❖ component 零部件
❖ multinational companies ❖ shipment 装运
❖ joint-development ❖ living standards
❖ logistics 后勤（工作）；统筹安 排
❖ balance of payments ❖ protectionist policy
❖ And this in turn increase the trend of globalization
❖ Competition: force businesses to seek opportunities, develop a global strategy
❖ Deregulation. From the 1980s onwards (starting in the UK) many rules and regulations in business were removed, especially rules regarding foreign ownership. Privatisation also took place, and large areas of business were now open to purchase and/or take-over. This allowed businesses in one country to buy those in another. For example, many UK utilities, once government businesses, are owned by French and US businesses.
❖ Three important aspects of globalization: ❖ 1. The increasing importance of international trade ❖ 2. More and more multinational companies. ❖ 3. More and more businesses thinking about their strategy
Major factors affecting globalization
❖ Technological change: especially in communication easy transfer of data--- speed up the globalization
❖ The reduction of transportation costs: This is not just aircraft, but also ships. The development of containerization in the 1950s was a major breakthrough in goods handling, and there have been continuing improvements to shipping technology since then. Improve the developing environment fk
❖ deregulation 解除管制，撤销管 理
❖ tariff restrictions
❖ sweatshop
❖ quota restrictions
Definition of globalization
❖ Globalization is the growing integration of the world’s economy.
❖ To master some useful phrases and expressions concerning business activity in English
Key words and phrases
❖ globalization
❖ host country
❖ integration
❖ Consumer taste change: willing to buy foreign or new products. The arrival of global satellite television, for example, has exposed consumers to global advertising. Consumers are more aware of what is available in other countries, and are keen to give it a try.
Topic 8
Globalization and Business
❖ Time arrangement: 2 periods ❖ Aims:
❖ To learn the influence of globalization over business today and the definition of multi-national corporation.
❖ Globalization can also be defined as the process of increasing social and cultural inter-connectedness, political interdependence, and economic, financial and market integrations
❖ The growth of new market: especially the 'Tigers' of SE Asia eg Thailand. There has been high growth of incomes in these countries, which makes large consumer markets with money to spend. Indonesia, for example, whilst still not particularly rich, has some 350 myn consumers. Both India and China are very poor countries, but there are small middle classes who are doing very well and have money to spend. Although these groups are small in the context of the country, the overall populations are so huge (over 1 byn) that a small middle class adds up to many millions of consumers.