Chapter 3 - International Mark eting P h i l i p R C a t e...

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I n t e r n a t i o n a l M a r k e t i n g I n t e r n a t i o n a l M a r k e t i n g The Dynamic Environment of International Trade Chapter 2 P h i l i p R. C a t e o r a J o h n L . G r a h a m McGraw-Hill/Irwin International Marketing Iftekhar Amin Chowdhury (IAC)
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2-2 Top Ten 2007 U.S. Trading Partners ($ billions, merchandise trade) Top Ten 2007 U.S. Trading Partners ($ billions, merchandise trade) Exhibit 2.1
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2-3 The 20 th to the 21 st Century The 20 th to the 21 st Century First Half of the Twentieth Century Depression (A depression is a severe economic downturn that lasts several years) WW I and WW II Move toward international cooperation among trading nations General Agreement on Tariffs an Trade (GATT) World Trade Organization (WTO)
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2-4 Last half of the 20 th century marred by competing approaches to economic development Socialist Marxist Democratic capitalist Rapid growth of war-torn economies and previously underdeveloped countries Large-scale economic cooperation and assistance Rising standards of living The 20th to the 21st Century The 20th to the 21st Century
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2-5 World Trade and U.S. Multinationals World Trade and U.S. Multinationals New global marketing opportunities 1950s – U.S. companies began to export and make significant investments in overseas marketing and production facilities 1960s – U.S. multinational corporations (MNCs) faced major challenges on two fronts Resistance to direct investment Increasing competition in export markets
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2-6 American MNCs confronted by a resurgence of competition from all over the world NIC (Newly Industrialized Countries) SOE (State-Owned Enterprises) The balance of merchandise trade U.S. trade deficit U.S. dilemma of how to encourage trading partners to reciprocate with open access to their markets without provoking increased protectionism WTO (World Trade Organization) NAFTA AFTA (American Free Trade Area) APEC (Asia-Pacific Economic Cooperation Conference) World Trade and U.S. Multinationals World Trade and U.S. Multinationals
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2-7 World’s 100 Largest Industrial Corporations (Annual Revenues) World’s 100 Largest Industrial Corporations (Annual Revenues) Exhibit 2.2
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2-8 Beyond the First Decade of the 21 st Century Beyond the First Decade of the 21 st Century U.S. economy has slowed dramatically World growth (except China) also slowed The Organization for Economic Cooperation and Development (OECD) estimates 3% average annual growth for next 25 years Developing countries will grow faster From an annual rate of 4% in the past quarter to a rate of 6% for the next 25 years
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2-9 Beyond the First Decade of the 21 st Century Beyond the First Decade of the 21 st Century Level of intensity of competition will change as companies focus on gaining entry or maintaining their position Emerging markets Regional trade areas Established markets in Europe, Japan, and the U.S.
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