About Global economy

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Title Global economy
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Rising technology has allowed our environment to be characterized as a global one. “The global economy" gave business the ability to market products and services all over the globe. It has also allowed them to develop partnerships and alliances throughout the world, which has become essential for success in today’s business.” Prior to Globalization, the United States dominated the global economy. In past decades, however, the U.S. share of the global economy has shrunk to approximately 20%. This trend is expected to continue as the economies of many newly industrialized countries continue to grow at a faster rate, this is called the balancing of the equilibrium. For the moment, however, the global economy is still largely tripolar in nature, as North America, the European Union and Asia are the main areas of business and finance, with New York, London and Tokyo respectively as the three main financial centres of the world. While these business practices allow companies to save money,...
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