Textbook notes Ch.5-Understanding International Business (Exam Review)

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Management (MGT)
Chris Bovaird

Chapter 5: Understanding International Business[EXAM] Globalization: the integration of markets globally The contemporary Global Economy - Trade bw nations can be traced back to 2000BC - Capital mobility: the movement of money from country to country - Forces that sustain globalization: 1) gov and business have become more aware of the benefits to their countries and shareholders 2) new tech make international travel, communication and commerce increasingly easier, faster and cheaper than ever before 3) competitive pressure: a firm simply must enter foreign markets to keep up with its competitors The major world marketplaces K420949K02489419K0Z47O8O,7J0890.4342L08-LJJ0892:O9L3,9L43,O.47547,9L4382489 influential financial markets, and highest income consumers Per capital Income: the avg income per person of a country High income coutnrues: per capital income over US $10 065 ex Canada, US, Europe Upper Middle: US $3255-10 065 [Greece, hungary, Poland] Low middle: $825 - $3255 [ Colombia, Samoa, Thailand] Low-income country: less than US$825 [east Africa] low literacy rates, weak infrastructure, unstable gov, related problems North America - US dominates the North America business region - Single largest marketplace and enjoys the most stable economy in the world - Canada also plays a major role in the international economy - Mexico become a major manufacturing center, especially along the southern US border, where cheap labour and low transportation costs have encouraged many firms to build manufacturing plants Europe - Regarded as 2 regions: western Europe, Eastern Europe - Western: dominated by Germany , united kingdom, France, Italy mature but fragmented market place - Transformation of European Union in 1992 into a unified marketplace increase the 70JL438L25 - Ecommerce and tech becoming increasingly imp - Southeast: surge in internet start up - ,70O,3L89K0Z47O80[547907418419Z,70 www.notesolution.com
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