A key characteristic of globalization is the increasingly integrated world economy. MNEs and many nations have a stake in maintaining the globalization trend. If the trend were somehow reversed, participants in international business, such as exporters, likely would suffer big economic losses.

In many ways, globalization’s role in the world economy is critical. But just how big is the global economy? What is the extent of international trade relative to the size of the global economy? What is the proportion of international trade in the GDPs of each of the following countries: Australia, Canada, Sweden, United Kingdom, and the United States?

Consult globalEDGE™ to address these questions. L01