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Paraphrase the following passage. For good practice, please include the proper APA citation in your response.

Today's business market can be best described as global, dynamic, and synergistic. Recently, the entire world has become a marketplace; therefore, business competition has increasingly crossed national boundaries. New technological breakthroughs and augmenting global business activities have intensified international business competition. Furthermore, the recent expansion of world markets encompassing the economic transformation in former socialist countries (for example, Russia and other eastern European countries), the economic liberalizations in China, and emerging economies in Asia (for example, South Korea, Taiwan, and Malaysia) and Latin America (for example, Argentina, Brazil, and Chile), has imposed new challenges on businesses. The present state of international business can be attributed to political, economic, social, and technological changes sweeping the world.

Culpan, R. (2002). Global business alliances : Theory and practice. Westport, CT, USA: Greenwood Publishing Group, Incorporated.

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Business in today's world is evolving worldwide. International business is now the norm, and competition between countries for new technology is tight. Political changes ...

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Paraphrase of a short passage