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This document discusses international business and trade. It covers several topics: - The roles of exporting and importing in international business and key trade statistics for the US. - Various barriers to international trade such as economic, legal, political, social/cultural and technological barriers. - Types of trade barriers like tariffs and restrictions that governments impose. - International agreements and organizations that influence trade such as NAFTA. - Strategies companies use when getting involved in international business and trade.
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The document discusses the political environment as a critical concern for international business. It covers several topics:
1) How the sovereignty of nations and stability of government policies can affect business conditions. Changes in political parties or nationalism can radically shift policies.
2) Different forms of government, political parties, nationalism, trade disputes and other factors contribute to political risks for global companies. Confiscation, expropriation and domestication are examples.
3) Companies can assess political vulnerability, lessen risks, and encourage investment through joint ventures and expanding operations to benefit the local economy. Governments encourage foreign investment to accelerate economic growth.
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2) Different forms of government, political parties, nationalism, trade disputes and other factors contribute to political risks for global companies. Confiscation, expropriation and domestication are examples.
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This document discusses international business and trade. It provides information on:
- The role of international business is to buy, sell, and trade goods and services across national boundaries. Nations trade to obtain unavailable or lower cost materials and goods.
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The document discusses the international marketing environment and its key elements. It focuses on the economic and political environments. It describes how the economic environment varies between developed and developing countries in terms of factors like income levels, consumption patterns, and trade policies. It also explains how the political environment, including issues of sovereignty and international laws, can impact businesses operating in global markets. Differences in economic and political conditions must be considered in business strategies for international markets.
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Rising Healthcare Costs - https://www.cnbc.com/2017/08/09/employers-to-spend-about-10000-on-health-care-for-each-worker.html
Rising Labour Costs - https://www.reuters.com/article/us-usa-economy-costs/u-s-labor-costs-increase-solidly-in-the-fourth-quarter-idUSKBN1FK1XR?il=0 https://www.reuters.com/article/us-bonds-investments-analysis/costly-dollar-hedges-tarnish-u-s-bonds-for-overseas-investors-idUSKCN1GC0OF
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When we look at the history of the known humanity, it appears that people started living in communities and that private property has emerged due to the progress of historical conditions. One of the consequences of this outcome is that world history is the scene of many wars and destruction. When it comes to war, it is armed struggles that take place between countries or political groups that come to mind first. Looking at this perspective, we see that the historical development process is also seen as the great majority of battles take place as physical battles, but it has become possible to say that, with great physical battles, technological and economic developments, sword-fighting and armed wars have begun to shift to economic and cultural wars. This new form of war has begun to take place on the stage of history on the basis of economic instruments. As an example of economic warfare, protectionism can be shown by countries in the direction of their own economic interests. It would not be wrong to say that the currency wars and the wars of trade that brought about by the protectionist policies of the countries, especially in the crisis period, will be the most important economic problem of our time. Throughout history, all wars have led to great destruction, and generally underdeveloped countries and poor countries have been affected by these destructions, and it is not wrong to say that the economic wars, as well as physical wars, will effect the least developed countries and the poor countries.
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2) It provides context on factors that make a trade war more likely, such as China's ambitions to become a global leader in technology and the US's large trade deficits.
3) It outlines several potential scenarios for how a trade war could play out, from a muted response that modestly impacts markets, to an all-out repeat of 1930s-style protectionism that severely damages the global economy.
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To know more about it, refer to the following article:
https://efinancemanagement.com/investment-decisions/political-risk
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This chapter discusses strategies for managing political risk, government relations, and alliances. It explores evaluating political risks, macro and micro risk factors, techniques for responding to risk like developing relationships and lobbying. Alliances can benefit market entry but cultural differences and unpredictable host governments can challenge international joint ventures. Preparing for eventual alliance termination through legal agreements is important for success.
