study on globalization and the international business

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1、StudyonGlobalizationandtheInternationalBusiness　　Ⅰ.Introduction　　Globalizationistheincreasingeconomicintegrationoftheworld，whichcanbedefinedasamixtureofprocessesbywhichproducts，people，companies，moneyandinformationareabletomovequicklyaroundtheworldasdecision-mak

2、ersdesire（JanetMorrison，2011）.Obviously，globalizationincludesalltheprocessesthatreflecttheindependentmovementsactedbydifferentplayersinsteadofasingleprocessworldwide.　　Ⅱ.Globalizationprocess　　Therearetwofundamentalthemesofglobalizationprocesses，namely，interconn

3、ectednessandinterdependence.　　A.Interconnectedness　　1.Transportadvances：Transportationistheguaranteeandprerequisiteforthedevelopmentofnationaleconomy.　　2.Internetandcomputing：WiththedevelopmentofInternetandcomputing，thetransmissionmodeoffinancialinformationhasu

4、ndergoneenormouschangesinthefieldoffinancialmarket.　　3.Globalfinancialflows9　　Globalizationofinvestmentandfinancing，inwhichinvestorsandfinancierscanselectthemostsuitablefinancialinstitutionsandinstruments，provokestheglobalizationofcapitalflows.　　Since1980s，thei

5、nternationalcapitalflowsrepresentceaselessacceleratingandexpandingtrend.Especiallysincethe90’s，anunprecedentednumberofinternationalcapitalwithstartlingspeedanddramaticchangingformspromotetherapidexpansionofglobalcapital.Wecanconcludethatfromthefinancingscaleofi

6、nternationalbondmarket，includingfinancingvalueofbankloans，notesfinancingandbondissuancethatincreasedfrom$62.2billionin1973to$145billionin1979withanaverageannualincreaseof15%.Whileafterthe90’s，thevalueincreasedfrom$427.6billionin1990to$1513.9billionin1996，whichs

7、howedanaverageannualincreaseupto23.5%.Ontheinternationalstockmarkets，thetotalaverageannualinandoutflowsofcapitalofdevelopedcountriesamountedat$47.6billionfrom1976to1980，whileitreached$631.1billionfrom1991to1994.Moreover，thefinancingscaleofmutualfundwasevenmorea

8、mazing.TakeUnitedStatesforexample，in1970，thenumberofmutualfundswas400withtotalassetsofproximately$44.8billion，whichexperiencedacorrespondingincreasein1994to5，300and$2.1trill