OK, let’s try something different this week in that I won’t suggest any specific discussion topics. I think the themes of this week (globalization, corporate social responsibility, sustainable development) should be interesting and urgent enough for you to come up with your own topics 🙂
Please write about 150-200 words.
And please also make a reply to a person’s post.
I believe it is very important for any business, small or big, to participate in the global market. The United States has one of the biggest economies in the world and yet it is currently running a huge trade deficit for being the world’s largest importing nation. Nonetheless, the arguments favoring US businesses to be expanded into global markets clearly indicate how globalization is beneficial to an economy and a business. The global market contains a numerous amount of consumers and I think it is important to understand that no one country will be economically efficient in producing every good and service. This is where I think that the idea of comparative advantage between two businesses or two countries in the global market can really foster progress rather than all countries aiming to have absolute advantage. The US is a prime example that imports the most from countries that are, comparatively, more efficient than them while also being one of the largest exporters. The global competition that can be seen among exporting nations is what makes the global market a very productive place for businesses. Furthermore, reaching the global market provides more political and social benefits as your goods and services are extended to a farther range of people than in a domestic market.
-around 100 words