Description
AW 1 COMPLETE DISCUSSION
Globalization has resulted in greater interconnectedness among markets around the world and increased communication and awareness of business opportunities in the far corners of the globe. More investors can access new investment opportunities and study new markets at a greater distance than before.
Discuss how globalization has an effect on the factors of projection. What are some the barriers to international trade?
AW 2 REPLY TO DISCUSSION
Hello all.
I would believe that globalization could have a positive effect on the factors of projection. For instance, I think that a manufacturing company would find ways to ease their payroll and cost of production by outsourcing the production to countries where the cost of living is not as high as it is in the U.S. This actually has been the case in our country for quite some time now. I believe with globalization manufacturers have been able to stem the tide of growing costs in materials, labor, and production overall, allowing them to maintain a better profit margin and keep their shareholders happy.
As for barriers to international trade, I found through a Google search that there are tariffs, quotas and embargos. I believe that one of the more common barriers are tariffs. In essence, tariffs are taxes imposed by one country on another country for the allowance of exportation of their products to be sold in their country. I would think that if the imposed tariffs are extremely high, it would not be a wise business decision to export to that country because of potentially weak or non-existent profits. Quotas are more of a limitation on how much, or what kinds of products can be exported, and embargos are used as a form of punishment from one government to another, prohibiting trade all together, such as the embargo placed upon Cuba by the U.S.
AW 3 REPLY TO DISCUSSION
Globalization significantly impacts the factors of production by facilitating the movement of capital, labor, and technology across borders. With increased interconnectedness, businesses can access a broader pool of resources and talent, leading to more efficient production processes and potentially lower costs. Additionally, globalization fosters innovation and technological advancements as firms collaborate and compete on a global scale.
However, globalization also introduces barriers to international trade. Some of these barriers include:
1. **Tariffs and Trade Barriers**: Governments may impose tariffs, quotas, or other trade barriers to protect domestic industries or address political objectives. These barriers can increase the cost of imported goods and restrict market access for foreign firms.
2. **Cultural and Regulatory Differences**: Variation in cultural norms, legal systems, and regulatory environments across countries can pose challenges for businesses looking to expand internationally. Adapting products, services, and marketing strategies to different cultural contexts requires significant resources and expertise.
AW 4 COMPLETE DISCUSSION
Week 2: Political, Economic, and Legal Systems
Let’s discuss the political, economic, and legal systems of some countries around the world. Sharing how other countries approach their politics, handled their economy, and what laws govern them can be interesting in comparison to the United States.
Choose a foreign country.
Research and discuss the triumvirate of political, economic, and legal systems in the country that you chose.
Discuss how these factors can affect economic progress.
AW 5 REPLY TO DISCUSSION
Hello all.
The country I chose for this weeks discussion assignment is Cambodia. Cambodia is a country in Asia, located in the southwestern part of the Indochina peninsula. The country is bordered by Thailand to the west, Laos to the north, and Vietnam to its east. In 1953, Cambodia gained its independence from France and became a monarchy. Cambodia’s current Chief of State is King Norodom Sihamoni and its head of government is Prime Minister Hun Manet. Cambodia has a population of over 17,000,000(Michigan St. Univ., 2024).
POLITICAL:
Like the U.S., Cambodia has three branches of government; Executive, Judicial and Legislative. The executive branch consists of the King who has supreme authority and who appoints the Prime Minister, and the Prime Minister runs the government. The Judicial branch protects the rights and freedoms of the people of Cambodia, and the Legislative branch creates laws(Michigan St. Univ., 2024).
ECONOMIC:
Economically, Cambodia is considered an LDC(least developed country). This is a term used by the United Nations to denote a country’s low level of income and face severe structural impediments to sustainable development. Cambodia’s largest export are textile goods which represents %70 of their exported goods.
AW 6
LOG INTO MCGRAW HILL
Log into McGraw Hill
Snow@2018
