Themes and Issues in the Modern Global Economy Research Paper

Themes and Issues in the Modern Global Economy - Research Paper Example As a result, the need to venture into areas where the cost of production is cheaper and easier to market to other areas arises. Despite these merits, the political, economic, social, technological and environmental issues have to be put into consideration and optimally explored to ensure maximum profitability. The country which offers better marketing mix attributes has many multinational companies knocking to invest their resources in order to maximize profitability. One such country is China. The products to be bought are electronics mainly television sets and computers. These two are quite crucial in the everyday life of an American and the rapid technological improvements are making them quite dynamic. This dynamism allows the company to tap into the different market potentials with different marketing mix strategies put into efficient use. International Business International business activities affect many spheres of people’s daily lives. Whether one looks at the product s, services and the impact of each of these, the results are obvious; internationalization of business is imminent. The act of globalization makes business much easier as different agreements and trading blocs allow for greater and easier access to products and services at reduced or subsidized prices. This reduces the cost of production and increases a company’s profitability. Business restrictions are lessened every day with competition spreading on a global scale. The use of currencies is also being harmonized in some trade blocs such as the European Union with political relations being strengthened amongst the principal economic powers. The better relations ensure peace and stability; hence better global economic prospects. This further leads to better trades and economic relations that lead to sound competition and proper utilization of resources. Imports and exports have thus been key determinants of how well a country is performing in terms of its GDP growth and the le vel of economic freedom.