IB1 - IB I JUAN CARLOS GARCA-PIA style Click to edit Master...

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Click to edit Master subtitle style 8/18/11 IB I JUAN CARLOS GARCÍA-PIÑA ROSETE
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8/18/11 What Is Globalization? The world is moving away from self-contained national economies toward an interdependent, integrated global economic system Globalization refers to the shift toward a more integrated and interdependent world economy Globalization has two facets: 1) the globalization of markets 2) the globalization of production
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8/18/11 The Globalization Of Markets The globalization of markets refers to the merging of historically distinct and separate national markets into one huge global marketplace In many industries, it is no longer meaningful to talk about the “German market” or the “American market” Instead, there is only the global market
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8/18/11 The Globalization Of Markets Falling trade barriers make it easier to sell internationally The tastes and preferences of consumers are converging on some global norm Firms help create the global market by offering the same basic products worldwide
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8/18/11 The Globalization Of Production The globalization of production refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production like land, labor, and capital Companies compete more effectively by lowering their overall cost structure or improving the quality or functionality of their product offering
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8/18/11 The Emergence Of Global Institutions Institutions are needed to: help manage, regulate, and police the global marketplace promote the establishment of multinational treaties to govern the global business system
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8/18/11 The Emergence Of Global Institutions Institutions created over the past half century include: the General Agreement on Tariffs and Trade (GATT) the World Trade Organization (WTO) the International Monetary Fund (IMF) the World Bank the United Nations (UN)
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8/18/11 The Emergence Of Global Institutions The World Trade Organization (like its predecessor GATT) is primarily responsible for policing the world trading system and making sure that nation-states adhere to the rules laid down in trade treaties signed by WTO members In 2007, the 150 nations that accounted for 97% of world trade were WTO members The WTO promotes lower barriers to trade and investment
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The Emergence Of Global Institutions The International Monetary Fund and the World Bank were created in 1944 The IMF was established to maintain order in
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This note was uploaded on 08/17/2011 for the course BUSL 01342 taught by Professor Jenkins during the Winter '10 term at Ohio University- Athens.

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IB1 - IB I JUAN CARLOS GARCA-PIA style Click to edit Master...

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