IBUS Studyguide Ch. 1

For example when the united states experienced a

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: industry. The bond market has gained worldwide scope, with foreign bonds representing a major source of debt financing for governments and firms. Nevertheless, widespread integration can have negative effects. For example, when the United States experienced a banking crisis in 2008, the crisis quickly spread to Europe, Japan, and emerging markets, triggering a global recession. b. Around the world, consumers spend their money and time in increasingly similar ways. Lifestyles and preferences are converging. Major brands have gained a global following, encouraged by greater international travel, movies, global media, and the Internet, all of which expose people to products, services, and living patterns from around the world. Convergence of preferences is also occurring in...
View Full Document

Ask a homework question - tutors are online