GMS 200 Lecture Notes - North American Free Trade Agreement, Southern African Development Community, Most Favoured Nation

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Shavin Malhotra

Document Summary

Global economy- where resources, markets, and competition are worldwide in scope. Globalization- process of growing interdependence among elements of the global economy. The term used to describe management in organizations with business interests in more than one country is international management. A new breed of manager, the global manager is culturally aware and informed about international affairs: europe. The european union (eu) is a political and economic alliance of european countries. It supports mutual economic growth by removing barriers that previously limited cross-border trade and business development. Expanding to 22 member countries with 375 million consumers. Euro is the common european currency: the americas. Cana, the united states, and mexico are joined in the north american free trade agreement (nafta)- agreement for free flow of goods, services, between the three countries. At times an issue in nafta controversies, maquiladoras- are foreign manufacturing plants that operate in mexico with special privileges.