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InternationalBusiness7e
byCharlesW.L.HillMcGraw-Hill/Irwin Copyright©2009byTheMcGraw-HillCompanies,Inc.Allrightsreserved.InternationalBusiness7e
McGrChapter1
GlobalizationChapter1WhatIsGlobalization?Theworldismovingawayfromself-containednationaleconomiestowardaninterdependent,integratedglobaleconomicsystemGlobalizationreferstotheshifttowardamoreintegratedandinterdependentworldeconomyGlobalizationhastwofacets:1)theglobalizationofmarkets2)theglobalizationofproductionWhatIsGlobalization?TheworlTheGlobalizationOfMarketsTheglobalizationofmarketsreferstothemergingofhistoricallydistinctandseparatenationalmarketsintoonehugeglobalmarketplaceInmanyindustries,itisnolongermeaningfultotalkaboutthe“Germanmarket”orthe“Americanmarket”Instead,thereisonlytheglobalmarketTheGlobalizationOfMarketsThTheGlobalizationOfMarketsFallingtradebarriersmakeiteasiertosellinternationallyThetastesandpreferencesofconsumersareconvergingonsomeglobalnormFirmshelpcreatetheglobalmarketbyofferingthesamebasicproductsworldwideTheGlobalizationOfMarketsFaClassroomPerformanceSystemTheshifttowardamoreintegratedandinterdependentworldeconomyisreferredtoasa)economicintegrationb)economicinterdependencyc)globalizationd)internationalizationClassroomPerformanceSystemThTheGlobalizationOfProductionTheglobalizationofproductionreferstothesourcingofgoodsandservicesfromlocationsaroundtheglobetotakeadvantageofnationaldifferencesinthecostandqualityoffactorsofproductionlikeland,labor,andcapitalCompaniescompetemoreeffectivelybyloweringtheiroverallcoststructureorimprovingthequalityorfunctionalityoftheirproductofferingTheGlobalizationOfProductioClassroomPerformanceSystemThemergingofhistoricallydistinctandseparatenationalmarketsintoonehugeglobalmarketplaceisknownasa)globalmarketfacilitationb)cross-bordertradec)supranationalmarketintegrationd)theglobalizationofmarketsClassroomPerformanceSystemThClassroomPerformanceSystemFirmsthatareinvolvedininternationalbusinesstendtobea)largeb)smallc)medium-sizedd)large,small,andmedium-sizedClassroomPerformanceSystemFiTheEmergenceOfGlobalInstitutionsInstitutionsareneededto:helpmanage,regulate,andpolicetheglobalmarketplacepromotetheestablishmentofmultinationaltreatiestogoverntheglobalbusinesssystemTheEmergenceOfGlobalInstitTheEmergenceOfGlobalInstitutionsInstitutionscreatedoverthepasthalfcenturyinclude:theGeneralAgreementonTariffsandTrade(GATT)theWorldTradeOrganization(WTO)theInternationalMonetaryFund(IMF)theWorldBanktheUnitedNations(UN)TheEmergenceOfGlobalInstitTheEmergenceOfGlobalInstitutionsTheWorldTradeOrganization(likeitspredecessorGATT)isprimarilyresponsibleforpolicingtheworldtradingsystemandmakingsurethatnation-statesadheretotheruleslaiddownintradetreatiessignedbyWTOmembersIn2007,the150nationsthataccountedfor97%ofworldtradewereWTOmembersTheWTOpromoteslowerbarrierstotradeandinvestmentTheEmergenceOfGlobalInstitTheEmergenceOfGlobalInstitutionsTheInternationalMonetaryFundandtheWorldBankwerecreatedin1944TheIMFwasestablishedtomaintainorderintheinternationalmonetarysystemTheWorldBankwasestablishedtopromoteeconomicdevelopmentTheEmergenceOfGlobalInstitTheEmergenceOfGlobalInstitutionsTheUnitedNationswasestablishedin1945to:maintaininternationalpeaceandsecuritydevelopfriendlyrelationsamongnationscooperateinsolvinginternationalproblemsandinpromotingrespectforhumanrightsbeacenterforharmonizingtheactionsofnationsTheEmergenceOfGlobalInstitClassroomPerformanceSystemWhichisnotafactorofproduction?a)tradeb)landc)capitald)energyClassroomPerformanceSystemWhDriversOfGlobalizationTwomacrofactorsunderliethetrendtowardgreaterglobalization:thedeclineinbarrierstothefreeflowofgoods,services,andcapitalthathasoccurredsincetheendofWorldWarIItechnologicalchangeDriversOfGlobalizationTwomDecliningTradeAnd
