An Overview of InternationalBusinessIntroductionGIM | PGDM 20-21 | Term VSangram Sinha
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DOCOUNTRIESSTILLMATTER ?•Notion of sovereignty•Concept of Nation + State = Nation-State•(People)(Land)•Olsonian”bandits”•National Governance•Why do Nations compete ?11/8/20205
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Ancient TimeInternational Trade•3000 BCE : Sumerians & Egyptians with Harappancivilization•Evolution of Silk route opened by Han Dynasty (206 BC–220 AD)•From Greek Civilization to the fall of Romanempire in 5thcentury–Europe traded spice withFar East•Sogdians ruled East-West trade route from 4thto8thcentury AD•Vikings & Varangians traded from 8thto 11thcentury and sailed through Scandinavia, WesternEurope & Russia•Indian export of spices got mentions in historypost 850 AD.11/8/20209
Middle Age International Trade11/8/202010Vasco da Gama started European spicetrade in 14981498Dutch expedition (1595) & Dutch EastIndia Co. (1602)1595Dutch East India Co. goes bankrupt1799Opium War (1840)–Britain invadesChina1840Late entry of Americans–Massachusetts trading with Sumatranin early 19th century. SiameseAmerican treaty (1833) calls for freetrade (except rice & arms)early 19th centuryFree Trade Agreement (1860) betweenBritain & France under the presidencyof Napoleon III1860
Modern AgeInternationalTrade -PoliticalEvents•Treaty of Westphalia (1648) : Ending European War•World War I (1914–1918 )•Bolshevik Revolution (1917):Dismantling Tsar / USSR•Treaty of Versailles / ILO (1919)•World War II (1939- 1945)•OEEC (1949)→OECD (1961)•Council for Mutual Economic Assistance /COMECON (1949)•3 Big Groups•BENELUX + France-Germany + Italy→ECSC (1951)→EEC (Treaty of Rome, 1957)•UK , Swiss, Nordic countries & Austria→Free Trade Area•Spain, Portugal, Greece, Turkey→remained loose•Tax Heavens : Andorra, Monaco, Liechtenstein, Virgin Islands•Berlin Wall breakdown (1990)•European Union→BREXIT (1918–19)11/8/202011