ARBUS301 Chapter Notes - Chapter 2: World Trade Organization, Infosys, General Agreement On Tariffs And Trade
26 Jan 2019
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Document Summary
Born global firms target a dozen or more countries within the first few years of launching the firm. Their flexibility helps serve foreign and domestic customers better. Born globals internationalize early for various reasons, some specializing in a product category for which demand is universal. Any firm of any size and resource base can participate actively in cross-border trade and investment. The opening case highlights important drivers and causes of market globalization. These include worldwide reduction of barriers to trade and investment, market liberalization and adoption of free markets, and advances in technology. Phase 1: enabled information flows between and within nations. Phase 2: western europe was the most industrialized world region. Europe companies such as nestle, siemens established foreign manufacturing plants by 1900. Phase 3: general agreement on tariffs and trade (gatt), which reduced barriers to international trade and investment. Realized that liberalized trade would stimulate better living standards. The gatt led to the formation of world trade.
