Describe how international business evolved.

Question: Describe how international business evolved.

International business is the exchange of goods, services, and capital across national borders. It has evolved significantly over time, influenced by historical, political, economic, and technological factors. Some of the major milestones in the evolution of international business are:

- The emergence of trade routes and networks among ancient civilizations, such as the Silk Road, the Phoenician trade, and the Roman Empire.

- The expansion of European exploration and colonization from the 15th to the 18th centuries, which opened up new markets and resources in Asia, Africa, and the Americas.

- The Industrial Revolution and the development of steamships, railways, and telegraph in the 19th century, which increased the volume and speed of international trade and communication.

- The formation of multinational corporations and international organizations in the 20th century, which facilitated cross-border investment, production, and cooperation.

- The globalization and digitalization of the 21st century, which enabled greater integration and interdependence among countries, regions, and people through e-commerce, social media, and online platforms.

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