MGMT Ch8 - Chapter8 GlobalManagement MGMT Chuck Williams...

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  1 Chapter 8 Global Management B-books, Ltd. MGMT Chuck Williams
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  2 What Is Global Business? After reading this section, you should be able to: 1. discuss the impact of global business and the trade rules and agreements that govern it.
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  3 What Is Global Business? Global Business The buying and selling of goods and services by people from different countries. 1
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  4 The Impact of Global  Business Multinational Corporation A corporation that owns businesses in two or more countries. Direct Foreign Investment A method of investment in which a company builds a new business or buys an existing business in a foreign country. 1.1
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  5 Foreign Investment in the U.S. 1.1
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  6 U.S. Foreign Investment Abroad 1.1
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  7 Trade Barriers Nontariff Barriers Tariff Voluntary export restraints Government import standards Customs valuation / classification Quotas Government subsidies 1.2
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  8 Trade Agreements Regional Trading Zones General Agreement on Tariffs and Trade Maastricht Treaty of Europe NAFTA ASEAN and APEC CAFTA 1.3
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  9 GATT GATT made it easier and cheaper for consumers in all countries to buy foreign products. Tariffs were cut 40 percent on average worldwide by 2005 Tariffs were eliminated in 10 specific industries Stricter limits were put on government subsidies GATT established protections for intellectual property Trade disputes between countries now are fully settled by arbitration panels from the WTO 1.3
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  10 World Trade Organization Location: Location: Geneva, Switzerland Geneva, Switzerland Established: Established: 1 January 1995 1 January 1995 Created by: Created by: Uruguay Round Uruguay Round negotiations (1986-1994) negotiations (1986-1994) Membership: Membership: 153 countries 153 countries (as of 23 July 2008) (as of 23 July 2008) Budget: Budget: 185 million Swiss francs 185 million Swiss francs for 2008 for 2008 Secretariat staff: Secretariat staff: 625 625 Head: Head: Pascal Lamy (director- Pascal Lamy (director- general) general) Functions: Functions: Administering WTO trade Administering WTO trade agreements agreements Forum for trade negotiations Forum for trade negotiations Handling trade disputes Handling trade disputes Monitoring national trade Monitoring national trade policies policies Technical assistance and Technical assistance and training for developing training for developing countries countries Cooperation with other Cooperation with other international organizations international organizations Adapted from Fact File http://www.wto.org Web Link 1.3
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  11 Maastricht Treaty of Europe Formed in 1992 with 12 European countries Total membership is now 25 countries Transformed these countries into the European Union, forming one economic market and one common currency (the Euro) Opened up and simplified trade among member nations http://europa.eu.int/ Web Link 1.3
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  12 NAFTA North American Free Trade Agreement between Canada,
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This note was uploaded on 06/17/2011 for the course BUS 347 taught by Professor Cherylluczak during the Fall '10 term at St. Xavier.

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MGMT Ch8 - Chapter8 GlobalManagement MGMT Chuck Williams...

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