Global market and the isssue of off shore out sourcing Essay

Global market and the isssue of off shore out sourcing - Essay Example ss commentators defined the 20t century as the United States century, it is possible that the 21st century will now be defined as the era of Asian countries, especially India and China. While China is taking its place as the world’s manufacturing powerhouse, India is positioning itself as the global office (Lewin et al, 2011). Together, these two countries have a huge domestic market potential with cheap labour and administrations that are implementing policies that are capital friendly, leading many to believe that global markets are at a tipping point. It is evidently seen that Europe and the United States will no longer dominate the global markets that they have dominated in the last century, especially because they will have to compete in a global economy in which they are only responsible for a few inventions (Lewin et al, 2011). The future now requires that all countries embrace off-shoring of business processes across companies, cultures, borders, and disciplines. Those countries that will elect to narrow their focus on nationalism will not be successful in the new era of off-shoring and outsourcing. In addition, those countries that do not geographically diversify their activities (Lewin et al, 2011), while also developing strong international webs of innovation will fall short of competing in a market that is becoming increasingly global. Multinational corporations have for years made headlines with regards to skirting of environmental laws that are stringently implemented in industrialized nations through this process of off-shoring (Contractor, 2011). This involves off-shoring low cost and high polluting processes of manufacturing to countries with less stringent environmental laws, while also selling by-products with unacceptable toxicity, in developed countries, to less developed countries with weak laws. This particular problem, which can also be defined as off-shoring responsibility for environmental destruction is not part of the grand plan for