Global Business in 2020: The Roles of the US and UK Thinking back just twelve years ago the internet was in its infant stages as personal computers became mainstream. Nobody knew the extent to the effect that would have on globalization or how it would begin to connect the world. That’s why it is so hard to imagine what the world is going to be like in 12 years. There is so much room for change and as the world economies begin to work closer together and the rules and regulations continue to change. Today, borders and barriers are being torn down to make way for a truly global market place. This is and will continue to create even greater competition and hopefully better products and ideas. With all of this change there will be many questions regarding how things should or should not be regulated. Representing two of the largest and most well known economies, the United States and the United Kingdom will each have a role in shaping the future. For the US, it will be an interesting line to walk between looking out for its own benefit while truly opening up markets and improving conditions throughout the world. For the UK it will be asserting is financial markets and institutions and leading the world on intellectual property. Before discussing the individual roles of the UK and the US in 2020 let’s start by looking at the global economy as a whole. There are basically four globalization scenarios that could play out leading up to 2020. The first is called controlled globalization and assumes that things will continue to progress as they are now. Markets and trading will continue to become more liberalized as countries become less fearful of major security issues and lose some of their protectionist views. This situation requires no major setbacks such as the September 11th attacks or a major economic crisis similar to what happened in Asia in 1997. The second scenario is globalization in retreat. Under this scenario fears about technological security, job loss, terrorism, or a global epidemic (avian flu) would keep countries from embracing globalization. The global market place would continue to expand but not at it’s full potential. A third scenario is called globalization sunk in which the globalization movement would actually move backward. History demonstrates this with the economies before and after World War I. Prior to the war there was a large level of international trade of goods and capital with little barriers on trade or immigration. After WWI, protectionism dominated the cultures and international advances across technology, trade, investment, and immigration were all in retreat. Although this is unlikely, a large scale war could cause much of the same things to happen. The hardest hit countries would be the developing nations. A final situation could be globalization unbound. This would involve trade barriers basically being dismantled, technology and knowledge flowing freely between nations. Financial markets would become almost completely integrated and the result would be increased competition across all countries with the poor developing nations standing to grow substantially. Although no one can guess which situation the world will actually be in 2020, it can be said that the UK and the US will play major roles in which path is taken. Both countries have a lot to hold on to but they can also not afford a fully protectionist path either. If the markets were completely opened the US and the UK would not be able to compete with developing countries for production jobs. As industrialized countries there are too many rules and regulations designed to protect the pay of workers. A majority of these jobs would go overseas. Even without complete open markets this situation is still going to happen to some extent. It’s one way in which developing countries can begin to close the gap with giants like the US and the UK. Much of the leaders in US and UK realize this and…
1 September 2014
Walmart UK vs Germany
Despite its many global successes including those in the United Kingdom, Walmart has also had some surprising failures due to its reluctancy to thouroughly adapt to local culture. One of the more notable instances is that of Germany, which came as a shock to many, seeing its previous success in such large economies. One of the fundamental differences between Walmart UK and Walmart Germany is that Walmart UK was more thouroughly integrated into Asda…
Conclusion: China and America is different. If people would like to have
a better quality of life after migrating to another country, they should not
only speak the local language very well but also handle the cultural
differences and social relations well.
America vs China
There is a great deal of differences between western and eastern
countries. In fact, the U.S and China are both signs of each country.
To begin with, China and America all are big country in the world, but…
North vs. South Contrasting Essay
During the 1860's there were many differences between the north and the south
in the United States. The geography, climate, ways of transportation, economy,
population, and culture were among some of the differences.
A big difference between the north and south was the geography and climate.
The north has warm summers and harshly cold and snowy winters. The landscape is
quite rocky and hilly and the growing season is short. The north is not generally great…
features of the UK and assess its current role in the world.
In the present age, more and more people pay attention to the main economic and physical features of the UK and its role in the world because the development of many countries is affected by the UK. Most of us know the UK is a country with profound history and culture because the UK is the earliest industrial country of the world. This essay will discuss the physical and main economic features of the UK and access its…
The UK’s lack of competitiveness is the biggest factor limiting economic growth. Discuss.
The UK’s lack of competitiveness is a very big factor limiting economic growth. The factors which might have caused a decrease in the international competitiveness of the UK include: the high cost of labour, increase in the value of the Pound Sterling and a decline in productivity relative to other countries. However, the Eurozone crisis and low interest rate are also significant in limiting the UK’s economic…
basically said that Americans were hypocrites because of the way we went about expanding land when it came to the Native Americans and the Mexicans. Kingoro doesn’t think that the way Japan is going about expanding territory is the wrong way. The US is trying to keep out of the war, but the thought is loosened once they hear that Japanese military airplanes attack the U.S. S. Panay and other ships when clearly Japan had to know because the ships flew the U.S. flag and it was also painted on the…
dimensions are correct, but the article did identify some ambiguities while making the comparisons. Finally, future areas of possible research were identified that would assist in the removal of the ambiguities.
Hofstede’s Cultural Dimensions US vs. India
Geert Hofstede’s theory of cultural dimensions was a result of an analysis of a world-wide survey of employee values by IBM in the 1960’s and 1970’s. This theory describes the effects of a society’s culture on the values of that culture’s members…
faced by international students in the UK. To what extent do you agree with this statement?
International students are very important for the economic growth of the UK. Number of international students in UK was about 405,910 in 2009 and in 2010 it increased up to 428,225 (which is about 6%). These students play a very important role in UK’s economy and bring huge income to the country. Shane Spiers, managing director of UNITE says "The UK's higher education sector-and, indeed, the UK economy-rely…
1 Executive summary
This paper analyses and compares two major global hotel chains, Marriott International, Inc. and Starwood Hotels & Resorts Worldwide, Inc. Both chains have extensive investments in and outside the US. They have very strong brand names and are quite competitive. However they differ in their strategies, like the market segment each one targets, the role of technology in the business, the financial efficiency of their systems etc. The paper discusses the extent of globalisation…
Toys R Us vs. Amazon.com
November 09, 2011
Topic: Answers Too
In this paper, I will summarize the arguments between Toys R Us and Amazon.com.
I will also summarize the rationale given by the judges for their decisions in this argument.
1. After a lengthy trial, the Court found that defendant Amazon.com had breached an agreement it had entered into with plaintiff ToysRUs.com LLC ("Toys R Us")…