ADMS 1000 Chapter Notes - Chapter 8: World Trade Organization, Mercantilism, Single Market

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Paulette Burgher

Document Summary

It is a process involving the integration of world economics (presence of trade blocs reflects the accelerating pace with which nations are integrating their economies ) It is a process involving the integration of world market (reflects the notion that consumer preferences are converging around the world: recurrent themes raised in any discussion of globalization tend to include: Globalization can be considered a process that is expanding the degree and forms of cross- border transactions among people, assets, goods, and services. Globalization refers to the growth in direct foreign investment in regions across the world. Globalization reflects the shift towards increasing economic interdependence; the process of generating one world economic system or a global economy. Fundamental reason to join global operations is to help business expand its market. Significa(cid:374)t portio(cid:374) of sales a(cid:373)o(cid:374)gst (cid:449)orld"s largest (cid:272)o(cid:373)pa(cid:374)ies (cid:272)o(cid:373)e fro(cid:373) outside their home country. Having the world as your market offers limitless potential beyond domestic consumers.