Essay
Introduction about Globalization of Business :
A business can be a success locally and have a strong local following but stretching that business further with the globalization of business can take it to another level. Business globalization, also referred to as international business, refers to the increased mobility of goods, services, technology, and capital throughout the world, goods and services created in one location are more commonly being found throughout the world.
In 2000, the International Monetary Fund (IMF) identified four basic aspects of globalization: trade and transactions, capital and investment movements, migration and movement of people and the dissemination of knowledge
International Trade relations :
International Trade is usually referred to the exchange of goods, and services across international borders or territories. In most countries, it represents a significant share of gross domestic product (GDP). In 2010, the value of international trade achieved 19 trillion (current US) dollars, i.e. about 30% of the world GDP. That is, about one third of the produced goods and services are exchanged internationally around the world.
What is its Importance ?
According to "Global Policy Forum", till 2030, 60% of the world economy be exchanged internationally. That is the share of the rest of the world in each national economy will be more than the share of his own domestic economy. Many current evidences are in line with this prediction. For example, either country in the world is now member of, at least, one international trade agreement. In such circumstances, domestic economy will be affected more and more by the world economy. That is, the level of income, employment, wages, growth, and development in a country is not only a result of its domestic policies, but also determined by its position in the world economy. No market is spared by this fact. Consequently, a good knowledge of International Economics becomes vital for any economist.
A business can be a success locally and have a strong local following but stretching that business further with the globalization of business can take it to another level. Business globalization, also referred to as international business, refers to the increased mobility of goods, services, technology, and capital throughout the world, goods and services created in one location are more commonly being found throughout the world.
In 2000, the International Monetary Fund (IMF) identified four basic aspects of globalization: trade and transactions, capital and investment movements, migration and movement of people and the dissemination of knowledge
International Trade relations :
International Trade is usually referred to the exchange of goods, and services across international borders or territories. In most countries, it represents a significant share of gross domestic product (GDP). In 2010, the value of international trade achieved 19 trillion (current US) dollars, i.e. about 30% of the world GDP. That is, about one third of the produced goods and services are exchanged internationally around the world.
What is its Importance ?
According to "Global Policy Forum", till 2030, 60% of the world economy be exchanged internationally. That is the share of the rest of the world in each national economy will be more than the share of his own domestic economy. Many current evidences are in line with this prediction. For example, either country in the world is now member of, at least, one international trade agreement. In such circumstances, domestic economy will be affected more and more by the world economy. That is, the level of income, employment, wages, growth, and development in a country is not only a result of its domestic policies, but also determined by its position in the world economy. No market is spared by this fact. Consequently, a good knowledge of International Economics becomes vital for any economist.