Lec. 3: The global Context Flashcards
What is globalization?
The process of international integration arising from the interchange ofworld views, products, ideas and other aspects ofculture
What are the dimensions of globalization?
Political
Economic
Social
Technological
Nb. other categorizations do exist.
What is implied by the notion “the world is flat”?
That world is integrated and easily manageable.
What is a Footloose industry?
An industry that can be placed anywhere, as such not having specific requirements to a country’s factor endowments.
What are Incoterms?
Standardized commercial terms, dealing with the obligations of cost, risk, and insurance of goods delivery.
Why isn’t the world flat?
10-15% of phone calls and investments are local
Why is the world spiky?
Innovation still happens in the west. Start-ups still mainly happen in Silicon Valley.
