Global Business and Trade

1387 Words Feb 7th, 2018 5 Pages
Introduction Throughout the past recent decades, the world has become entangled in an unstoppable process of globalization. The phenomenon is normally understood as a process by which the traditional barriers between the countries are gradually removed to allow the free circulation of natural resources, people, capitals, or even cultural values and traditions. The globalizing effort has had a multitude of impacts, such as the popularization of the western culture throughout the eastern hemisphere (through movies, music, fashion and so on), the increasing access to technologic innovations throughout the entire globe or the liberalization of the countries to international trade. In the specific context of trade, this is characterized by domestic imports and exports, with the scope of any state being that of maximizing exports and minimizing imports, in an effort to generate a positive trade balance and generate high revenues from exports. With the intensifying forces of globalization, more emphasis has fallen on liberalization in the meaning of eliminating the barriers to international business and trade. Still, as the countries continue to emphasis on their exports in the detriment of imports, trade and businesses have yet to be fully liberalized. Throughout the current project, a question is raised relative to what could or should be done in order to improve the overall global context of trade and businesses. Five specific…
Open Document