1. With globalization in business, there will come existence of blocs. Members will have increased negotiation power and trade negotiations will be easy as there will be reduced players in the trade now. When globalized business occurs, the bloc will be more powerful and the excluded countries will have to face the costs associated of not belonging to it. Eventually they will have to make a choice, either to join the bloc or to create a new bloc of the non-member countries. However, this choice will be made independently by each country. The benefits of being part of the large bloc will be higher than remaining outside. It will create a domino effect in the excluded countries to take an action and to join the existing bloc.
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