User:Skakkle/global markets

Global markets are modern markets which are not confined to one country or even one region. Firms (commonly called "multinationals") which buy and sell a lot from companies & individuals in countries other than their home country, participate in global markets. The more open a country is to these forms of business with foreign firms (or "investing in [foreign country "x"], the more is competes in global markets. This competition is over labor, products, and numerous other costs, goods, etc.

Richer, Western countries have long sourced commodities and simple goods from less developed countries. Since globalization became more prevalent by the 1990s, Western companies have also developed their own production capacity in those less developed nations.