Global Business Today by Charles W. L. Hill

By Charles W. L. Hill

Global enterprise Today is the confirmed selection for any foreign enterprise direction. It brings jointly the insights of now a group of practitioners, students, and award-winning teachers to give a modern and lifelike viewpoint of this multi-faceted box.

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S. S. news networks such as the BBC and Al Jazeera also have a global footprint. In any society, the media are primary conveyors of culture; as global media develop, we must expect the evolution of something akin to a global culture. A logical result of this evolution is the emergence of global markets for consumer products. Clear signs of this are apparent. It is now as easy to find a McDonald’s restaurant in Tokyo as it is in New York, to buy an iPad in Rio as it is in Berlin, and to buy Gap jeans in Paris as it is in San Francisco.

14 This goal was enshrined in the General Agreement on Tariffs and Trade. Under the umbrella of GATT, eight rounds of negotiations among member states worked to lower barriers to the free flow of goods and services. The most recent negotiations to be completed, known as the Uruguay Round, were finalized in December 1993. 1 summarizes the impact of GATT agreements on average tariff rates for manufactured goods. As can be seen, average tariff rates have fallen significantly since 1950 and now stand at about 4 percent.

If the Doha talks are ever completed, the biggest gain may come from discussion on agricultural products; average agricultural tariff rates are still about 40 percent, and rich nations spend some $300 billion a year in subsidies to support their farm sectors. 16 In addition to reducing trade barriers, many countries have also been progressively removing restrictions to foreign direct investment. 17 Such trends have been driving both the globalization of markets and the globalization of production.

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