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Chapter 2

Business Today. Chapter 2. Global Business. The Globalization of Business. Why Nations Trade The Growing Importance of World Markets. Absolute advantage Comparative advantage National competitive advantage Multinational corporations. Prentice Hall. 2.

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Chapter 2

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  1. BusinessToday Chapter 2 Global Business

  2. The Globalization of Business • Why Nations Trade • The Growing Importance of World Markets Absolute advantage Comparative advantage National competitive advantage Multinational corporations Prentice Hall 2

  3. Forms of International Business Activity • Importing and Exporting • Licensing • Franchising • Forming Joint Ventures and Strategic Alliances • Running Wholly Owned Facilities Prentice Hall 3

  4. The Globalization of Business • Overseas Investment in the United States • International Business Economics • Balance of Trade • Balance of Payments Foreign direct investment (FDI) Trade surplus Trade deficit Intrafirm trade Prentice Hall 4

  5. Government Actions Relating to Int’l Bus. • Projectionist Measures • Tariffs • Quotas • Subsidies • Restrictive Standards • Unfair Trade Practices Protectionism Voluntary export restrictions (VERs) Embargo Dumping Prentice Hall 5

  6. Trade Agreements and Trade Finance • The General Agreement on Tariffs and Trade (GATT) • The World Trade Organization (WTO) • The Asia Pacific Economic Cooperation Council (APEC) Free Trade Prentice Hall 6

  7. Trade Agreements and Trade Finance • Trading Blocs • European Union • North American Free Trade Agreement (NAFTA) • Association of Southeast Asian Nations (ASEAN) • Mercosur Prentice Hall 7

  8. Trade Agreements and Trade Finance • Unilateral Trade Privileges • International Trade Finance • Economic Summit Meetings Most Favored Nation (MFN) Prentice Hall 8

  9. US Measures Governing Foreign Trade • Promotion of Foreign Trade • Promotion of Ethical Business Standards • Promotion of Foreign Investment in the US Foreign sales corporations (FSCs) Prentice Hall 9

  10. Adjustments in Currency Values • Foreign Exchange • Exchange Rate • Floating Exchange Rate • Countertrade Prentice Hall 10

  11. Government Actions Relating to Int’l Bus. • Management of the Global Corporation • Cultural Differences in International Business Prentice Hall 11

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