COMM 223 Chapter Notes - Chapter 19: World Trade Organization, International Trade, General Agreement On Tariffs And Trade
7 Apr 2017
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Document Summary
The global marketplace is shrinking quickly with the advent of. The world faster communication, transportation and financial flows. International trade has boomed over the past 3 decades. The number of multinational corporations in the world has grown from. As global trade grows, global competition is also intensifying. Foreign firms are expanding aggressively into new international markets and home markets are no longer as rich in opportunity. Few industries are now safe from foreign competition. Companies that go global face highly unstable governments and currencies, restrictive government policies and regulation, and high trade barriers. The dampened global economic environment has also created big global challenges and corruption is an increasing problem. Gains marketing, production, r&d and financial advantages not available to purely domestic competitors. The global firm sees the world as one market. It raises capital, obtains materials and components and manufactures and markets its goods wherever it can do the job best.
