Lecture International business (9e): Chapter 1 - Charles W.L. Hill - Trường Đại học Công nghiệp Thực phẩm Tp. Hồ Chí Minh
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International Business
9e
By Charles W.L. Hill
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Chapter 1
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What Is Globalization?
<sub>Globalization </sub>
<sub>- the shift toward a more </sub>
integrated and interdependent world
economy
<sub>The world is moving away from self-contained </sub>
national economies toward an
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What Is The
Globalization of Markets?
<sub>Historically distinct and separate national </sub>
markets are merging and creating the
“global market”
<sub>falling trade barriers make it easier to sell </sub>
globally
<sub>consumers’ tastes and preferences are </sub>
converging on some global norm
<sub>firms promote the trend by offering the same </sub>
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What Is The
Globalization of Production?
<sub>Firms source goods and services from </sub>
locations around the globe to capitalize on
national differences in the cost and quality
of
factors of production
like land, labor,
energy, and capital
<sub>Companies can </sub>
<sub>lower their overall cost structure </sub>
<sub>improve the quality or functionality of their </sub>
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Why Do We Need
Global Institutions?
<sub>Global institutions</sub>
<sub>manage, regulate, and police the global marketplace</sub>
<sub>promote the establishment of multinational treaties to </sub>
govern the global business system
<sub>General Agreement on Tariffs and Trade (GATT)</sub>
<sub>World Trade Organization (WTO)</sub>
<sub>International Monetary Fund (IMF)</sub>
<sub>World Bank</sub>
<sub>United Nations (UN)</sub>
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What Is Driving
Globalization?
<sub>Declining barriers to the free flow of goods, </sub>
services, and capital
<sub>average tariffs are now at just 4%</sub>
<sub>more favorable environment for FDI</sub>
<sub>global stock of FDI was $15.5 trillion in 2009</sub>
<sub>facilitates global production</sub>
<sub>Technological change </sub>
<sub>microprocessors and telecommunications</sub>
<sub>the Internet and World Wide Web</sub>
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