Final answer:
The enhanced risk of intellectual property theft is a disadvantage of Global Strategic Partnerships. Such partnerships can also create complications such as increased bureaucratic hurdles and may restrict market access, but these are not characteristic disadvantages. GSPs are generally designed to achieve economies of scale and open up international trade opportunities.
Step-by-step explanation:
One of the disadvantages of Global Strategic Partnerships (GSPs) is the enhanced risk of intellectual property theft. In these partnerships, companies collaborate and share sensitive information that could potentially be misused by a partner. GSPs can increase bureaucratic hurdles due to the need for coordination across different legal and cultural environments and could potentially limit access to international trade markets if the partnerships create exclusive relationships. However, they are generally formed to exploit economies of scale and access new markets, so these elements are not considered disadvantages.
It is also notable that global strategic partnerships, while potentially offering access to new markets, are linked with increased competition which can drive businesses to reduce costs and perhaps sacrifice quality or undermine local economies. Critics of globalization also express concerns about the negative impacts on the environment and local economies, particularly in the case of least developed countries struggling to compete on a global scale. Therefore, while GSPs can offer numerous benefits, they also come with significant risks and challenges, particularly concerning intellectual property and competition.