Globalization Of The Cross Border Trade And Investment...

â€Å"The process by which the perceived distance between the cross-border trade and investment opportunities are shrinking due to advances in transportation and telecommunications technology is known as globalization. Globalization not only affects the consumers but also organizations. Barriers to globalization include distance, time zones, languages, not to mention the national differences in government regulations, culture, and business systems. The bus known as globalization is driven by an organizations need to expand, seeking added revenues.Countries like China India with a growing middle classes see leisure time as increasingly essential. Countries growing faster than China include Thailand, Vietnam, Philippines, Indonesia, Singapore as well as a few countries on the african continent. As a world economy and monetary system merge more organizations are taking advantage of the new global customers produced by globalization. By dispersing different activities around the globe to where they can be performed most efficiently, and then coordinating the entire production process, companies can deliver products to american consumers at much lower prices than would otherwise be possible. The companies that are best able to customize marketing strategies, product features, and operating practices to best match conditions in each particular country are best equipped in globalization.† (Hill, 2009) â€Å"Advances in technology lower transportation costs and the rise of skilledShow MoreRelatedHow Globalization Affects Developing Countries?1504 Words   |  7 PagesHow Globalization Affects Developed Countries The phenomenon of globalization began in a primitive form when humans first settled into different areas of the world; however, it has shown a rather steady and rapid progress in the recent times and has become an international dynamic which, due to technological advancements, has increased in speed and scale, so that countries in all five continents have been affected and engaged. What Is Globalization? Globalization is defined as a process which, basedRead MoreCharacteristics Of Economic Globalization893 Words   |  4 Pages Economic Globalization: An Analysis of Main Features and Effects Economic globalization refers to the â€Å"increasing interdependence of world economies† (Shangquan, 2000), as a result of free movement of goods, services, technology, capital, and information between countries and across borders. It is one of the three main areas of globalization; economic globalization moves at an increasingly fast pace as movement across borders progresses. While economic globalization has had many benefits and positiveRead MoreGlobalization : Globalization And Globalization Essay1009 Words   |  5 Pagesfocused on the economic side. However, it has been expanded recently. Activities such as culture, media, and technology now are becoming parts of globalisation. 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