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This document discusses political risk management strategies for multinational corporations operating abroad. It covers Freeport-McMoRan's operations in Indonesia which face high political risk. It also discusses macro and micro political risks faced by MNCs and how unstable governments and changing policies can constrain foreign investments and trade. Finally, it outlines techniques for MNCs to manage political risks, including relative bargaining power analysis, integrative and defensive strategies, and proactive political engagement.
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This document summarizes some of Donald Trump's major economic policies, including jobs, immigration, taxes, and trade. It discusses Trump's plans to add 25 million jobs over 10 years focusing on manufacturing. On immigration, it outlines Trump's proposals to build a 1,000 mile border wall. On taxes, it describes Trump's plans to simplify income tax brackets and lower the corporate tax rate. Finally, on trade, it discusses Trump's threats of tariffs on China and other countries, but warns that one of Trump's major economic policies - slowing China's growth through restricting imports - could potentially lead to a "global recession" through effects on oil prices, commodities, trade, and corporate business.
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Causes and possible consequences of the us china trade war
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- Countries have absolute advantage when they are the only or most efficient producer of an item. Comparative advantage exists when a country can supply products at a lower cost than other items.
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The dispute-settlement system favors large nations because retaliatory tariffs might different impact on different nations.
If a small nation imposes a retaliatory tariff, the result will be a decrease in national welfare. (Chapter 4)
If a large nation imposes a retaliatory tariff, demand and price throughout the world may change making imports less expensive improving the terms of trade ratio for the large nation.
Purpose of WTO is supposedly to reduce trade barriers not increase them; monetary fines would be a more suitable penalty.
The dispute-settlement system favors large nations because retaliatory tariffs might different impact on different nations.
If a small nation imposes a retaliatory tariff, the result will be a decrease in national welfare. (Chapter 4)
If a large nation imposes a retaliatory tariff, demand and price throughout the world may change making imports less expensive improving the terms of trade ratio for the large nation.
Purpose of WTO is supposedly to reduce trade barriers not increase them; monetary fines would be a more suitable penalty.
The dispute-settlement system favors large nations because retaliatory tariffs might different impact on different nations.
If a small nation imposes a retaliatory tariff, the result will be a decrease in national welfare. (Chapter 4)
If a large nation imposes a retaliatory tariff, demand and price throughout the world may change making imports less expensive improving the terms of trade ratio for the large nation.
Purpose of WTO is supposedly to reduce trade barriers not increase them; monetary fines would be a more suitable penalty.
World market environment unit 1
This document discusses the marketing environment and its importance to marketers. It covers the major components of the marketing environment including the social, economic, technological, competitive, demographic, political/legal, and institutional environments. It explains how changes in these environments can create opportunities or threats for marketers and affect specific markets and marketing activities. It provides details on trends in various environments like population growth, largest cities, median ages in countries, economic trends, political trends like free trade and terrorism, and more.
Chap 01 and 13
The document discusses various aspects of international trade and finance, including the balance of payments. It begins with an introduction to international trade, noting that the exchange of goods and services across borders allows for greater competition and more affordable products. It then discusses factors that differentiate international trade from domestic trade, such as restrictions on the mobility of labor and capital between countries. The document also examines components of the balance of payments, including the balance of trade, balance on current account, and balance on capital account. It describes how official reserves are used to support currencies under fixed exchange rate systems.
internationaltradeppt-110207041415-phpapp02.ppt
International trade involves the exchange of goods and services between countries. It makes up a large portion of many national economies. Some benefits of international trade include job creation, increased consumption, and access to natural resources not available domestically. However, it also faces challenges such as trade deficits and surpluses, currency differences between nations, and barriers like tariffs and quotas that countries impose on imports. Organizations like the World Trade Organization help establish rules and resolve disputes related to international trade.
internationaltradeppt-110207041415-phpapp02.ppt
International trade involves the exchange of goods and services between countries. It makes up a large percentage of GDP for many nations and involves exports, imports, trade balances, and trade partners. There are economic benefits to international trade like job creation and consumption, but also challenges such as trade deficits, currency differences, and policy barriers like tariffs and quotas. Countries engage in trade to benefit from comparative advantages in production and access broader markets.
