MARK 462 Study Guide - Midterm Guide: Debt Relief, Cultural Imperialism, Bretton Woods, New Hampshire
5 May 2017
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We are moving towards a world where barriers to cross-border trade and investment are declining: perceived distance is shrinking due to : Rise of skilled workers in developing countries: material culture is starting to look similar the world over, national economies are merging into an interdependent, integrated global economic system. Volume of goods, services & investments crossing national borders has expanded faster than world output for more than half a century. More than trillion in foreign exchange transactions are made every day. . 3 trillion of goods & . 3 trillion of services sold across the national borders in 2012. Vigorous & vocal groups protest against globalization blaming globalization for a list of ills : (cons to globalization: unemployment in developed nations, environmental degradation, americanization of local culture. Firms can expand their revenues by : selling around the world and reducing their costs, producing in nations where key inputs, including labor, are cheaper.
