MAN 3025 Chapter Notes - Chapter 4: World Economy, Cultural Imperialism, International Trade
2 Jun 2015
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Introduction to globalization: globalization the trend of the world economy toward becoming a more interdependent system, time and distance have virtually collapsed. The shrinking of time and space as air travel and the electronic media have made it much easier for the people of the globe to communicate with one another. Low cost communications networks help create electronic global marketplace. Low cost transportation enable firms to create global markets, and facilitate the movement of people from country to country promoting a convergence of consumer tastes and preference. Small companies get started more easily and can manuevre faster. The increasing tendency of the economies of the world to interact with one another as one market instead of many national market. Interdependency: supporters believe that increased trade and cross-border investment signify. Higher consumer income and greater employment: negative effects. Job loss and environmental degradation: cultural imperialism of global media and multinational enterprises.
