The G-20’s leadership and the all-out efforts mounted by the IMF and other multilateral institutions to do what it takes to pull back the global economy from the brink of collapse and set it on a path of recovery were applauded across the world. 9. There are important differences between the 2008 crisis and today’s situation. i.
Coupled with the integration of former communist bloc countries into the global trading system, the horizon has broadened considerably for locating business operations. Not only can firms now create networks across borders in order to attain maximum aggregate output at minimum cost, but they can also change them easily as conditions change in various corners of the world.