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An Overview of InternationalBusinessIntroductionGIM | PGDM 20-21 | Term VSangram Sinha
Your own mind is a sacred enclosure intowhich nothing can enter except with yourpermission”- Arnold Bennett
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DOCOUNTRIESSTILLMATTER ?Notion of sovereigntyConcept of Nation + State = Nation-State(People)(Land)Olsonian”bandits”National GovernanceWhy do Nations compete ?11/8/20205
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What is International Business ?
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Ancient TimeInternational Trade3000 BCE : Sumerians & Egyptians with HarappancivilizationEvolution of Silk route opened by Han Dynasty (206 BC220 AD)From Greek Civilization to the fall of Romanempire in 5thcenturyEurope traded spice withFar EastSogdians ruled East-West trade route from 4thto8thcentury ADVikings & Varangians traded from 8thto 11thcentury and sailed through Scandinavia, WesternEurope & RussiaIndian 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 AmericansMassachusetts 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 -PoliticalEventsTreaty of Westphalia (1648) : Ending European WarWorld War I (19141918 )Bolshevik Revolution (1917):Dismantling Tsar / USSRTreaty of Versailles / ILO (1919)World War II (1939- 1945)OEEC (1949)OECD (1961)Council for Mutual Economic Assistance /COMECON (1949)3 Big GroupsBENELUX + France-Germany + ItalyECSC (1951)EEC (Treaty of Rome, 1957)UK , Swiss, Nordic countries & AustriaFree Trade AreaSpain, Portugal, Greece, Turkeyremained looseTax Heavens : Andorra, Monaco, Liechtenstein, Virgin IslandsBerlin Wall breakdown (1990)European UnionBREXIT (191819)11/8/202011
Evolution of TradeTheoriesMercantilism (pre -16thCentury)Nation’s wealth = Accumulated treasureGold & SilverCurrency

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