COMMERCE 4SA3 Chapter 1: chapter 1; globalization
24 Jan 2019
School
Department
Course
Professor
Document Summary
Globalization: shift to a more integrated and interdependent world economy. The process by which barriers to cross-border trade and investment are tumbling, perceived distance is shrinking, material culture is starting to look similar and national economic are merging into an interdependent global economic system. According to 2014 press release, daily volumes in foreign exchange market averaged. We live in a world where symbols of material & popular culture are global (i. e. mcdonalds) and products are made from inputs that come from all over the world. Some people protest against it because it can cause things like unemployment in developed countries. Businesses favour how they can sell around the world and reduce input costs. The concept was refined in u. s. and now operates in more than 60 countries. It"s had an impact on how people consume coffee and the way that it"s produced (i. e. free trade coffee beans promoting social responsibility)
