ADM 3318 Study Guide - Final Guide: Multilateral Agreement On Investment, New Trade Theory, Win-Win Game
10 Dec 2016
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Document Summary
Refers to the shift towards a more integrated and interdependent world economy. Become aware of changing trade patterns, flows of foreign direct investment and the increasing importance of multinational corporations. Become familiar with the principle controversies over globalization. Labour mobility and returns to human capital. Figure 1 (diagram at the end) is a useful scheme of globalization. It captures all the essential components of globalization and shows the impact on a country, in this case, canada. Globalization of markets refers to the merging of historically distinct and separate national markets into one huge global marketplace. Moving away from an economic system in which national markets are distinct entities, isolated by trade barriers and barriers of distance, time and culture, and toward a system in which national markets are merging into one global market. Consumer products such as citicorp credit cards, coca-cola, mcdonalds, and apple are examples of this trend.
