Globalization

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Everyone, from workers, countries, companies, and consumers all contribute and depend on each other in order to create a functioning and productive economy. These are the backbone of the world and are a main way in how globalization affects us.

Every sector relies on each other, regardless of the business, target market, or place of operation. This is how the economy generates revenue, and if a vital sector were to suddenly disappear, the resulting damage would be catastrophic. This is interdependence.

Who Relies on Who?

Each Other

Globalization

Factors Affecting a Country's Global Business Participation

Currency Exchange

Exchange rate stability (the stability of a country's currency) will affect it's ability to do international business.

Countries With The Weakest Currencies

Guinea (GNF)

Vietnamese Dong (VND)

Iran (IRR)

Russia (RUB)

Countries With The Strongest Currencies

Switzerland (CHF)

European Union (EUR)

United Kingdom (GBP)

United States (USD)

Market Size

The size of a market (a country and its potential buyers) will affect and attract foreign business towards itself.

Small Markets

Libya

Iceland

Kazakhstan

Large Markets

Indonesia

Infrastructure

Adequate infrastructure, such as transportation, logistics, and communication are crucial for efficient global trade and a country's ability to participate in international business.

Countries With Developing/Undeveloped Infrastructure

Laos

Mozambique

D.R. Congo

Countries With Developed Infrastructure

Japan

South Korea

Trade Policies

Government policies such as tariffs, trade agreements, and regulations, will influence the country's ability to participate in international business.

Countries With Open Trade Policies (With the US)

Israel

Saudi Arabia

Countries With Restrictive Trade Policies (With the US)

Iran

Cuba

North Korea

Economic Stability

The more stable a country, the higher potential it has to attract foreign investments

Unstable Countries

Myanmar

Venezuela

Syria

Central African Republic

Russia

Stable Countries

Germany

Jordan

Interdependence

Sectors

Logistics

Agriculture

Manufacturing

Information Technology

Economic

Who is affected?

Companies

Expended Market Access

Developing Regions

Africa

South Africa

Asia

Developed Regions

Europe

Oceania

North America

Increased Competition

Hyundai

Samsung

Saturated Markets

Drives Innovation

Cost Savings

Cheap Raw Materials

Corn

Gold

Oil

Lithium

Copper

Cheap Labour

Coca-Cola

Shell

Apple

PepsiCo

Workers

Working Conditions

Wage Suppression

Efficient Workers

Exploitation

Job Opportunities

Productive Workforce

Increased Employment

IBM

Ford

Nestle

Nike

Countries

Environmental Impact

Wildlife Destruction

Increased Resource Depletion

More Pollution

Cultural Exchange

Exchange of Cultures

Cultural Integration

Economic Growth

Access to Global Markets

Increased Trade

Examples

Brazil

China

India

United States

United Kingdom

Canada