Factors which have brought about the shrinking and borderless world of globalization include:

  • Technological developments permitting co-ordination of international business (e.g. faster transport, satellite communications, the Internet)
  • Location of factories or outsourcing of production and service activities to countries with lower costs or better infrastructure (e.g. service centers to lower wage countries)
  • Changing customers values and behaviour towards preference for global brands and technologies
  • International labour market resulting from mobility of staff between countries. Spreads expertise and tastes.
  • International capital markets resulting in firms being owned residents of many nations

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