Need business and finance help with Globalization for better understanding

timer Asked: Dec 13th, 2015
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Question Description

What is globalization? Why has globalization become so important during the last 10 years? How will globalization change financial management in the future?

Tutor Answer

School: UC Berkeley

Thank you for the opportunity to help you with your question!

Globalization is the integration of diverse social orders, societies, and economies on an overall scale. This includes the trading of merchandise and items, data, information, and social aspects. Monetary combination involves nations bringing down obstructions, (for example, taxes) to open their economies up to venture and exchange with different nations. 

Globalization has turned out to be such an imperative subject in the course of the most recent ten years in light of the fact that the quick pace of worldwide integration is becoming definitely because of advancements in innovation, correspondences, science, transport, and industry. 

This will change financial management in the years to come by opening up more world markets for deals and exchange, which prompts more noteworthy worldwide rivalry. Alongside expanded rivalry, it likewise prompts an increment in corporate account alternatives. Since diverse nations hold distinctive laws and regulations in respects XXXXX business with different nations, this can bring about potential obstructions or issues for organizations to enter new worldwide markets and their capacity to procure the essential funds to work in different nations. 

Please let me know if you need any clarification. I'm always happy to answer your questions.

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