Question

In: Economics

Discuss London and the evolution of international business and the world economy.

Discuss London and the evolution of international business and the world economy.

Solutions

Expert Solution

International business is other wise known as "Globalization. Regionalisation and globalization interlinks the economy of the various countries whole over the world. The international business leads a global transaction which mentions,

  • Good's trade
  • Technology
  • Services
  • Capital
  • Knowledge

The trade means mainly the transactions so,by the international business lead to the to the transactions of goods and services across the different countries.To led a greater globalization,there are mainly two factors,

  1. making of a "free trade" policy, which means that avoiding or eliminating the obstructions or barriers to make the trade between the countries easier
  2. technological invention or change such as, developments in communication,information processing that is, networking etc and also the transportation technologies.

The international business is studied through the "MNE" which stands for multinational enterprise and the company have the worldwide approach towards,

  • market
  • production
  • operations across the world.

The importance of international business involves,

  1. Nowadays,most of the companies re international companies or compete with the other international companies.
  2. The way of approaching the business is different for different countries
  3. The technology is developing in every sectors especially in communications and transportation
  4. By knowing the importance of international trade the government removes the barriers between the countries
  5. When globalization increases, competition also increases
  6. Cooperation between countries also increases on the transnational issues.

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