MGCR 382 Study Guide - Tech 3, Mobile Phone, Global Sourcing

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Document Summary

Definition: generally the broadening set of interdependent relationships among people from diff countries . Specifically: the inexorable integration of markets, nation-states, & technologies in a way that is enabling individuals, corp, & nation-states to reach around the world farther, faster, deeper, & cheaper than ever before [textbook] Process of increasing globalization is evidenced by dramatic growth in the last few decades of the 2 primary vehicles for conducting biz: i-trade & fdi -> 2 indicators of globalization. World trade (5. 7%) is growing faster than world gdp (3. 5%). Rapid growth in trade is fueled by: decline of trade barriers, liberalization of mkts within countries, advances in information & transportation tech, developed economies now source many of they consume from low-cost manufacturing emerging countries. World export of goods has grown dramatically from 1% of world gdp in 1950 to 22% in 2010. Banking & financial services are the most active cross-border services.