give a current example (real or hypothetical) of how the global business environment might affect a local…

Brief Explanations:

The global business environment can impact local businesses through factors like trade policies, currency exchange rates, and global supply - chain disruptions. For example, a local clothing retailer may be affected by changes in tariffs on imported fabrics from overseas suppliers. If a country imposes higher tariffs on textile imports, the cost of the fabrics for the local retailer will increase, leading to higher prices for customers or lower profit margins for the business.

Answer:

A local clothing retailer may face higher costs for imported fabrics if tariffs on textile imports increase in its country, which can lead to higher customer prices or lower profit margins.