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The emergence of the global market refers to the increasing interconnectedness of countries around the world and the resulting expansion of international trade and investment. This phenomenon has been driven by advances in technology transportation communication and the liberalization of trade policies. The emergence of the global market has had a significant impact on business organizations leading to the rise of multinational corporations and the emergence of global markets for goods and services. On a macroeconomic level the emergence of the global market has resulted in an increase in global economic growth and a decline in poverty.
The emergence of the global market has been facilitated by the following factors:
- Advances in technology such as the internet and mobile phones.
- The liberalization of trade policies such as the reduction of tariffs and the signing of free trade agreements.
- The growth of multinational corporations which are able to take advantage of global economies of scale and access new markets.
- The development of new transportation and communication infrastructure such as seaports and high-speed internet.
The emergence of the global market has had a profound impact on the way business is conducted. Business organizations are now able to access global markets take advantage of lower production costs and benefit from increased competition. This has resulted in increased productivity greater efficiency and higher profits for many businesses. On a macroeconomic level the emergence of the global market has resulted in increased economic growth improved standards of living and decreased poverty.
Janessa Nikolaus
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