Chapter_08

Chapter_08 - Chapter 8 Global Management MGMT Chuck...

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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 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 1.1
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5 Foreign Investment in the U.S. 1.1 1.1
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6 Foreign Investment in the U.S. Investment coming into the U.S., like this Honda Motor plant in Ohio, totaled $106 billion in 2004. 1.1 1.1
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7 U.S. Foreign Investment Abroad 1.1 1.1
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8 Trade Barriers Nontariff Barriers Nontariff Barriers Tariff Tariff Voluntary export restraints Voluntary export restraints Government import standards Government import standards Customs Valuation / Classification Customs Valuation / Classification Quotas Quotas Government Subsidies Government Subsidies 1.2 1.2
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9 Trade Agreements Regional Trading Zones Regional Trading Zones General Agreement on Tariffs and Trade General Agreement on Tariffs and Trade Maastricht Treaty of Europe Maastricht Treaty of Europe NAFTA NAFTA ASEAN and APEC ASEAN and APEC CAFTA CAFTA 1.3 1.3
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10 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 1.3
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11 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: 148 countries 148 countries (as of 13 October 2004) (as of 13 October 2004) Budget: Budget: 169 million Swiss francs 169 million Swiss francs for 2005 for 2005 Secretariat staff: Secretariat staff: 630 630 Head: Head: Supachai Panitchpakdi Supachai Panitchpakdi (director-general (director-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 1.3
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Chapter_08 - Chapter 8 Global Management MGMT Chuck...

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