Introduction. Globalization of world economy, world trade & foreign investment trends. Technological changes. Types of international business. The cultural dimensions of international business. The global trade and investment environment. Trading practices. World financial environment. Tariff and non-tariff barriers. WTO and regional blocks. Global financial environment. Determinants of exchange rates. International banks. Non-banking financial institutions. Global competitiveness: export and import financing. Licensing and joint ventures. Research and development in global market. Globalization with social responsibility. World economic growth and environment. Negotiations in international business and multilateral settlements.