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Although the absolute magnitudes are uncertain, it is safe to assume that there will be an enormous shift of economic power from today’s rich countries to what are still labeled DCs, and especially to Asian DCs This shift is the likely result of the ongoing globalization of economic activities, i.e. the increasing worldwide integration of markets for goods, capital and, last not least, labour.
Globalization refers to an evolving pattern of cross-border activities of firms involving international investment, trade and cooperation for purposes of product development, production and sourcing, and marketing...
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