Technology Development and Market Globalization - Essay Example

Therefore, environmental, social and economic concerns are influenced by technological development globally. The development of modern technologies, IT communications influenced the operation of the global market. For example, by means of electronic communication the modern employees are able to work for two or even more companies, they can regulate their own schedule and as a result we come across a well-developed an integrated cosmopolitan, a more dynamic individual, who is able to integrate in the system of countries integration globally.

Question 2 Country factors to locate production In order to locate production in the global market, there is a need to take into account many different factors. For example, the importance of country factors cannot be denied. There is a need for firms operating at the local level to locate manufacturing activities in such a way, that it would focus on different economic, political, and cultural issues. Moreover, the relative factor costs play another critical role in such type of performance.

There are different regulations within a certain country, which may influence the national consumption of goods or production. For example, regulations on FDI or exchange rates changing are also essential for country factors considerations. Every country has its own system of values, factors, features and specific needs, which should be taken into account by the producers and manufacturers. Question 3 World financial system without IMF The important role of IMF in the global market cannot be denied.

The important sustainable function of IMF with regards to different global countries can be found in multilateral and bilateral surveillance, development of its lending programs, and the provision of technical assistance. In case IMF was absent, it would be impossible for the world financial system to conduct a dialogue between countries-members. Any financial system would be unable to determine from an independent perspective its advantages and disadvantages. This function is performed by IMF in the process of bilateral surveillance.

Under conditions of multilateral surveillance IMF determines financial spillovers from one country to another. There is a technical assistance of IMF and diagnostic actions implemented by this organization, otherwise the countries would be lacking of strategic development of macroeconomic and other structural policies (Kiggundu, 2002). Question 4 China in international business China is a great player globally. This country is being developed at a full pace and it is a well-known producer of 13% of world economic output and consumes nickel, copper and oil at the fullest extent (Kiggundu, 2002).

The role of China in WTO reflects the country’s ability to increase its export rates (for 29%). China is a great manufacturer and exporter of textile and electronics (Kiggundu, 2002). There are different spheres of business, trade and manufacturing, which are covered by China. There are future intentions of the country to export cars and airplanes. The global society is greatly interested in investments into this country. There is a favorable atmosphere in China for skilled professionals, their training and education.

There is an evident potential in the country, which is attractive for other global players. Question 5 Outsourcing Outsourcing is very