Business notebook #2Chapter 4: international environment of business 1/4Items made in other countries●Bookbag-Columbia●Lip gloss- New York●Charger- chinaTrend is most products are made outside of the U.S. because it is cheaper that way.●International Business-business activities that occur between 2 or more countries●Pacific Rim- countries on the western edge of the pacific rim●World trade organization(WTO)-international organization that creates and enforcesthe rules governing trade among countries●Trading bloc-a group of 2 or more countries who agree to remove all restrictionsbetween them on sales of goods and services,while imposing barriers on trade with andinvestment from countries that are not part of the bloc●European Union(EU)-is a political and economic union of 28 member states that arelocated primarily in Europe.●Euro-the single European currency, which replaced the national currencies of France,Germany, Spain, Italy, Greece, Portugal, Luxembourg, Austria, Finland, the Republic ofIreland, Belgium, and the Netherlands in 2002. Seventeen member states of the EuropeanUnion now use the euro.●North American free trade agreement(NAFTA)-is an agreement among the UnitedStates, Canada and Mexico designed to remove tariff barriers between the three countries.●INternational Monetary fund-an international organization that promotes thestabilization of the world's currencies and maintains a monetary pool from which membernations can draw in order to correct a deficit in their balance of payments●World bank-an international financial institution that provides loans to developingcountries●Strategic alliance-2 companies make an alliance together to help each other beat outother companies while remaining competitors still.Ex:Starbucks & Barnes and NobleInternational organizations●International Monetary Fund (IMF)-located in d.c., made up of 189 countries, formedto secure financial stability and economic growth.
