Describe the shifts in the world economy over the last 30 years. What are the implications of these shifts for international businesses based in Britain, North America, and Hong Kong? There have been many shifts in the world’s economy over the last 30 years. The first of these shifts is the changes in the different countries economies and allowing Globalization. The economies of countries are not confined to the natural boarders. This has allowed industrialization in developing countries throughout the world. Industries such as the automobile industry has seen many Japanese, Korean and European companies enter the global auto market and create a fall in the United State auto market share. This has diminished the overall share of the world’s exports and outputs for the United States. Another shift is the change of many communist countries shifting to democratic free market societies. This gives the opportunity to businesses in these countries to become contributors in the Global Market. Continued emergences from these areas allow more competition to the past
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