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Why has international business globalization grown rapidly in the last 10 years?

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Why has international business/globalization grown rapidly in the last 10 years? What is your estimate of globalization growth/decline in the next decade? What will be the major problems/opportunities faced by multinational companies?

(Please use the book "International Business Environments and Operations" written by John D. Daniels, Lee H. Radebaugh and Daniel P. Sullivan, published by earson Education International for references).

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This solution discusses the spread of globalization in 436 words with three references.

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Why international business globalization has grown rapidly over the past decade:

International business has in the past decade since 2001 grown rapidly at unprecedented rate reaching its peak in 2008 before the recession hit hard when consumer spending was at its peak globally. There are various factors that have paid an important role in this growth over the past decade. These are, market liberalization which have reduced to protectionism in big markets such as China and India opening them up for business. This has resulted to businesses sourcing some of its activities to this low wage countries to reduce costs of doing business; rapid development of digital communication and ecommerce. The internet has grown rapidly over the past ten years lowering the cost of communication and getting information concerning business prospects. This digital ...

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