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The road ahead for International business with Globalisation (Future)

Comparative advantage The world trade report (2009) agrees globalisation will continue to exist in the long run due to trade. The definition of economics states that resources are unevenly distributed which confirms that international business (IB) is obvious. Adam Smith (1776) emphases that due to division of labour productivity increases and David Ricardo (1817) said that International Trade (IT) allows countries to specialise on what they are best at. Eventually, if trade decreases or restricts resources will be wasted which could be better utilised by others. Multiculturalism Globalisation means consume homogenous goods however, in many cases it allows for differences; Differences in choice of food, media, education, finance, computer maintenances and religion (Sotshangane, 2002). As such, globalisation allows for multiculturalism which shows it has a long way ahead. Conversely globalisation will fade in the near future since we find a growing number of Anti-globalists (Wikipedia, 2011). According to Suter n.d, it is mostly the fundamentalist countries that are against globalisation; accordingly they believe globalisation will westernalise their nations and thus fads their religious strength. Advancement in Technology Archibugi (2002) agrees advancement in technology enhances the level of trade. As such internet connects the whole world together therefore it is a means whereby globalisation and IT have no or less stoppage. (Naim in an article, 2010). Nevertheless, the 9/11 attacks is a growing eases of cross- labour mobility, Shell (2009). Consequently, it has brought terrorism, thus it can end. Moreover it encourages job outsourcing which is a negative effect in developing countries, as such their government are investing locally so as to protect the local firms (Dairies, 2003). Financial crisis Despite the fact the world is facing financial crisis people are still connected therefore, it shows crisis is not slowing international activities Tyler (2009). However in an article in Globalisation: slowed but not stopped (2009), the author stated if trade if cut-off, movement of people will continue to remain. As such, millions of tourism travel worldwide, thousands of professionals has already visited fifty or more countries. On the other hand the financial crisis in U.S is hitting all over the associated nations. The crisis is against foreigners and foreign countries (Alex, 2008).It has given rise due to Chinese surplus in $U.S (The Economist, 2011). Facts suggest that about 16% in U.S is unemployed due to globalisation (an article in Stop Globalisation, it will destroy our country, 2011).

Oil crisis According to Wikinvest, 2010 people are traveling less as they are worried about the inflated price of oil. It is indeed a limitation to IM however we find it will not eliminate IM completely rather it will slows it down. People are more environmentally conscious thus they will find other alternatives to rebound IM .It is a way to facilitate trade but on the other hand it will reduce trade of oil producing countries. Facts suggest that the oil crisis happening is no doubt much lesser than the oil embargo in 1973(Roubini, 2004) Unequal distribution of benefits Evidences prove that IB provides unequal distribution of benefits since trade is imbalance (Wikipedia, 2011). Therefore, we have globalised labour and capital but not globalised salaries. Migrate workers get lesser salaries and thus they could not even purchase their own made goods (WiseGEEK, 2011).Consequently, it weakens the road ahead to Globalisation.