Future of Globalization – Marketing
You have until April 8 to respond to discussion questions.
Your response to the topic posted in the threaded discussion is part of the required coursework (32 points). Your answer should be thoughtful and specific to the information asked (provided) in the discussion. To prepare your answers, carefully read the reference article(s) provided in the discussion topic first.
You are also required to respond to at least THREE classmates’ posting (18 points). Your response should go beyond simply saying “I agree” or “I disagree.” It should reflect the amount of thought you put into responding.
To respond to the discussion question below, click on “Respond” and enter your reply in the box provided. Click the “Post” button when you are ready to share your response with your classmates.
To respond to a classmate’s posting, click on the classmate’s posting to open it first. Click on “Respond” in that posting and enter your response in the box provided.
Your response to the topic is due on Friday, Apr 8 and your response to a classmate is due on Sunday, Apr 10 when all the unit coursework is due.
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In Doubt: The Future of Globalization
In Chapter 1, we identified globalization as one of the key factors that shape marketing in the 21st century. We asserted that the world has become a level-playing field and geographic and political barriers have been eroded. Consumers and businesses have become multicultural –thanks to global communication and circumnavigation — and products and services developed in one part of the world are finding wide acceptance globally (Chapter 20). In his 2005 book, The World ls Flat (2005), Thomas Friedman used the metaphor to emphasize that the global market is becoming competitive, and historical and geographic divisions are increasingly less relevant. Recent world’s experience about the pandemic and the current war in Ukraine has cast doubt about the disappearance of geographic and political divisions in the world and the very essence of globalization.
The US-led effort to expel Russia from international commerce marks another fracture in the free-trade vision that guided the global strategy of American firms for nearly 30 years. US firms are moving quickly to decouple from Russia and will probably continue to distance themselves from China, while the U.S. is pressing for Russia’s suspension from the World Trade Organization. “The trading system as we’ve known it, with the WTO at its core and with a basic set of rules that everyone traded under, is coming apart,” as one trade lawyer said.
Discussion Questions:
1. Discuss the unraveling of globalization in the 21st century per the WSJ article. Why has the world heading toward constraining global trade and investment?
2. In a nutshell, how is the global trading system regulated? What role does the World Trade Organization play? For how long has this system been coming apart? When did the first fissures appear?
3. Looking forward, how will US firms likely adjust their global strategy in the future? What would be the fate of globalization as the world’s most powerful democracies and autocracies are turning away from each other?
Source:
Economic Blacklist of Russia Marks New Blow for Globalization
(Links to an external site.)
By Josh Zumbrun | March 10, 2022
The Wall Street Journal
Globalization and autocracy are locked together. For how much longer?
Download Globalization and autocracy are locked together. For how much longer?
The Economist | March 19th, 2022 edition
Ukraine War and Pandemic Force Nations to Retreat From Globalization
(Links to an external site.)