Global Economy
Global economy would refer to the increasing globalisation of the marketing industry. This would mean the growing integration of the various national markets into the central global market. Such phenomenon is deliberately happening by the standard import and export trading system. In the global economy, large companies extract resources from a particular country, establish research and development and tap the services of other nations in marketing and selling the products and commodities. This type of marketing and business trend leads to a borderless world, as described by the Japanese trading consultant, Kenichi Ohmae.
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The advent of global economy has also thrashed out several advantages in both the cultural and economic system of the country. It has promoted advances in the global technology; enforce innovations in transportation and communications and eventually permeate the production of quality goods and products from a more competitive global trading.