Globalization and International Business Essay

Total Length: 1061 words ( 4 double-spaced pages)

Total Sources: 4

Page 1 of 4

Unit 1 Journal



The development of the World Trade Organization has proved to be a landmark in the move towards globalization. This organization has sought the reduction of trade barriers among its members. This has facilitated both the flow of goods and the flow of capital between nations, two of the major drivers of globalization. This emphasis on freer global trade has contributed to globalization because it has allowed for companies and people in one country to become more dependent on the products and goods from other countries. The reduction of trade barriers has brought about globally integrated supply chains, and has brought about a much greater level of integration among societies, especially with respect to quality of life, where each society is now dependent on other societies for the current quality of life.



Over the past twenty years, trade barriers have been systematically reduced, though in recent years there have been threats to this reduction of trade barriers. Different countries have been drawn into the international community that might not have been there before, and the result of this has been an improvement in the quality of life in those countries, and improvements in the global economy as a whole (Barrios et al, 2009).





Unit 5



A lot of American companies want to do business in China, because of the overwhelming size of the Chinese market.

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Yet, in addition to some significant cultural differences between the US and China, there are also some major political and legal differences. For one, China is not a democracy, but rather a Communist country. While there are some elements of capitalism in its economy, by no means does China run a capitalist economy in the Western sense of the term (CIA World Factbook, 2018). Instead, it maintains a strong level of central control, especially over large enterprise. Not only does the central government control major businesses, but it is not elected, and does not serve the needs of the people, but rather it serves the vision that it has for the PRC in general. Thus, the institutions of law are also not the same as in the US. There is no particular separation between the executive branch of government and the judicial in China – if the US has issues with this because of presidential appointments, all judges in China are appointed by the central government and all are expected to perform according to the government\'s expectations.



Because the Chinese political system lacks transparency, and the appropriate checks and balances, it is also highly corrupt. The US is relatively corrupt – not in the manila envelope sort of way but through the buying of influence by lobby groups who finance campaigns. But China is even more corrupt, with direct bribery being quite common. According to.....

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References

Barrios, S., Huizinga, H., Laeven, L., & Nicodeme, G. (2009). International taxation and multinational firm local decisions. EU Economic Papers No. 356. Retrieved April 1, 2018 from http://ec.europa.eu/economy_finance/publications/pages/publication14171_en.pdf

CIA World Factbook (2018). China. Central Intelligence Agency. Retrieved April 1, 2018 from https://www.cia.gov/library/publications/the-world-factbook/geos/ch.html

Melewar, T. & Saunders, J. (1999). International corporate visual identity: Standardization or localization? Journal of International Business Studies. Vol. 30 (3) 583-598.

Transparency International. (2017). China. Transparency International . Retrieved April 1, 2018 from https://www.transparency.org/country/CHN
 

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