vasanth.pptxvvvbvççccvcçgggbbggggggggggggg
International trade involves the exchange of goods and services between countries. It makes up a large portion of many national economies and involves exports, imports, trade balances, and trade partners. There are economic benefits to international trade through job creation and consumption, but it also faces challenges such as trade deficits, restrictions, and cultural barriers between countries. Nations establish organizations and policies to facilitate and regulate global trade.
internationaltradeppt-110207041415-phpapp02.ppt
International trade involves the exchange of goods and services between countries. It makes up a large portion of many national economies and involves exports, imports, trade balances, and trade partners. There are economic benefits to international trade like job creation and consumption, but it also faces challenges such as trade deficits, restrictions, and cultural barriers between countries. Nations establish organizations and policies to facilitate and regulate international trade.
Lecture 5 bma2 b01 2017
This document provides an overview of key concepts related to globalization and international trade. It discusses:
1) How the world of business is undergoing changes due to increased competition, disruptive technologies, and knowledge sharing as a result of globalization.
2) Several theories of international trade, including mercantilism, absolute advantage, comparative advantage, and factor proportions theory.
3) Concepts like internationalization, globalization, deterritorialization, and how businesses can expand globally through methods like sourcing, importing/exporting, licensing, and direct investment.
4) The impact of factors like endowments, demand conditions, and independence/interdependence between countries.
Chapter 3 Bom 120
Globalization means that companies can manufacture, finance, and market products worldwide, giving them access to over 6 billion potential customers globally compared to only 32 million in Canada alone. Countries trade goods they have a comparative advantage in, such as resources or technology. However, some countries use protectionist policies like tariffs and quotas to limit imports and protect local producers, despite the overall economic benefits of free trade. Protectionism can take many forms including tariffs, quotas, regulatory standards, paperwork requirements, and embargoes.
International economics notes
1. The document provides an overview of international trade and economics, including definitions of internal and international trade, theories of international trade such as comparative cost theory and opportunity cost theory, and features of international transactions.
2. International trade is defined as the exchange of goods and services across borders, and is impacted by factors like transportation, globalization, and multinational corporations. Key differences between internal and international trade include barriers to trade between countries and differences in economic environments and currencies between nations.
3. Theories of international trade discussed include comparative cost theory, opportunity cost theory, and Heckscher-Ohlin theory. Features of international transactions that distinguish them from domestic trade include immobility of factors of production between countries
IB
International business refers to commercial transactions that cross national borders, including trade of goods, services and economic resources between two or more countries. A multinational enterprise conducts business operations in multiple countries. Companies engage in international business to expand sales into new markets, access resources like labor at lower costs, and minimize risks by diversifying beyond their domestic market. The goal is typically company growth or expansion through a global business strategy.
International trade- High school Business Studies.docx
Comprehensive booklet on secondary school business studies
International trade and domestic political influences.pptx
This document provides an overview of international trade and political influences on trade policy. It discusses how governments intervene in international markets through various trade policies like tariffs, subsidies, quotas, and administrative policies. While economists generally support free trade, governments are influenced by domestic interest groups and intervene to protect important industries. The document outlines the political and economic arguments for government intervention and trade barriers. It also traces the development of the current World Trade Organization and discusses some of the challenges it faces in further liberalizing global trade.
International Business and Marketing
This document summarizes key concepts from Chapter 4 on international business and marketing. It discusses reasons why nations trade, including expanding markets and making more efficient production systems. It also describes how nations measure international trade through balances of trade and payments. Finally, it outlines different levels of involvement for businesses entering global markets, from exporting to direct foreign investment, and strategies for operating internationally.
