Topic > Essay on Globalization in International Trade - 708

The recent liberalization of national financial markets, such as China and India, expands options for companies to accelerate global expansion. Not only do companies expand, but they also have the opportunity to make better use of resources. For example, Volvo car is produced in 38 different nations and states, achieving low production costs and high quality products by simply outsourcing to distribute the labor. A strong understanding of the local market will enable companies to target consumers, meeting their needs effectively and consistently. With this globalization of business, companies can focus “in the market for the market”. This model allows companies to reduce production and transportation costs by using local resources to create products for the local market. International business offers access to new customers, economic solutions and gathering of human resources. The growth of international business stimulates competition between companies and nations; we need to adapt and take advantage of innovations and productivity