BUSI 1701 Study Guide - Final Guide: Economic Bubble, Global Marketing, World Trade Organization
5 Feb 2018
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Document Summary
Shift toward a more integrated and interdependent world economy. Increased mobility of goods, services, labour tech and capital throughout world. Societal view: process where societies change core their core values, institutions, procedures, norms, and identities* Merging of once distinct and separate markets into a large global marketplace. The most global markets are for industrial goods and material that have a universal need. Sourcing of g&s from other countries to take advantage of differences in cost and quality of factors of production. International treaty enabling lowering of barriers to the free flow of goods across national borders. Polices world trading system, makes sure nations adhere to rules (149 nations (97%) were members) (2006) Promotes lowering barriers to cross border trade and investment. Last resort, in addition to loans, imf requires nations to adopt policies to promote stability and growth. Low interest loans to cash strapped governments for infrastructure investments.
