Globalization: International Trade and World Trade Organization Essay

1.Describe how the humans deliverance is becoming more than integrated than forever before.The world-wide economy is becoming more integrated than ever before. The world carry on organization (WTO), instanter has 153 countries involved in more than 95 percent of the worlds trade. The global economy is dominated by countries in three regions Western europium, North America, and Asia. Europe is economic completelyy to form he biggest food market in the world. Under the Maastricht Treaty, which formally schematic the European Union (EU), the euro was adopted as a common currency among European countries with the goal to strengthen Europes position as an economic major power in the world. Among the Pacific Rim countries, lacquer dominated world at gotion toward the give up of the last century and with the worlds largest population and increasing industrialization, China is on its way to becoming the larges producer and consumer of the worlds goods.Asian countries have joine d the get together States, Australia, and Russia to form the Asia-Pacific Economic Cooperation (APEC) trade Group. Association of Southeast Asian Nations (ASEAN) brings in concert 10 developing nations and is aimed at pagan development and political security. The North American Trade Agreement (NAFTA) combined the economies of the United States, Canada and Mexico into one of the worlds largest craft bloc. And, as for the rest of the world with all the important developments, markets and competitors shaping the global environment, India for modelling with the fast growing economy and spacious population has become the worlds second largest online support, software developer and other services.2.Discuss what desegregation of the world economy means for man-to-man companies and their managers.Compared with only a few historic period ago opportunities are greater because the consummation toward free trade has opened up many formerly protected discipline markets. The potential for export and for making straight investment foreign is greater forthwith than ever before. The environment is more decompos able-bodied because todays manager oftentimes has to reckon with the challenges of doing business in countries with radically different cultures and coordinating globally dispersed opportunities.The environment is more competitive because in addition to domestic competitors the managers must deal with cost efficient overseas competitors. Companies twain large and small now intellection the world rather than a individual(a) country as their market and privation to identify the best strategy for competing in a global marketplace. Universal demand exist when the tastes and preferences of consumers in different counties with consider to a product are similar, creating steadfast pressure for a global strategy. Thus, managers pick up to make sure that their companies are able to adapt to different needs in different locations not just topically but gl obally.Irene B. Rosenfeld, the CEO of Kraft and oecumenical Foods, understood the importance of globalization and to economize the struggling company, aside from its North American market, she also focused on the overseas market. Krafts global expansion strategy targets 10 markets. Also, Kraft will focus on its overseas efforts and research and development for ten best selling brands which accounts for about 40% of Krafts international sales and over 60% of its profits.