Chapter One - Globalization

Chapter One - Globalization - Chapter One Globalization:...

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Chapter One Globalization: Past, Present and Future
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What is globalization? (What is “international business”?) The history of globalization Why globalization is controversial
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What is globalization? “…A change in the world economy whereby national economies formerly isolated by distance, time zones, language, national regulations and culture, are merging into an interdependent global economic system…” (Economic) “Globalization is the process whereby national economies are becoming increasingly integrated and interdependent.” (Economic) “Locating manufacturing to where labor is cheapest; pursuing markets around the world with the highest profitability; and sourcing capital (money) where its easiest.” (Business) “A social process in which the constraints of geography on social and cultural arrangements recede and in which people become increasingly aware that they are receding.” (Sociological/cultural) “A realization that the world is a single entity.” (Environmental) “The colonization and exploitation of the raw materials and labor of the Third World by the First.” (Political)
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A more encompassing definition…. All of the definitions of globalization cited on the previous slide are accurate
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This note was uploaded on 02/06/2012 for the course ECON 111 taught by Professor Risnit during the Spring '11 term at SUNY Suffolk.

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Chapter One - Globalization - Chapter One Globalization:...

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