In the wake of worldwide economic turmoil and efforts toward recovery, understanding the interdependence of government and business is more important than ever. In this thoroughly updated edition, Lehne takes a comparative approach, evaluating the U.S. political economy with respect to those of Great Britain, Germany, Japan, and the EU. The book provides detailed historical context for, and a conceptual understanding of, the business-government environment, and then clarifies the roles of the major actors and outlines the regulatory and policy frameworks. Along the way, Lehne probes some of the most crucial dilemmas facing government and business today. Updates to this edition include: • expanded coverage of ethics as it relates to government and business; • greater attention to China in particular in the feature boxes on developing nations; and • a look at relations between government and business at the subnational level. A comprehensive glossary and chapter summaries enhance student learning.

Globalization of Business Activity

Globalization of business activity

The world bank reported that global economic growth made 2004 the most prosperous year in human history.1 Although the United States did rather well, it was the developing nations that led the economic parade with a growth rate of better than 6 percent. All the world's developing regions expanded their economies in the half-decade ending in 2004, but “spectacular” reductions in poverty appeared in East and South Asia. Even setting aside the dynamic economies of China, India, and Russia, the rest of the developing world still recorded a growth rate in 2004 of almost 5 percent. The reason for this good fortune, some commentators insist, was the increased globalization of the world's economy.2 The developing nations that ...

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