusion of world war ii, marshall plan to reconstruct. At war s end in 1945, substantial pent-up demand existed for consumer products, as well as for input goods to rebuild. Among the leading economies, the us was least harmed by the war and became the world s dominant economy.
