Dimensions of Market Globalization

This solved assignment delves into the key dimensions of market globalization as discussed in the video 'The new global challengers'. It examines the integration and interdependence of national economies, the rise of regional economic integration blocs like the European Union, and the increase in global investment and financial flows. The assignment highlights how these factors contribute to unprecedented growth in international trade and economic interdependence.

0Running head: INTERNATIONAL BUSINESS
International business
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1INTERNATIONAL BUSINESS
Answer 1
Dimensions of market globalization:
The case study video ‘The new global challengers’ talks about the changes in the business
process due to globalization. This has resulted in huge growth in cross border trade. The
video explains about the key dimensions of market globalization which are as follows:
1. Integration and interdependence of national economies: Achieving financial stability
and economic growth is one of the major challenges facing countries today globally.
The process of globalization or the integration of economies worldwide has become
easier due to movement of good and services across border. Technological
advancement has made it easier to complete trade and financial flows. Globalization
has given people the opportunity to tap into diversified markets and this has facilitated
growth and interdependence of economies (Surugi & Surugiu, 2015). Hence,
supported by the process of globalization, unprecedented growth in international trade
has occurred and each country is dependent on another for goods or services.
2. Rise in regional economic integration blocs such as the European Union: Regional
economic integration is also an element of globalization. For example the
development of trading blocs like European Union has increased the movement of
labor and capital. Trade among EU member countries is high and they follow single
monetary policy for trade and business However, such trading blocks can also create
between parties competing for regional interest (Pettinger 2017). .
3. Increase in global investment and financial flows: Due to the greater
interconnectedness of global market and advanced communication process, new
investment opportunities have increased. Hence, it has become easy for market
analyst to identify risk and opportunities in business and create positive relationship

2INTERNATIONAL BUSINESS
with countries through growth in trade and investment. It also comple interconnected
economied to go on investing to get more profit and maintain economic stability in
trade (Chapter-1 : The New Global Challengers, 2017).

3INTERNATIONAL BUSINESS
Reference
Chapter-1 : The New Global Challengers. (2017). YouTube. Retrieved 13 September 2017,
from https://www.youtube.com/watch?v=0NRDh5VHQo8
Pettinger, T. (2017). Trading Blocks and Globalisation | Economics
Help. Economicshelp.org. Retrieved 13 September 2017, from
https://www.economicshelp.org/blog/1019/economics/trading-blocks-and-
globalisation/
Surugiu, M. R., & Surugiu, C. (2015). International Trade, Globalization and Economic
Interdependence between European Countries: Implications for Businesses and
Marketing Framework. Procedia Economics and Finance, 32, 131-138.