13.1 Global Interdependence: Trade flows and trading patterns
Trade involves the exchange of goods and services between countries. Imports are purchased from other nations while exports are sold abroad. A country's balance of trade depends on whether it imports or exports more. Global trade patterns are influenced by factors like resource distribution, location, and trade agreements. While trade allows nations to specialize, many developing countries face unequal terms of trade and dependency on specific goods or partners. International organizations aim to promote free and fair trade globally.
Tariff and non – tariff barriers
The document discusses various types of tariff and non-tariff barriers that governments use to control and restrict international trade, such as tariffs, quotas, standards, and dumping practices. It also examines arguments for and against protectionism. Finally, it provides an overview of international economic organizations that aim to promote free trade such as the WTO, NAFTA, and the EU.
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Chapt3
- 1. CHAPTER 3 Business in a Borderless World 3-1
- 2. Role of International Business • Most of the world’s population and two-thirds of its total purchasing power are outside the U.S. • Global marketing requires balancing global brands with the needs of local consumers 3-2
- 3. Role of International Business 3-3
- 4. Role of International Business Exporting – the sale of goods and services to foreign markets 2011 U.S. exports = $2.1 trillion+ Importing – the purchase of goods and services from foreign markets 2011 U.S. imports = $2.6 trillion+ 3-4
- 5. Role of International Business 3-5
- 6. International Trade Barriers Completely free trade seldom exists, due to: • Economic barriers • Ethical, legal and political barriers • Social and cultural barriers • Technological barriers AT&T has made inroads with consumers who don’t want their cell phones to stop working when they go abroad 3-6
- 8. Economic Barriers Level of development is determined in part by a country’s 3-8
- 9. Economic Barriers Another economic trade barrier is the • Exchange rates vary daily and affect the cost of imports and exports • A government may intentionally alter the value of its currency through fiscal policy 3-9
- 10. International Trade Barriers When entering the international marketplace, companies must contend with potentially complex relationships Different laws of its own nation, international laws and the laws of the nation with which its trading Various trade restrictions Changing political climates Different ethical values 3-10
- 11. Legal Barriers A firm doing business abroad must understand and obey the laws of the host country Some countries have restrictions on how much local currency can be taken out of its borders Other countries may forbid foreigners from owning property Some countries fail to honor U.S. laws and/or fail to enforce their own laws In some parts of the world, copyright and patent laws are less strict than in the U.S. 3-11
- 12. Tariffs and Trade Restrictions • Fixed tariff is a specific amount of money levied on each unit of product brought into the country • Ad valorem tariff is based on the value of the item 3-12
- 13. Tariff and Trade Restrictions 3-13
- 14. Tariff and Trade Restrictions Dumping can spark trade wars The Obama administration imposed stiff tariffs on Chinese-made tires, allegedly dumped on the U.S. market China retaliated by slapping tariffs on U.S. chicken products exported to China 3-14
- 15. Political Barriers Political considerations affect international business daily Seldom in writing & change rapidly Political unrest may create a hostile or even dangerous environment for foreign business OPEC is an example of a cartel 3-15
- 16. Social and Cultural Barriers Research can help minimize the problems associated with social and cultural differences Differences in the spoken and written language Appropriate body language, posture, facial expressions and personal space may vary by nation Family roles may differ in different societies Other nations often have a different perception of time National customs and holidays must be respected Most nations use the metric system 3-16
- 18. Trade Agreements and Organizations 3-18
- 19. Trade Agreements and Organizations CA NA DA ME XICO USA 3-19
- 20. Trade Agreements and Organizations While controversial, NAFTA has become a positive factor for U.S. firms 3-20
- 21. Trade Agreements and Alliances 3-21
- 22. Trade Alliances and Organizations 3-22
- 23. Getting Involved Exporting and Importing Countertrade agreement is a foreign trade agreement that involves bartering products for other products instead of currency Export agents are middlemen that help companies by handling their international transactions 3-23
- 29. International Business Strategies A plan used by international companies that involves customizing products, promotion and distribution according to cultural technological, regional and national differences A strategy that involves standardizing products (promotion and distribution) for the whole world as if it were a single entity 3-29