BUSI 2701 Chapter Notes - Chapter 1: World Trade Organization, Microprocessor, General Agreement On Tariffs And Trade
20 Apr 2016
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90% of an apple iphone is made abroad, diff parts from diff countries. Not b/c of cheap labour but b/c of: fast production, entire supply chain in one country (china) and quick response to changes in design. Globalization: a world where the volume of goods, services & investments crossing national borders expanded faster than world output/yr. Globalization: shift toward + integrated & independent world economy. Barriers to cross border trade and investment are falling, free market w/ increased competition: many businesses going int, ex. Starbucks: refined stores in us w/ 25 stores 17000 stores in 60 countries, int symbol: coco-cola/mcdonald"s are int symbols. Playing field of success leveled out for developing countries not just developed nations: ex. Outsourcing highly skilled accounting jobs to india for canadian clients. Perceived distance shrinking due to adv in tech, transportation, communication. Globalization of markets: moving away from an economic sys.