InvestmentBarriersInternationaltradeoccurswhenafirmexportsgoodsorservicestoconsumersinanothercountryForeigndirectinvestment(FDI)occurswhenafirminvestsresourcesinbusinessactivitiesoutsideitshomecountryAfterWorldWarII,advancedcountriesmadeacommitmenttolowerbarrierstotradeandinvestmentSince1950,averagetariffshavefallensignificantlyandarenowatabout4%CountrieshavealsobeenopeningmarketstoFDIDecliningTradeAnd
InvestmenClassroomPerformanceSystemThesourcingofgoodandservicesfromaroundtheworldtotakeadvantageofnationaldifferencesinthecostandqualityoffactorsofproductioniscalleda)economiesofscaleb)theglobalizationofproductionc)globalintegrationd)globalsourcingClassroomPerformanceSystemThDecliningTradeAnd
InvestmentBarriersTable1.1:AverageTariffRatesonManufacturedProductsasPercentofValueDecliningTradeAnd
InvestmenDecliningTradeAnd
InvestmentBarriersLowerbarrierstotradeandinvestmentmean:thatfirmscanviewtheworld,ratherthanasinglecountry,astheirmarketthatfirmscanbaseproductionintheoptimallocationforthatactivityDecliningTradeAnd
InvestmenClassroomPerformanceSystemWhichorganizationisresponsibleforpolicingtheworldtradingsystem?a)theInternationalMonetaryFundb)theUnitedNationsc)theWorldTradeOrganizationd)theWorldBankClassroomPerformanceSystemWhTheRoleOfTechnologicalChangeTechnologicalchangehasmadetheglobalizationofmarketsarealityImportantadvanceshaveoccurredin:microprocessorsandtelecommunicationstheInternetandWorldWideWebtransportationtechnologyTheRoleOfTechnologicalChanTheRoleOfTechnologicalChangeImplicationsoftechnologicalchangefortheglobalizationofproductioninclude:lowertransportationcoststhatenablefirmstodisperseproductiontoeconomical,geographicallyseparatelocationslowerinformationprocessingandcommunicationcoststhatenablefirmstocreateandmanagegloballydispersedproductionsystemsTheRoleOfTechnologicalChanTheRoleOfTechnologicalChangeImplicationsoftechnologicalchangefortheglobalizationofmarketsinclude:lowcostglobalcommunicationsnetworkshelpcreateelectronicglobalmarketplacelow-costtransportationhelpcreateglobalmarketsglobalcommunicationnetworksandglobalmediaarecreatingaworldwideculture,andaglobalmarketforconsumerproductsTheRoleOfTechnologicalChanTheChangingDemographics
OfTheGlobalEconomyTherehasbeenadrasticchangeinthedemographicsoftheworldeconomyinthelast30yearsFourtrendsareimportant:theChangingWorldOutputandWorldTradePicturetheChangingForeignDirectInvestmentPicturetheChangingNatureoftheMultinationalEnterprisetheChangingWorldOrderTheChangingDemographics
OfTheChangingWorldOutput
AndWorldTradePictureIn1960,theUnitedStatesaccountedforover40%ofworldeconomicactivityBy2006,theUnitedStatesaccountedforlessthan20%ofworldeconomicactivityAsimilartrendoccurredinotherdevelopedcountriesTheshareofworldoutputaccountedforbydevelopingnationsisrisingandisexpectedtoaccountformorethan60%ofworldeconomicactivityby2020TheChangingWorldOutput
AndTheChangingWorldOutput
AndWorldTradePictureTable1.2:TheChangingDemographicsofWorldGDPandTradeTheChangingWorldOutput
AndTheChangingForeignDirect
InvestmentPictureInthe1960s,U.S.firmsaccountedforabouttwo-thirdsofworldwideFDIflowsToday,theUnitedStatesaccountsforlessthanone-fifthofworldwideFDIflowsOtherdevelopedcountrieshavefollowedasimilarpatternIncontrast,theshareofFDIaccountedforbydevelopingcountrieshasrisenfromlessthan2%in1980toalmost12%in2005Developingcountries,especiallyChina,havealsobecomepopulardestinationsforFDITheChangingForeignDirect
