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    Globalization

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    Using a minimum of 350-words, prepare comprehensive responses to the following questions:

    a. What is globalization, and what are some of the traditional international trade theories that support the concept of globalization?
    b. List the major drivers of globalization and give three examples of each.
    c. Explain at least four effects of globalization that impact your community and your organization.
    d.
    What are some major regional trading blocs and specify at least two in your region of interest

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    Solution Preview

    a. What is globalization, and what are some of the traditional international trade theories that support the concept of globalization?

    Globalization refers to the shift toward a more integrated and interdependent world economy. Globalization has several different facets including the globalization of markets and the globalization of production. Although no one theory can explain the apparent pattern of international trade, together, the theories of:
    - Free Trade,
    - Life-Cycle,
    - Mercantilism,
    - Heckscher0Ohlin,
    - New Trade and
    - Porter's Theory do suggest which factors are important and can support the concept of globalization.

    b. ...

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