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International
chapter 1
11 cards·by perla
Globalization
the shift toward a more integrated and interdependent world economy
factors of production
like land, labor, energy, and capital
Global institutions
help manage, regulate, and police the global marketplace promote the establishment of
multinational treaties to govern the global business s
Examples
the General Agreement on Tariffs and Trade (GATT) the World Trade Organization (WTO) the
International Monetary Fund (IMF) the World Bank th
World Trade Organization
polices the world trading system makes sure that nation-states adhere to the rules laid down
in trade treaties promotes lower barriers to t
International Monetary Fund
maintains order in the international monetary system
World Bank
promotes economic development via low interest loans for infrastructure projects
United Nations
maintains international peace and security develops friendly relations among nations
cooperates in solving international problems and in pro
The G20
forum through which major nations tried to launch a coordinated policy response to the
2008-2009 global financial crisis
Four trends
The changing world output and world trade picture The changing foreign direct investment
picture The changing nature of the multinational en
Multinational enterprise
- any business that has productive activities in two or more countries