ITheChangingForeignDirect
InvestmentPictureFigure1.2:PercentageShareofTotalFDIStock1980-2005
TheChangingForeignDirect
ITheChangingForeignDirect
InvestmentPictureFigure1.3:FDIInflows1988-2006TheChangingForeignDirect
IClassroomPerformanceSystemWhatisthesinglemostimportantinnovationtotheglobalizationofmarketsandproduction?a)advancesintransportationtechnologyb)thedevelopmentofthemicroprocessorc)advancesincommunicationd)theInternetClassroomPerformanceSystemWhTheChangingNatureOf
TheMultinationalEnterpriseAmultinationalenterprise(MNE)isanybusinessthathasproductiveactivitiesintwoormorecountriesSincethe1960s,therehasbeenariseinnon-U.S.multinationals,andagrowthofmini-multinationalsTheChangingNatureOf
TheMuTheChangingWorldOrderManyformerCommunistnationsinEuropeandAsiaarenowcommittedtodemocraticpoliticsandfreemarketeconomiesandso,createnewopportunitiesforinternationalbusinessesChinaandLatinAmericaarealsomovingtowardgreaterfreemarketreformsTheChangingWorldOrderManyfTheGlobalEconomyOf
TheTwenty-firstCenturyTheworldismovingtowardamoreglobaleconomicsystem,butglobalizationisnotinevitableGlobalizationalsobringsriskslikethefinancialcrisisthatsweptthroughSouthEastAsiainthelate1990sTheGlobalEconomyOf
TheTweClassroomPerformanceSystemWhichofthefollowingtrendsistrue?a)theUnitedStatesisaccountingforagreaterpercentageofworldtradethaneverbeforeb)theUnitedStatesisaccountingforagreaterpercentageofforeigndirectinvestmentthaneverbeforec)theshareofworldtradeaccountedforbydevelopingcountriesisrisingd)theshareofforeigndirectinvestmentbydevelopingcountriesisdecliningClassroomPerformanceSystemWhTheGlobalizationDebateIstheshifttowardamoreintegratedandinterdependentglobaleconomyagoodthing?Supportersbelievethatincreasedtradeandcross-borderinvestmentmeanlowerpricesforgoodsandservices,greatereconomicgrowth,higherconsumerincome,andmorejobsCriticsworrythatglobalizationwillcausejoblosses,environmentaldegradation,andtheculturalimperialismofglobalmediaandMNEsTheGlobalizationDebateIsthAnti-GlobalizationProtestsMorethan40,000anti-globalizationprotesterstooktothestreetattheWTOmeetinginSeattlein1999ProtestersnowregularlyshowupatmostmajormeetingsofglobalinstitutionsAnti-GlobalizationProtestsMorGlobalization,Jobs,AndIncomeGlobalizationcriticsarguethatfallingbarrierstotradearedestroyingmanufacturingjobsinadvancedcountriesSupportersofglobalizationcontendthatthebenefitsofthistrendoutweighthecosts—thatcountrieswillspecializeinwhattheydomostefficientlyandtradeforothergoods—andallcountrieswillbenefitGlobalization,Jobs,AndIncomGlobalization,LaborPolicies,
AndTheEnvironmentGlobalizationcriticsarguethatfirmsavoidcostlyeffortstoadheretolaborandenvironmentalregulationsbymovingproductiontocountrieswheresuchregulationsdonotexist,orarenotenforcedGlobalizationsupportersclaimthattougherenvironmentalandlaborstandardsareassociatedwitheconomicprogress,soascountriesgetricherfromfreetrade,theygettougherenvironmentalandlaborregulationsGlobalization,LaborPolicies,GlobalizationAnd
NationalSovereigntyCriticsofglobalizationworrythattoday’sinterdependentglobaleconomyisshiftingeconomicpowerawayfromnationalgovernmentstowardsupranationalorganizationsliketheWTO,theEU,andtheUNSupportersofglobalizationcontendthatthepoweroftheseorganizationsislimitedtowhatnation-statesagreetogrant,andthatthepoweroftheorganizationsliesintheirabilitytogetcountriestoagreetofollowcertainactionsGlobalizationAnd
