International Markets And Globalization Introduction - Business Environment

International markets are important to most firms; even if they do not produce for the export market they may well be dependent upon raw materials which are imported and they will almost definitely be affected by movements in the exchange rate. Britain, like all other advanced industrial countries, is highly dependent upon international markets and that dependence has grown over the years. What makes international trade different from trade within a country is that the trade is taking place across national borders. Thus a system for international payments is needed. It is essential for students of business to have an understanding of international markets, exchange rates and the balance of payments.

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