Explanation These days’ countries of all types involved in globalisation or international business regardless of their sizes but the extent of their involvement varies country to country. Globalisation is the process of engagement of countries or businesses worldwide. Due to the increased global interactions, international trade, views, culture and innovations or technology, has also grown that establishes global relations. It is also called as international business as it involves export and import between different countries. There are some forces that help in the ease of globalisation or international business: 1. GATT (General Agreement on Tariffs and Trade) is a treaty that is designed to encourage free trade by decreasing tariffs and nontariff barriers on international trade. 2. WTO (world trade organisation) is an international organisation that imposes the rules and regulations of international trade. 3. IMF (international monetary fund) is an organization formed to legalize fixed exchange rates and to enforce its rules. 4. World Bank is an organisation formed to grant financing for national economic development efforts...

The value of goods and services that all nations of the world export every year.

International Business: The Challenges of Globalization (8th Edition)

8th Edition

ISBN: 9780133866247

Author: John J. Wild, Kenneth L. Wild

Publisher: PEARSON

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Chapter 1.1, Problem 1QS1

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The value of goods and services that all nations of the world export every year.

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Chapter 1.1, Problem 2QS1

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