![]() If USA and China have firms that produce the stuffed animal, but the production cost is lower in China, then the interest of both countries is China to perform the production, and the US will import the products. ![]() This means if two countries are producing the same product, but say country D produces the product at a lower cost than country C, then country D will be producing and export the product to country D. Globalization has enabled international trade, thus allowing different countries to utilize competitive advantages in terms of production. It is only through globalization that people, services, and goods get to move freely across the world, in a manner that is linked and smooth. All these are supported by information technology, with an aim of bringing economies of various countries together. The process is as a result of the investment, outsourced manufacturing and international trade. Globalization is simply the process through which integration and interaction of countries, companies, and people across the globe.
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