THE NEW GLOBAL ECONOMIC ENVIRONMENT

Abstract

Globalization has emerged as an unavoidable process. Its impact upon different levels create different results. Therefore, the effects- of globalization on the world, on countries, on industries, and on firms must be examined separately. The principal worldwide effect of globalization is the increase in the volume of world trade. Its effects on countries have become apparent through the process of deregulation and the elimination of obstacles to trade, etc. At the industrial level, it creates factors such as the rapid development of technology and the realization of production through indusiries in different countries. Lastly, its principal effect on firms is the creation of a medium of competition whose intensity increases rapidly. For example, during the next two years, the 10 largest firms of today shall be completely replaced by others. Developing technology, practices of deregulation, regional powers and changing individual preferences shall constitute the dynamics of change. 

Keywords

• -
• THE NEW GLOBAL
• ENVIRONMENT
• ECONOMIC

References

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