Provides a sound theoretical and practical foundation for understanding the global economy in an era of shifting borders, restructuring economies, and regional realignments. The book covers population, natural resources, and international trade. It combines theory with geography in addressing growth, distribution, and development, and explains their impact on international business. Portrays recent geopolitical changes and uses real-world examples. Promotes a greater appreciation of international and U.S. economic issues through a global perspective while highlighting world trade. The fifth edition of World Economy: Resources, Location, Trade and Development has been revised to include a chapter on consumption. It emphasizes global interdependence; flexible manufacturing; the globalization of business, culture, environmental problems, and telecommunications; and the transnational corporation. It discusses the declining roles of traditional factors of production and provides the latest country-by-country economic data for all of the world's major economies. An essential reference for any professional or business owner doing business in the world economy.