Globalization or the development of the global business purlieu has developed into a situation where many different businesses and organisations atomic number 18 working together across foreign bs to score and sell goods and services on a global outperform . Some of the issues faced today were non-existent a few decades ago when classic international trade theories were prevalent in the see of business and economics . Issues of ecological sustainability and corporate citizenship were terms that were non studied in economics and business management courses except in today s world these issues face every organization br which conducts international business . The highly competitive temperament of markets , employees and other financial constraints on a business has caused the theories of international trade and global economics to be rewritten . Theories such as the mercantile system of rules of economics and trade still founder and support the concepts of globalization .
Forming alliances between nations is essential to the mercantile system , which dictates that a balance is needed between exports and imports , and nations need to fall in in to maintain this system . However there are flaws to forming alliances that have been outlined by realists over the years as well as difficulties in trying to maintain a good balance between an economies imports and exports . One of the most grown is Adam Smith who suggests primarily that humanity itself is one of these original flaws . Another trade theory which supports globalization is that of comparative value , a theory which dictates economies should specialize in certain areas in to...If you want to get a full essay, order it on our website:
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