29th Jan 2019 / By Editor / TNT Magazine, UK
Despite alarm over trade wars and economic protectionism, the continued globalization of the world economy is gaining momentum. National markets are interconnected like never before, with this interconnectedness likely to reach new all-time highs in the year ahead.
While globalization generally is lauded by economists, politicians, and businesspeople as a general force for good, increasing business opportunities and facilitating free trade, it also comes with some challenges. If you're a smaller business, increased globalisation also means greater competition from overseas rivals, as well as numerous downward pressures on wages, fees, and profits.
However, an online business looking to make a profit in the modern economy need not worry, as they are better placed than other types of business to take advantage and reap the fruits of globalisation in full.