New International Division Of Labour

New international division of labour in Global Commerce Policy

In this regard, new international division of labour is: an evolution of the concept of the international division of labour in which price competition is no longer the sole or dominant determinant of how a firm manufactures its products. The system in part reflects a recognition of the power of the consumers, but it also gives them many pseudo-choices. The entries on trade policy are here. Analysts say that this system requires, among others, product flexibility, rapid innovation, a multiskilled workforce and closer integration of production schedules and product development of related production units. Corporations distribute their production units internationally in the way that best satisfies their competing requirements. See also globalization, product cycle theory and transnational corporations.[1]

New international division of labourin the wold Encyclopedia

For an introductory overview on international trade policy, see this entry.

Resources

Notes and References

1. Dictionary of Trade Policy, “New international division of labour” entry (OAS)

See Also