The Globalization of Television Trade and Distribution
International econornic growth was suddenly disrupted with the onslaught of a worldwide recession. A major contributing factor was the OPEC decision in 1973 to increase oil prices by 400%. Other contributing factors were increased labor costs among several industrialized nations, as weIl as international exchange rates becoming increasingly unstable. The recovery was slow and uneven. It was not until the early 1980s that the world's economy began to flourish.