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Assignment#1

This document discusses several topics related to international business and globalization. It begins by explaining how technological changes have enabled the globalization of markets and production by making transportation and communication more efficient. It then evaluates whether international business should have its own course of study compared to domestic business, concluding there are important differences that warrant separate examination. Next, it describes how the internet has greatly impacted international business and globalization by providing access to global markets and facilitating communication. Finally, it discusses potential implications if China becomes the world's largest economy by 2035, such as changes to the world trading system, monetary system, strategies of multinational corporations, and global commodity prices.

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42 views3 pages

Assignment#1

This document discusses several topics related to international business and globalization. It begins by explaining how technological changes have enabled the globalization of markets and production by making transportation and communication more efficient. It then evaluates whether international business should have its own course of study compared to domestic business, concluding there are important differences that warrant separate examination. Next, it describes how the internet has greatly impacted international business and globalization by providing access to global markets and facilitating communication. Finally, it discusses potential implications if China becomes the world's largest economy by 2035, such as changes to the world trading system, monetary system, strategies of multinational corporations, and global commodity prices.

Uploaded by

work.cescamonique
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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REPUBLIC OF THE PHILIPPINES

POLYTECHNIC UNIVERSITY OF THE PHILIPPINES


INTERNATIONAL BUSINESS TRADE
REPUBLIC OF THE PHILIPPINES
POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
INTERNATIONAL BUSINESS TRADE

1. How have changes in technology contributed to the globalization of markets and production?
Would the globalization of production and markets have been possible without these technological
changes?
Changes in technology is a huge impact in society as it made it easier for organizations to transport goods
efficiently and to communicate with stakeholders. E-commerce is also a great factor as online platforms make it
possible for businesses to reach global customers without the idea of making a physical presence
internationally. In terms of technology in manufacturing it was also a huge factor. It made the production
processes more efficient and affordable.

For me it’s not possible. Businesses need to keep up with society. As society is also changing to a modern
world, we also need to give it to demand. While some globalization might occur during the traditional means,
the speed and accessibility that technology brings to communication, production and transportation made these
modern-day markets and production.
2. “Ultimately, the study of international business is no different from the study of domestic business.
Thus, there is no point in having a separate course on international business.” Evaluate this statement.

There might be similarities between the two types of businesses but there are important differences that give
the reason for the two types of business to be separated. For example, is the global supply chains. This
requires complex logistics and topics including the distribution networks that are really different from domestic
operations. To also mention, there are cross-border and trade regulations that needs to be considered for
international business
3.How does the Internet affect international business activity and the globalization of the world
economy?

Internet affects international business and the globalization of the world drastically. It gives businesses global
market access to reach customers worldwide in the most efficient way. Speaking of communication,
REPUBLIC OF THE PHILIPPINES
POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
INTERNATIONAL BUSINESS TRADE

communication is also important to the stakeholders and business partners. With this decision making and
problem solving will be much easier if there is technology to make our lives easier.

4.If current trends continue, China may be the world’s largest economy by 2035. Discuss the possible
implications of such a development for
a. the world trading system.
b. the world monetary system.
c. the business strategy of today’s European and U.S.-based global corporations.
d. global commodity prices.

A. There can be huge competition and a threat to other global companies. It might change the game and
intensify this competition that might reshape the current global strategies and economy. Their power can also
shift the current trades and policies.

B.It can change how currency works worldwide. Their currency, which is the yuan, can be more important
internationally compared to the US dollar. This can also affect on how countries are using their currencies.
Their financial market can influence globally and that affects how money works globally. And lastly, I think it
would lead to changes in how financial organizations work.

C.European and U.S based corporations may need to adjust their business strategies if ti happens. They will
need to focus more on the Chinese market by adjusting also their products and services. They also need to
reconsider the number of products that they will release as more often Chinese products will be much more
profitable in the marker. This shift can force them to change do strategic realignment with giving more
importance to the Chinese market.

D.It could significantly impact global commodity prices. Given China's substantial demand for commodities like
oil, metals, agricultural products, and raw materials for its industries, its economic dominance could amplify
global demand for these resources. This increased demand might drive up commodity prices, influencing global
markets and supply chains. Additionally, China's economic policies and trade relationships could also affect the
pricing dynamics of various commodities, potentially reshaping global commodity markets and trade patterns.

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