BUS 200 Study Guide - Midterm Guide: New Development Bank, Pound Sterling, Canadian Dollar

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 200
• Professor: Sam Thiara

Document Summary

Globalization: process by which the world economy is becoming a single interdependent system (eg international trade) Imports: the products made or grown abroad, but sold in canada. Exports: products made or grown domestically and shipped abroad. Eg chi(cid:374)a is the (cid:449)orld"s top (cid:373)er(cid:272)ha(cid:374)dize e(cid:454)porter. To sustain globalization: governments and businesses become more aware of the benefits of globalization to their countries and stockholders, new technologies easier travel, faster communication and cheaper commerce, competitive pressures. Critics with globalization: business exploit workers in less-developed countries, avoid domestic environmental and tax regulations, loss of cultural heritage, benefit the rich more than the poor. The major world marketplaces: distinctions based on wealth, high-income countries: canada, the us, most countries in europe, australia, japan, South korea, israel, kuwait, the united arab emirates, omen (annual per capita income more than us : upper-middle-income countries: china, columbia, lebanon, turkey, argentina, south.