Protectionism

1.1 Overview of “The world is flat” by Thomas. L. Friedman Friedman has divided the globalization history into three important parts as Globalization 1.0(1492-1800), Globalization 2.0 (1800-2000) and Globalization 3.0 (2000 onwards) where the world shrank from large to medium (country globalization), medium to small (companies globalization) and small to tiny (individual globalization) respectively. The author has stated the 10 factors that have played a crucial role in flattening the world as…

Since the end of World War II most of the first world countries eliminated protectionism and created free trade policies, a trend that is widespread internationally and is a consequence of globalization. World trade has grown enormously in recent years thanks to technological advances, most importantly the internet, that have significantly…

Johan Norberg wrote, ‘According to the United Nations Conference on Trade and Development, EU protectionism deprives developing countries of nearly $700 billion in export income a year. That's almost 14 times more than poor countries receive in foreign aid.’ Norberg is showing that even with aid, developing countries are still in a state of perpetual famine and lack of development as Western protectionism is causing them to lose billions of pounds in lost revenue each year, something which can…

21st century is a significant time frame for the entertainment industries in the South Korea. During the 1990s, South Korea was under pressure to liberalise their market, particularly the media industry (Shim, 2008). Eventually, the economic globalisation facilitated the blooming of its entertainment industry (Shim, 2008) by exporting their popular cultural to the world, which known as the Korean wave (Ravina, 2009). Entertainment industry is an important industry in South Korea, together with…

In less than 40 years, China has developed from a weak economy, and an impoverished society, to the world’s second largest economy by nominal Gross Domestic Product (GDP) and the largest by purchasing power parity. With a GDP recorded in 2014 to be worth 10360.10 billion US dollars that represents 16.71% of the world’s economy, China has earned its place as a member of BRICS - Brazil, Russia, India, China and South America – a term devised by O’Neil for five of the world’s fasted and largest…

Ⅲ. Consequences: where do companies save money when labor costs rise to the top? Could that be related on a long-term view? a) Manage making and increasing profits despite high labor costs in car industry, especially Toyota Labor cost is never a small part that influences the total cost in manufacturing industry, nor for all the industries. According to the latest EU labor cost statistic report , the labor cost in France (wage + benefits ) has raised from 31.2 euros in 2008 to 34.6 euros in…

Globalization is an economic, technological, social and cultural planetary scale process of increasing communication and interdependence among countries of the world uniting their markets, societies and cultures, through a series of social, economic change and policies that give them global perspective. Globalization is often identified as a dynamic process mainly caused by the societies living under democratic capitalism and liberal democracy, and have opened their doors to the information…

How Would You Assess the Overall Content of this Book? The thesis of The Fix, by John Tepperman, reflects the success of ten leaders, who used crises to socially engineer change. Additionally, their underlying use of this experiential leadership shows a commitment to realism. An example of this realism could be solution-based policies. With the main argument of the novel demonstrating that most “troubles wracking the world” stem from politicians’ ineffectiveness, rather than their policies…

Additionally, the leaders of any country are significant in the relationship of the role of the economic standpoint. Different leaders bring forth different experiences for the country and the global political economy. Similarly, China’s role in the past depended on pervious leader named, Mao Zedong and had many influences that impacted China. During the year, 1949, Zedong came into power for China and his intentions were driven by the method of communism (Yu, 2014). Thus, for communism to…

1.0 INTRODUCTION International diversity denotes a firm’s increased reliance on foreign markets as a means of growth and financial performance improvement (Zahra, Ireland et al. 2000). Basically, there are so many factors that influence the international business environment; which must be taken into consideration by companies expanding into foreign markets (Cravens and Piercy 2008). However, it is essential at this point to analyse the environmental factors that may influence the global…