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International Business: World Trade Organisation, International Business and, Free Trade - Assignment Example

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The author of the "International Business: World Trade Organisation, International Business and, Free Trade" paper states that the world trade organization is an organization that is a global international organization, which deals with the rules regarding trade between nations…
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International Business: World Trade Organisation, International Business and, Free Trade
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Download file to see previous pages Globalization is referred to as the unification of the world into one entity. It captures the changes that take place in the world economy (Indabawa & Mpofu, 2006, p.136). Globalization is also referred to as the growing interdependence of the countries resulting from finance, trade, people, and ideas.

Many of the people have lost jobs, especially in America due to imports and as the production shifts abroad. Many of the employees got laid off. Most of the jobs that were sent overseas from the US were the employees who lost their jobs permanently.

International business is described as a business activity that crosses the national boundaries. The entities can be private or government or in certain cases it can be both. International business is categorized into four types. Foreign trades, portfolio investment, trade-in service and direct investment. In foreign trades, export and import take place. Goods are physically moved between countries. Export consists of merchandise that leaves a country whereas imports are those which are bought into the country. Exporting and importing comprises the largest fundamentals of international business. Countries also trade in services such as banking, insurance, hotels, travels, and transportation. Portfolio investments are referred to as financial investments made in foreign countries. The investor purchase debt or equity with the expectation of getting a financial return on the investment made. Direct investments are differentiated on the grounds of control. A firm can own a foreign subsidiary entirely or even partially, such as joint ventures with domestic or foreign firms (Ajami & Goddard, 2006, p.4).

International business has certain advantages and disadvantages in their mode of operations. The success behind the multinational companies is that they are able to overcome the disadvantages with their advantage.

This is perhaps the most important advantage that multinational companies enjoy. ...Download file to see next pagesRead More
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