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INTRODUCTION: GLOBALIZATION AND INTERNATIONAL …

1 Chapter 1 introduction : GLOBALIZATION AND INTERNATIONAL TRADEWe live in a world that is highly interconnected by a bewildering array of complexeconomic transactions, social and environmental problems, and INTERNATIONAL politicalcollaborations and conflicts. Examples from global economics are found in the news everyday. A decision by American policymakers to subsidize the production of ethanol, a form of gasolinecontaining an additive produced from corn, is seen by many as a key reason that grain prices arehigh around the world. The spectacular emergence of China as a major exporter ofmanufactured goods has affected wages in both rich and poor countries. As large corporations,such as Microsoft, Intel, Toyota, General Electric, and Siemens have expanded their investmentsin affiliates in many nations around the world, they have built global production networks thatshare technological knowledge across locations to produce increasingly complex goods thatcould be sold anywhere.

INTRODUCTION: GLOBALIZATION AND INTERNATIONAL TRADE We live in a world that is highly interconnected by a bewildering array of complex economic transactions, social and environmental problems, and international political ... complex business-to-business information networks to locate global sources.

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