BA 3340 Lecture Notes - Lecture 14: General Agreement On Tariffs And Trade, World Trade Organization, Technological Change
Document Summary
Globalizaion: the shit toward a more integrated and interdependent world economy. The world is moving away from self-contained naional economics. Internaional business: any import/export to atleast 1 other country. Global business: see world as the marketplace, can really funcion anywhere. Firms of all sizes beneit and contribute to the globalizaion of markets. Firms source goods & services from locaions around the globe to capitalize on naional diferences in the cost and quality of factors of production like land, labor, energy, etc. Global insituions help manage, regulate, and police the global marketplace. Polices the world trading system, make sure that naion-states follow rules, promotes lower barriers to trade and investment (154 members in 2011) Maintains order in the internaional monetary system. Lender of last resort in countries in crisis. Promotes economic development via low interest loans for infrastructure project. Forum major naions tried to launch a coordinated policy response to the 2008-