NationalSoGlobalizationAndTheWorld’sPoorCriticsofglobalizationarguethatthegapbetweenrichnationsandpoornationsisgettingwiderSupportersofglobalizationclaimthatthebestwayforthepoornationstoimprovetheirsituationistoreducebarrierstotradeandinvestmentandimplementeconomicpoliciesbasedonfreemarketeconomies,andtoreceivedebtforgivenessfordebtsincurredundertotalitarianregimesGlobalizationAndTheWorld’sClassroomPerformanceSystemWhichoftheseisnotaconcernofanti-globalizationprotesters?a)globalizationraisesconsumerincomeb)globalizationcontributestoenvironmentaldegradationc)globalizationiscausingalossofmanufacturingjobsindevelopingcountriesd)globalizationimpliesalossofnationalsovereigntyClassroomPerformanceSystemWhManagingInTheGlobalMarketplaceAninternationalbusinessisanyfirmthatengagesininternationaltradeorinvestmentManagingInTheGlobalMarketpManagingInTheGlobalMarketplaceManaginganinternationalbusinessdiffersfrommanagingadomesticbusinessbecause:countriesaredifferenttherangeofproblemsconfrontedinaninternationalbusinessiswiderandtheproblemsmorecomplexthanthoseinadomesticbusinessfirmshavetofindwaystoworkwithinthelimitsimposedbygovernmentinterventionintheinternationaltradeandinvestmentsysteminternationaltransactionsinvolveconvertingmoneyintodifferentcurrenciesManagingInTheGlobalMarketpInternationalBusiness7e
byCharlesW.L.HillMcGraw-Hill/Irwin Copyright©2009byTheMcGraw-HillCompanies,Inc.Allrightsreserved.InternationalBusiness7e
McGrChapter1
GlobalizationChapter1WhatIsGlobalization?Theworldismovingawayfromself-containednationaleconomiestowardaninterdependent,integratedglobaleconomicsystemGlobalizationreferstotheshifttowardamoreintegratedandinterdependentworldeconomyGlobalizationhastwofacets:1)theglobalizationofmarkets2)theglobalizationofproductionWhatIsGlobalization?TheworlTheGlobalizationOfMarketsTheglobalizationofmarketsreferstothemergingofhistoricallydistinctandseparatenationalmarketsintoonehugeglobalmarketplaceInmanyindustries,itisnolongermeaningfultotalkaboutthe“Germanmarket”orthe“Americanmarket”Instead,thereisonlytheglobalmarketTheGlobalizationOfMarketsThTheGlobalizationOfMarketsFallingtradebarriersmakeiteasiertosellinternationallyThetastesandpreferencesofconsumersareconvergingonsomeglobalnormFirmshelpcreatetheglobalmarketbyofferingthesamebasicproductsworldwideTheGlobalizationOfMarketsFaClassroomPerformanceSystemTheshifttowardamoreintegratedandinterdependentworldeconomyisreferredtoasa)economicintegrationb)economicinterdependencyc)globalizationd)internationalizationClassroomPerformanceSystemThTheGlobalizationOfProductionTheglobalizationofproductionreferstothesourcingofgoodsandservicesfromlocationsaroundtheglobetotakeadvantageofnationaldifferencesinthecostandqualityoffactorsofproductionlikeland,labor,andcapitalCompaniescompetemoreeffectivelybyloweringtheiroverallcoststructureorimprovingthequalityorfunctionalityoftheirproductofferingTheGlobalizationOfProductioClassroomPerformanceSystemThemergingofhistoricallydistinctandseparatenationalmarketsintoonehugeglobalmarketplaceisknownasa)globalmarketfacilitationb)cross-bordertradec)supranationalmarketintegrationd)theglobalizationofmarketsClassroomPerformanceSystemThClassroomPerformanceSystemFirmsthatareinvolvedininternationalbusinesstendtobea)largeb)smallc)medium-sizedd)large,small,andmedium-sizedClassroomPerformanceSystemFiTheEmergenceOfGlobalInstitutionsInstitutionsareneededto:helpmanage,regulate,andpolicetheglobalmarketplacepromotetheestablishmentofmultinationaltreatiestogoverntheglobalbusinesssystemTheEmergenceOfGlobalInstitTheEmergenceOfGlobalInstitutionsInstitutionscreatedoverthepasthalfcenturyinclude:theGeneralAgreementonTariffsandTrade(GATT)theWorldTradeOrganization(WTO)theInternationalMonetaryFund(IMF)theWorldBanktheUnitedNations(UN)TheEmergenceOfGlobalInstitTheEmergenceOfGlobalInstitutionsTheWorldTradeOrganization(likeitspredecessorGATT)isprimarilyresponsibleforpolicingtheworldtradingsystemandmakingsurethatnation-statesadheretotheruleslaiddownintradetreatiessignedbyWTOmembersIn2007,the150nationsthataccountedfor97%ofworldtradewereWTOmembersTheWTOpromoteslowerbarrierstotradeandinvestmentTheEmergenceOfGlobalInstitTheEmergenceOfGlobalInstitutionsTheInternationalMonetaryFundandtheWorldBankwerecreatedin1944TheIMFwasestablishedtomaintainorderintheinternationalmonetarysystemTheWorldBankwasestablishedtopromoteeconomicdevelopmentTheEmergenceOfGlobalInstitTheEmergenceOfGlobalInstitutionsTheUnitedNationswasestablishedin1945to:maintaininternationalpeaceandsecuritydevelopfriendlyrelationsamongnationscooperateinsolvinginternationalproblemsandinpromotingrespectforhumanrightsbeacenterforharmonizingtheactionsofnationsTheEmergenceOfGlobalInstitClassroomPerformanceSystemWhichisnotafactorofproduction?a)tradeb)landc)capitald)energyClassroomPerformanceSystemWhDriversOfGlobalizationTwomacrofactorsunderliethetrendtowardgreaterglobalization:thedeclineinbarrierstothefreeflowofgoods,services,andcapitalthathasoccurredsincetheendofWorldWarIItechnologicalchangeDriversOfGlobalizationTwomDecliningTradeAnd
InvestmentBarriersInternationaltradeoccurswhenafirmexportsgoodsorservicestoconsumersinanothercountryForeigndirectinvestment(FDI)occurswhenafirminvestsresourcesinbusinessactivitiesoutsideitshomecountryAfterWorldWarII,advancedcountriesmadeacommitmenttolowerbarrierstotradeandinvestmentSince1950,averagetariffshavefallensignificantlyandarenowatabout4%CountrieshavealsobeenopeningmarketstoFDIDecliningTradeAnd
InvestmenClassroomPerformanceSystemThesourcingofgoodandservicesfromaroundtheworldtotakeadvantageofnationaldifferencesinthecostandqualityoffactorsofproductioniscalleda)economiesofscaleb)theglobalizationofproductionc)globalintegrationd)globalsourcingClassroomPerformanceSystemThDecliningTradeAnd
InvestmentBarriersTable1.1:AverageTariffRatesonManufacturedProductsasPercentofValueDecliningTradeAnd
InvestmenDecliningTradeAnd
InvestmentBarriersLowerbarrierstotradeandinvestmentmean:thatfirmscanviewtheworld,ratherthanasinglecountry,astheirmarketthatfirmscanbaseproductionintheoptimallocationforthatactivityDecliningTradeAnd
InvestmenClassroomPerformanceSystemWhichorganizationisresponsibleforpolicingtheworldtradingsystem?a)theInternationalMonetaryFundb)theUnitedNationsc)theWorldTradeOrganizationd)theWorldBankClassroomPerformanceSystemWhTheRoleOfTechnologicalChangeTechnologicalchangehasmadetheglobalizationofmarketsarealityImportantadvanceshaveoccurredin:microprocessorsandtelecommunicationstheInternetandWorldWideWebtransportationtechnologyTheRoleOfTechnologicalChanTheRoleOfTechnologicalChangeImplicationsoftechnologicalchangefortheglobalizationofproductioninclude:lowertransportationcoststhatenablefirmstodisperseproductiontoeconomical,geographicallyseparatelocationslowerinformationprocessingandcommunicationcoststhatenablefirmstocreateandmanagegloballydispersedproductionsystemsTheRoleOfTechnologicalChanTheRoleOfTechnologicalChangeImplicationsoftechnologicalchangefortheglobalizationofmarketsinclude:lowcostglobalcommunicationsnetworkshelpcreateelectronicglobalmarketplacelow-costtransportationhelpcreateglobalmarketsglobalcommunicationnetworksandglobalmediaarecreatingaworldwideculture,andaglobalmarketforconsumerproductsTheRoleOfTechnologicalChanTheChangingDemographics
