Chapter Five

Globalization and Business Ethics


International business has become an important economic force during the second half of the 20th century. Today few countries, if any, can claim to be economically self-sufficient. India, even with her vast human and natural resources, cannot insulate herself from the world economy. Though there was tremendous political opposition from within, India was constrained to open up her economy and join the World Trade Organization (WTO). In every country, developing or developed, international business touches people’s lives.

Today, most business enterprises, big or small, are drawn to doing business across national borders. They may purchase raw materials from foreign suppliers, ...

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