MGTA01H3 Chapter 5: Chapter 5 Notes
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MGTA01H3 Full Course Notes
Verified Note
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Document Summary
The contemporary global economy: trade happened back in 2000bce. north african traded dates and clothing for olive oil and spices with the middle east: more countries are encouraging international trade. offer incentives for their own domestic firms to expand internationally. open board for foreign businesses: new technologies contributes to the expanding globalization. easier, faster and cheaper to travel, communicate internationally. 3 major marketplaces: north america, europe and asia-pacific: world bank uses per capital to divide countries into 4 groups. low income (aka developing) countries: north america. usa & canada= each other"s largest trading partner. businesses would operate in both countries: mexico. major manufacturing centre (cheap labour and low transportation cost) attracts foreign firms to build manufacturing plants: europe. western europe dominated by germany, uk, france and i taly. eastern europe: technology and biotech are increasingly important in the east. i reland: world"s 2nd largest exporter of software.
