Shifts in Global Economy-Free-Samples for Students-Myassignment

Question: Describe the Shifts in the World Economy over the last 30 years. What are the Implications of these shifts for International Businesses based in Great Britain? North America? Hong Kong? Answer: The world of economy has switched rapidly over the last 30 years. The global economy has moved to the national centered to the international context. The change is seen nit only in the context of the business, but also in the objectives and the strategies of the business. The business has crossed the border of government trades rules and regulation, culture, language, distance and the investments. The basic traits of the economy began to change after 1970, when the developing countries started to open their business in the global competitive market. The world economy started shifting from the dominance of the U.S and spread itself throughout the world (Knox, Agnew and McCarthy 2014). The developing countries, for example started taking the place in the business and the countries like Great Britain, North America started losing their ground in the manufacturing industries. The comparative advantages are no longer can be seen in the industries of these countries (Topik and Pomeranz 2014). The foreign investment trends have also been changed over the years. Though the shift as not created much trouble in the economical background of the America, but a huge change can be seen the growth of industrialization of the developing countries. The growing number of the medium and small sized multinational companies in the developing countries like Japan, India, South Korea needs to be cou nted as the global economical shift in the international business. The transformation in the economy on the global business context started from 1960 and flourished in its full form in the late 1970. Apart from the emergence of the small multinational companies and technologis in the developing countries, the diminish of the Communism in the Eastern Europe and the former Soviet Union Republic is considered to be the final shift in the global economy. It is found that many of the initial communist countries are committed to democratic politics and therefore are investing in the economy of the free market. Asia, countries in the Eastern Europe and the Latin America are seemed to share the same commitment for the present global economical trend (Cox 2012). The continuation of the trends can open up the opportunities in the international business. Similar implication can be seen in the business trends of the Great Britain and the North America. The North America and Great Britain are in the past found to be the dominant business entity in the world econ omy (Alford 2014). The shifts in the world economy have created a challenging and the competing perspective and context in terms of international business. However, the present business trend and the economy for the same are in favor of the cities like Hong Kong. The location of the city, vibrant labor and the declining influence for the U.S and Britains market are providing opportunities for the for the economical growth to the companies in Hong Kong. It can be concluded that in the late 1960s, the global economy was dominated by the U.S and Britain. The shifts in the economy for the global business has diminished the dominance and paved the way for the developing countries to make footprint in the international business. References: Alford, B.W., 2014.Britain in the World Economy since 1880. Routledge. Cox, M., 2012. Power shifts, economic change and the decline of the West?.International Relations,26(4), pp.369-388. Knox, P., Agnew, J.A. and McCarthy, L., 2014.The geography of the world economy. Routledge. Topik, S. and Pomeranz, K., 2014.The world that trade created: Society, culture and the world economy, 1400 to the present. Routledge.