Unit 1 JournalThe 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. Yet, in addition to some significant cultural differences between the US and...
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