GMS 200 Lecture Notes - Lecture 3: North American Free Trade Agreement, Global Sourcing, Foreign Direct Investment

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Deborah De Lange

Document Summary

Globalizaion is the process of growing interdependence among the components of the global economy. Global sourcing: a common irst step into internaional business is global sourcing, which is the process of purchasing materials or services from around the world for local use. Trade: exporing and imporing: exporing is a form of internaional business that involves selling locally made products in foreign markets, imporing is a form of internaional business that involves buying foreign-made products and selling them in domesic markets. Foreign subsidiaries: a foreign subsidiary is a local operaion completely owned and controlled by a foreign irm. While the subsidiary can be acquired, it may be build enirely by new greenield investments: asian global business [wto video] htp://www. youtube. com/watch? v=uyanj2smyqk. The world trade organizaion is an internaional organizaion that monitors internaional trade and tries to resolve disputes among countries about tarifs and trade restricions.