2. Test

The process by which companies undertake some activities at offshore locations instead of in their countries of origin.

The subcontracting, or contracting out, of activities to endogenous organizations that had previously been performed by the firm

The process of social, political, economic, cultural, and technological integration among countries around the world.

Internationalization is the process of a business crossing national and cultural borders, while globalization is the vision of creating one world unit, a single market entity.

The global organization of countries that oversees rules and regulations for international trade and investment.

A free-trade agreement between the US, Canada, and Mexico that has removed most barriers to trade and investment.

Some of the more important developments include:

1. the elimination of tariffs as well as import and export quotas

2. the opening of government procurement markets to companies in the other two nations

3. an increase in the opportunity to make investments in each other’s country

4. an increase in the ease of travel between countries

5. the removal of restrictions on agricultural products, auto parts, and energy goods

A political and economic community consisting of 28 member states.

A trade agreement among 12 Pacific Rim countries, including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam.

Investment in property, plant, or equipment in another country.