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Unformatted text preview: ustry Very maquiladora Trade with both Europe and Asia has increased Now competitive with Asia for the U.S. market Economic Performance: Economic Performance: South America South American countries have accumulated South heavy foreign debt and experienced severe inflation Major development is inter-country trade, Major including free market policies among South American countries American South American countries increasingly South looking to do business with U.S. looking Economic Performance: Economic Performance: European Union Privatization of traditionally nationalized industries Emergence of the EU as an operational economic Emergence union Economic linkages between the EU and newly Economic emerging Central and Eastern European countries emerging Challenge is to absorb former communist bloc Challenge countries countries Foreign MNCs gain foothold in EU by: Acquisitions, Alliances, Cooperative R&D efforts Economic Performance: Economic Performance: Central and Eastern Europe Russia, Czech Republic, Hungary, Poland: Dismantling of Russian price controls Perestroika—economic and political restructuring Privatization Inflation Crime Membership in International Monetary Fund (IMF) Political uncertainty Economic Performance: Economic Performance: Asia Japan Phenomenal economic success in 1970s and 1980s Ministry of International Trade and Industry (MITI) Keiretsus Vertically integrated industries Holdings provide assistance needed in providing goods and Holdings services to end users services Decade long recession in 1990s Decade Bank loans backed by real estate or projected revenues By 2000, most major banks had billions of dollars in By uncollectible loans uncollectible International competition has increased Economic Performance: Economic Performance: Asia China Annual real economic growth of 10 percent during the Annual 1980’s and early 1990’s 1980’s More rec...
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