Long description
The figure shows the following information:
1. Driving forces of globalization:
Worldwide reduction of barriers to trade and investment
Market liberalization and adoption of free markets
Industrialization, economic development, and modernization
Integration of world financial markets
Advances in technology
2. Dimensions of market globalization:
Integration and interdependence of national economies
Rise of regional economic integration blocs
Growth of global investment and financial flows
Convergence of buyer lifestyles and preferences
Globalization of production activities
Globalization of services
3a. Firm-level consequences of market globalization: internationalization of the firm’s value chain:
Countless new business opportunities ...
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