To determine: The shifts in the world economy over the last 30 years and the impact of the shift for the international business.
Introduction:
Globalization is the process used by the company to influence their business internationally and the process of doing business globally.
Explanation of Solution
Determine the shifts in the world economy over the last 30 years and the impact of the shift for international business:
There are conditions in which the world’s economies of the nation has differences in business systems, cultures, and government regulations. The world in which the national economies are isolated by trade barriers and they are self-contained entities.
Over the past three decades, there has been a shift away in the economies of the nation. There is a decline in the trade and investment barriers. National economies are merging into the integrated global economic system and the cultures are converging. Companies from Country U and western region of Continent was diminished when the companies from Country C and Country J began to play a major role in world economy.
In the developing countries, the spending power of the customers was growing quickly. International business based in Country U, Country C, and Country H are facing both threats and opportunities due to the shift in the world economy.
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Chapter 1 Solutions
International Business: Competing in the Global Marketplace
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