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Globalization of Markets and Competition: Trade is increasingly global in scope today. There are several reasons for this. One significant reason is technological--because of improved transportation and communication opportunities today, trade is now more practical. Thus, consumers and businesses now have access to the very best products from many different countries. Increasingly rapid technology lifecycles also increases the competition among countries as to who can produce the newest in technology. In part to accommodate these …

…time. In principle, this weakening ought to increase exports and decrease exports, but since countries may be able to borrow from foreign lenders, this may not always happen in practice. The U.S., for example, has been able to finance deficit spending by foreign borrowing. While the U.S. dollar declined sharply against the yen in the 1980s and early 1990s, it has remained much more stable in recent years at 100-130 yen per dollar.