As the jobs of the first world make their way to the developing regions of the third world, the forces of globalization have had many unintended consequences. The loss of manufacturing jobs in the countries of the world and their movement to the lower paying developing “third world” has restructured the world economy. This brief assignment will explore the globalization phenomenon with an eye to outsourcing and the changes dynamics of the global economic community. Asking the question, what is protectionism and in which way does it affects International Business in the current economic crisis, we will analyze protectionism as the result of outsourcing. This analysis will utilize a case analysis and explore two countries which have embraced free trade and economic growth as a haven for outsourcing. China represents a unique blend of authoritarianism and capitalism leading to sustained and pronounced economic growth in one of the largest – and growing - economies in the world. Mexico represents a controversial source for many American jobs. In addition to a cross-comparative analysis of these outsourcing “source” countries, we will address criticisms of the globalization phenomenon including the rise of protectionism as a response to the flight of jobs overseas (Lee 1996; Bhagwati 2008).
Globalization, as it exists today, rests largely on the shoulders of neoliberal economics and the global entrenchment of capitalism as the dominant economic system in the world. Neo-liberalism, the belief in laissez-faire economics, was best articulated by Margaret Thatcher in the United Kingdom and Ronald Reagan in the United States in the 1980s. Outsourcing is an integral component of the globalization phenomenon and a key aspect of the global division of labour. Thomas Friedman, in his immensely popular book The World is Flat (2005), describes outsourcing as an integral component of the worldwide spread of capitalism and the global division of ...
Cite this document
(“International Business Essay Example | Topics and Well Written Essays - 3000 words - 14”, n.d.)
Retrieved from https://studentshare.net/miscellaneous/374839-international-business
(International Business Essay Example | Topics and Well Written Essays - 3000 Words - 14)
“International Business Essay Example | Topics and Well Written Essays - 3000 Words - 14”, n.d. https://studentshare.net/miscellaneous/374839-international-business.
International business allows companies to expand their achieve accelerated economic growth. An American company that turned its focus into international business to achieve rapid growth after a 15 year based on an organic
This means that companies to remain competitive will have to continuously examine the way they do business in countries other than their own and must be prepared to react swiftly to changing global trends. Understanding business environment of various countries is becoming increasingly important with globalisation.
esponse to the rising number as well as scope of multinational companies, numerous studies have already been conducted pertinent to the cross-cultural and national differences of the multinational organizations. Aside from this, the organization’s role and well as the values
Being the economic hub of the world, US own the major portion of the total investment in global capital market.
To illustrate, recent innovations in information technology and communication eradicated the geographical
f managers, politicians, and individuals within the international economic system exhibit different roles based upon which of these two items is being defined and/or discussed. As a means to understand these key differentiations that exist between the two terms, the proceeding
Union which failed to enact this legislation faced massive corruption cases which affected their international business relationships with other countries. In the early 2000’s Germany was also affected with such cases of bribery. It was concluded that corruption was holding
This essay will take this further and use theoretical reasoning perspective and relate it to how it has developed my personal understanding of the real business world.
Basically, in political economy, but also in a business setting, the theory of
Sierra Leone, a country based in West Africa, has a peculiar living style guided by its demographics that include an official population of 6, 190,280. For instance, because of the hybridity of its western and African styles, the
2 Pages(500 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic International Business for FREE!