Globalization (Greenwood Guides to Business and Economics)

The contemporary era of globalization demonstrates that the local and global aspects of business and government are increasingly intertwined. This volume defines and makes sense of the workings of the global economy—and how it influences businesses and individuals. Each chapter identifies common questions and issues that have gained exposure in the popular media—such as outsourcing, the high cost of international travel, and the impact of a fast-growing China—to illustrate underlying drivers and mechanisms at work. Covering international trade, national wealth disparities (the haves vs. the have-nots), foreign investment, and geographical and cultural issues, and supported with illustrations, maps, charts, a glossary and timeline of key events,Globalization illuminates the dynamics of the global economy and informs readers of its profound impact on our daily lives.

The contemporary era of globalization demonstrates that the local and global aspects of business and government are increasingly intertwined. Over the past fifty years, international business has evolved from the realm of the largest multinational corporations to the base scenario; every business and every citizen who participates in economic activity—by creating, buying, and selling products and services—is now a member of the global economy. But moving our thinking and actions beyond the local sphere is both challenging and problematic; the international domain is more complex, and introduces a new dimension of risks and uncertainties. Yet it it also ripe for business opportunity and wealth creation for those who learn how to navigate in it.

Globalization defines and makes sense of the workings of the global economy—and how it influences businesses and individuals on a local scale. Each chapter identifies common questions and issues that have gained exposure in the popular media—such as outsourcing, the high cost of international travel, and the impact of a fast–growing China—to illustrate underlying drivers and mechanisms at work. Covering international trade, national wealth disparities (the haves vs. the have-nots), foreign investment, and geographical and cultural issues, and supported with illustrations, maps, charts, a glossary and timeline of key events, this volume illuminates the dynamics of the global economy and informs readers of its profound impact on our daily lives.

The contemporary era of globalization demonstrates that the local and global aspects of business and government are increasingly intertwined. Over the past fifty years, international business has evolved from the realm of the largest multinational corporations to the base scenario; every business and every citizen who participates in economic activity -- by creating, buying, and selling products and services -- is now a member of the global economy. But moving our thinking and actions beyond the local sphere is both challenging and problematic; the international domain is more complex, and introduces a new dimension of risks and uncertainties. Yet it it also ripe for business opportunity and wealth creation for those who learn how to navigate in it. Globalization defines and makes sense of the workings of the global economy -- and how it influences businesses and individuals on a local scale. Each chapter identifies common questions and issues that have gained exposure in the popular media -- such as outsourcing, the high cost of international travel, and the impact of a fast-growing China -- to illustrate underlying drivers and mechanisms at work. Covering international trade, national wealth disparities (the haves vs. the have-nots), foreign investment, and geographical and cultural issues, and supported with illustrations, maps, charts, a glossary and timeline of key events, this volume illuminates the dynamics of the global economy and informs readers of its profound impact on our daily lives. -- Publisher's Description The contemporary era of globalization demonstrates that the local and global aspects of business and government are increasingly intertwined. This volume defines and makes sense of the workings of the global economy and how it influences businesses and individuals. Each chapter identifies common questions and issues that have gained exposure in the popular media and such as outsourcing, the high cost of international travel, and the impact of a fast-growing China and to illustrate underlying drivers and mechanisms at work. Covering international trade, national wealth disparities (the haves vs. the have-nots), foreign investment, and geographical and cultural issues, and supported with illustrations, maps, charts, a glossary and timeline of key events, Globalization illuminates the dynamics of the global economy and informs readers of its profound impact on our daily lives. Contents......Page 7 Series Foreword by Wesley B. Truitt......Page 9 Acknowledgments......Page 13 1. Globalization: Yesterday and Today......Page 15 2. Globalization and Material Prosperity: What's at Stake?......Page 29 3. Why People Trade: The Economic Case for Free Trade......Page 51 4. Trade, Jobs, and Wages......Page 65 5. Alleged Exceptions to the Case for Free Trade......Page 83 6. The Balance of Trade and Trade Deficits......Page 113 7. The Institutions of Globalization......Page 131 8. Conclusion......Page 153 Glossary......Page 163 Selected Bibliography......Page 169 Index......Page 173 The contemporary era of globalization demonstrates that the local and global aspects of business and government are increasingly intertwined. This volume defines and makes sense of the workings of the global economyÑand how it influences businesses and individuals. Each chapter identifies common questions and issues that have gained exposure in the popular mediaÑsuch as outsourcing, the high cost of international travel, and the impact of a fast-growing ChinaÑto illustrate underlying drivers and mechanisms at work. Covering international trade, national wealth disparities (the haves vs. the ha Globalization : yesterday and today Globalization and material prosperity : what's at stake? Why people trade: the economics case for free trade Trade, jobs, and wages Alleged exceptions to the case for free trade The balance of trade and trade deficits The institutions of globalization Conclusion. Introduces globalization, describing its history and importance in the present era, and discusses such economic concepts as free trade, jobs and wages, balance of trade, trade deficits, and key financial institutions.