Prepare a comprehensive response to the following questions in 750 – 1000 words (total word count for all responses.)
- What is globalization, and what are three specific traditional international trade theories that support the concept of globalization?
- How does each traditional international trade theory support the concept of globalization?
- What are the two major drivers of globalization? What are three examples of each driver? How does each driver contribute to expanding and/or accelerating globalization?
- What are five specific effects of globalization that affect your community and your organization? What is the name of your local community and/or area?
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What is globalization, and what are three specific traditional international trade theories that support the concept of globalization?
In definition, globalization is the process by which, people, companies and governments of different nations interact and integrate to form a global village aided by internet technology (Ervin and Smith, 2008). Globalization, for instance, through a web cam and web conferencing, a company in Asia can forge a business partnership with a company in Europe.
In this regard, there are three international theories that support the concept of globalization. These three theories include; the theory…