HUEC 4044

HUEC 4044 - HUEC 4044 13:48 ndIntroduction to globalization...

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Unformatted text preview: HUEC 4044 13:48 ndIntroduction to globalization Globalization is the process whereby the worlds people are becoming increasingly interconnected in all facets of their livescultural, economics, political, technological, and environmental (Lodge, 1995) objectives examine of global issues measuring differences amount countries that are classified as newly developing, developing, and developed textile terminologies concepts introduction textile and apparel professionals engage in merchandising marketing design product development production distribution the textile and apparel business provides employment for more people than any other business segment perspectives for consideration of globalization globalization viewed from political/government perspectives economic/business perspectives social/labor perspectives; including environmental and economic sustainability global terminologies/lexicon textile complex incorporates firms around the world to accomplish textile fiber production and manufacturing. Textile manufacturing, apparel manufacturing, retailing, and product consumption levels of trade domestic trade international tread global tread trade agreements established by governments enhance or control trade sourcing determines the most cost-efficient vendor of services, materials, production, or finished goods, at a specified quality and service level, for delivery within an identified time frame global trade three types of integrations occurring: financial (globally integrated) trade and investment (regionally integrated e.g. NAFTA [north American free trade agreement] and EU) labor (nationally regulated) measuring levels of trade exports represent goods shipped for import to another country in exchange for money. Other goods, or jobs imports make goods available for domestic consumption or materials available ofr domestic production trade balance = exports- imports a trade surplus means there is a positive trade balance; a trade deficit means there is a negative trade balance the World Trade Organization (WTO) commonly describes difference between rich countries and poor countries the World Bank and United Nations use the term least developed to describe the worlds poorest countries terms first world, second world, third world indicated differences in levels of development measuring levels of development per capita gross national product (GNP) gross national product (GNP) per capita gross domestic product (GDP) most realistic gross domestic product (GDP) per capita developed countries shifted emphasis from producing textiles and apparel to consuming them product development encompasses the design and engineering of products to be...
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HUEC 4044 - HUEC 4044 13:48 ndIntroduction to globalization...

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