OfTheGlobalEconomyTherehasbeenadrasticchangeinthedemographicsoftheworldeconomyinthelast30yearsFourtrendsareimportant:theChangingWorldOutputandWorldTradePicturetheChangingForeignDirectInvestmentPicturetheChangingNatureoftheMultinationalEnterprisetheChangingWorldOrderTheChangingDemographics
OfTheChangingWorldOutput
AndWorldTradePictureIn1960,theUnitedStatesaccountedforover40%ofworldeconomicactivityBy2006,theUnitedStatesaccountedforlessthan20%ofworldeconomicactivityAsimilartrendoccurredinotherdevelopedcountriesTheshareofworldoutputaccountedforbydevelopingnationsisrisingandisexpectedtoaccountformorethan60%ofworldeconomicactivityby2020TheChangingWorldOutput
AndTheChangingWorldOutput
AndWorldTradePictureTable1.2:TheChangingDemographicsofWorldGDPandTradeTheChangingWorldOutput
AndTheChangingForeignDirect
InvestmentPictureInthe1960s,U.S.firmsaccountedforabouttwo-thirdsofworldwideFDIflowsToday,theUnitedStatesaccountsforlessthanone-fifthofworldwideFDIflowsOtherdevelopedcountrieshavefollowedasimilarpatternIncontrast,theshareofFDIaccountedforbydevelopingcountrieshasrisenfromlessthan2%in1980toalmost12%in2005Developingcountries,especiallyChina,havealsobecomepopulardestinationsforFDITheChangingForeignDirect
ITheChangingForeignDirect
InvestmentPictureFigure1.2:PercentageShareofTotalFDIStock1980-2005
TheChangingForeignDirect
ITheChangingForeignDirect
InvestmentPictureFigure1.3:FDIInflows1988-2006TheChangingForeignDirect
IClassroomPerformanceSystemWhatisthesinglemostimportantinnovationtotheglobalizationofmarketsandproduction?a)advancesintransportationtechnologyb)thedevelopmentofthemicroprocessorc)advancesincommunicationd)theInternetClassroomPerformanceSystemWhTheChangingNatureOf
TheMultinationalEnterpriseAmultinationalenterprise(MNE)isanybusinessthathasproductiveactivitiesintwoormorecountriesSincethe1960s,therehasbeenariseinnon-U.S.multinationals,andagrowthofmini-multinationalsTheChangingNatureOf
TheMuTheChangingWorldOrderManyformerCommunistnationsinEuropeandAsiaarenowcommittedtodemocraticpoliticsandfreemarketeconomiesandso,createnewopportunitiesforinternationalbusinessesChinaandLatinAmericaarealsomovingtowardgreaterfreemarketreformsTheChangingWorldOrderManyfTheGlobalEconomyOf
TheTwenty-firstCenturyTheworldismovingtowardamoreglobaleconomicsystem,butglobalizationisnotinevitableGlobalizationalsobringsriskslikethefinancialcrisisthatsweptthroughSouthEastAsiainthelate1990sTheGlobalEconomyOf
TheTweClassroomPerformanceSystemWhichofthefollowingtrendsistrue?a)theUnitedStatesisaccountingforagreaterpercentageofworldtradethaneverbeforeb)theUnitedStatesisaccountingforagreaterpercentageofforeigndirectinvestmentthaneverbeforec)theshareofworldtradeaccountedforbydevelopingcountriesisrisingd)theshareofforeigndirectinvestmentbydevelopingcountriesisdecliningClassroomPerformanceSystemWhTheGlobalizationDebateIstheshifttowardamoreintegratedandinterdependentglobaleconomyagoodthing?Supportersbelievethatincreasedtradeandcross-borderinvestmentmeanlowerpricesforgoodsandservices,greatereconomicgrowth,higherconsumerincome,andmorejobsCriticsworrythatglobalizationwillcausejoblosses,environmentaldegradation,andtheculturalimperialismofglobalmediaandMNEsTheGlobalizationDebateIsthAnti-GlobalizationProtestsMorethan40,000anti-globalizationprotesterstooktothestreetattheWTOmeetinginSeattlein1999ProtestersnowregularlyshowupatmostmajormeetingsofglobalinstitutionsAnti-GlobalizationProtestsMorGlobalization,Jobs,AndIncomeGlobalizationcriticsarguethatfallingbarrierstotradearedestroyingmanufac
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