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Can you Describe the shift in the worlds economy over the past 30 years and give the implication of these shifts for international business in the global markert place?
Wiki User
∙ 10y ago
In one word: China. China has only emerged into the world market in the last 30 years, and has become a major player. Chinese workers will work in worse conditions for less pay than workers in almost any other country. China has since become a major exporter, and has started to take control of a large slice of the world economy.
Additionally, the Chinese are doing things with economics that the rest of the world has never tried. Because they have such a booming market economy, they are able to do things like charge the world's first export tariff, a tax exacted from their own businesses that ship out a certain good (in this case, bamboo chopsticks) to a certain country (Japan). This is a radical new solution to the problem of limited resources.
The Chinese are all over today's economy, which they were nowhere near 30 years ago. Another newbie to world trade: India.
Wiki User
∙ 14y ago
Wiki User
∙ 10y agoThe globalization of the past 30 years or so has been the cause of four main factors. These factors can be expanded to say more than 4 or less than 4, however for the purpose of answering this question in the best I know how is to use four ways.
There has been a new international division of labor. Manufacturing in the USA, Europe and Japan has been shifted to China, Indonesia, India and southeast Asia.
Secondly ther now is one global banking system. The internationalization of finance has been enormous.
Thirdly we have new technologies based on innovations such as robotics, microelectronics, computerization and biotechnology. The speed of creation and delivery has accelerated.
The fourth factor has been the growth of consumer markets. China is a perfect example of this consumer growth.
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