As means of transportation and methods of communication bring people closer together in time and space, it is only natural that trade between nations should expand. Globalization is this process of making the goods and services of what would otherwise be considered faraway places easily accessible, cheap and abundant. We no longer need to rely on the food that is grown in our immediate vicinity, depending on the seasonal flux of what is or is not available. Bananas from South America, coffee from Brazil, wine from South Africa, tomatoes from Mexico, and on and on, fill out shops and we don’t even raise an eyebrow at the abundance.
Clothing, computers, electronics, household goods, jewelry, shoes, handbags, of course the list is endless. Just about everything we purchase can come from another country, or another continent. Many issues arise when international trade is so pervasive. How do we protect our own home grown businesses? How do we insure a decent wage for our own citizens? How do we know the goods we purchase from abroad do not rely on unethical business practices to turn a profit? How can we assure that our own products are given a fair chance to sell abroad? What effect does political turmoil, war, poverty, and other world events have on business? How can we minimize risk and maximize profits?
These and many other issues are raised when globalization and the new international world economy are being discussed.
