Textbook
International Business: Competing In The Global Marketplace
Over the past 3 decades a fundamental shift has been occuring in the world economy. We have been moving away from a world in which national economies were relatively self-contained entities, isolated from each othe by barriers to cross-border trade and in vestment; by distance, time zones, and language; and by national differences in government regulation, culture, and business systems. We are moving toward a world in which barriers to cross-border trade and investment are declining; perceived distance is shrinking due to advances in transportation and telecommunications technology; material culture is starting to look similar the world over; and national economies are merging into an interpendent, integrated global economic system. The process by which this transformation is ocurring is commonly referred to as globalization. The rise of the Ecuadorian rose-growing industry, profiled in the opening case, is but one small example of the trend toward globalization.
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