Question

the following statement :

International business and globalisation have changed the financial and economic climate of the world into a centralised marketplace that allows access to all global

stakeholders. It provided a pool of products and services, previously not available to all global customers or consumers, with the touch of a button. It allowed

governments to engage on a regular basis in terms of trade and trade-related issues and to form bilateral trade agreements in the interest of all stakeholders.

1.1 In your opinion, why is international business and trade so important to South Africa from a political, economic and social perspective? Use

practical examples to substantiate your answer. (10)

(Tip: consult various current sources of information to form a wellstructured and rounded answer.)

Answer 1