Professor in, D.Y. Patil University, Department of Business Management, Navi Mumbai
Online published on 8 July, 2016.
International Business globally is receding and global trade has fallen to 2% of world GDP. Post the 2007 recession, there has been a fall in economy for various countries. There has been a paddle shift and a shock to developed countries. Powers have started to be transferred from once most Powerful Countries to other Developing Countries which are coming up in the race. The United States woke up with a shock but prevented serious damages whereas the Europe could not adapt to the change. The Europe is still finding ways to solve the Euro Economic Crisis. The Darwin's theory of Evolution speaks about “Struggle for Existence” and “Survival of the Fittest” where the focus is on “Adaptation”. Those countries which can adapt to the change are the countries which are going to survive in the future. If not, another revolution and another powerful tyrant and another War. The important issue for all countries has become to sustain development in this fluttering economy. International Business, post recession has seen a lot of changes. Countries once called the third world countries have flexed their muscles and started flirting with International Powers. Once so called powerful countries of the west have started embracing these developing countries to the fight against the economic crisis.
