480 Final Essay Completed

At the start of 2010 a new free trade area was established incorporating China and the six founding members of the Association of South East Asian Nations (ASEAN). These countries are Brunei, Indonesia, Malaysia, Philippines, Singapore, and Thailand. The aim is to eliminate 90% of imported goods. This deal created the largest trade area in the world, with nearly 1.9bn people. Although there are undoubted gains there have also been warnings from South East Asia that some industries are not ready to compete with China and that jobs will be lost. Questions What is a free trade area? Outline the potential advantages and disadvantages of joining this area for the member countries. What factors determine the extent to which industries within a country gain or lose?

“In an era of globalization, firms build cross-border alliances or international strategic alliances (ISAs) to achieve certain strategic objectives, such as knowledge creation, with the help of overseas partners. Working with partners complicates the operation of such alliances, however, particularly when the partner firms come from countries with very different cultures, institutions, and levels of economic development. Do you agree with this statement? If yes, what would you propose to make international strategic alliances more effective/successful?

At the start of 2010 a new free trade area was established incorporating China and the six founding members of the Association of South East Asian Nations (ASEAN). These countries are Brunei, Indonesia, Malaysia, Philippines, Singapore, and Thailand. The aim is to eliminate 90% of imported goods. This deal created the largest trade area in the world, with nearly 1.9bn people. Although there are undoubted gains there have also been warnings from South East Asia that some industries are not ready to compete with China and that jobs will be lost. Question: What factors determine the extent to which industries within a country gain or lose?

During the last 20 to 30 years, there have been a number of countries whose economies have experienced important economic expansion and development.  One group of countries has been labeled the BRIC countries and the other the VISTA countries.  Identify each of the nine countries and provide some insights about their economies and economic importance.   The theories of absolute and comparative advantage have been offered as an economic rationale for trade between and among regions and countries.  Compare and contrast the two concepts.  Which of the two do you think is more important for explaining the growth in global trade during the last 25 years?  Why”

According to Porter's "diamond" model, the success or competitive advantage of a nation at the global stage depends upon the interaction of all of the following EXCEPT Related and supporting industries Firm strategy, structure, and rivalry Demand conditions and Factor endowments The local population arranging a multimillion-cash donation to the foreign firm

The more dissimilar two cultures are, the greater the degree of influence culture has on intercultural communication. How strongly intercultural communication has affected the business world

Understand the role of cross-functional teams in promoting integration?

On his first day in office, President Donald Trump took the United States out of the Trans Pacific Partnership (TPP), a proposed free trade deal with 11 other countries in the Asia-Pacific region, representing nearly 40% of global GDP. If the TPP had come into existence, the countries in the TPP would NOT be in violation of the most-favored nation (MFN) principle in the World Trade Organization (WTO) by giving each other preferential trade access. Why? A. There is an exception to MFN regarding the Generalized System of Preferences. Because Vietnam, a developing country, was one of the 12 members of the TPP, that exception applies to the whole partnership. B. Because the United States has the largest economy in the world, it gets to decide when MFN applies and when it doesn’t. C. There is an exception to MFN regarding regional trade agreements (RTA), and because all the proposed members inhabit the Asia-Pacific region, the TPP would have been an RTA, and therefore, members could give…

Economics Question

From 1865-1900, the U.S. exploded onto the world stage as a true industrial power. A number of things contributed to the boom, but one of the biggest reasons was the flood of immigrants that entered the U.S. between 1880 and 1910. Why did these immigrants come to the U.S.? How did they enter the U.S.? In what sort of conditions did they live and work? How did other Americans react to them? Most importantly, explain the impact immigration had on the U.S. as a whole in this time period

NAFTA has benefited the Canadian, Mexican and U.S. economy, while also having some drawbacks. I believe NAFTA was initially established to increase international trade, lower barriers, and build the economies of those involved. It was ultimately successful in eliminating tariffs and reducing some trade barriers. While increasing trade between the involved countries, it also created jobs, increased foreign direct investment (FDI), and lowered prices for consumers. However, many are still opposed to NAFTA and argue that the cons outweigh the pros. While supporting many jobs, many industries were still negatively affected such as the manufacturing, automotive, textile, and computer industries. Mexico was also negatively affected because the U.S. allowed for government subsidized agricultural products within the country. As a result, many Mexican farmers could not compete with this which put them out of business. That is why NAFTA was eventually converted to the United States-Mexico-Canada…

As you may have heard, Russia decided to invade its neighbor, which has led to international condemnation (albeit not on all fronts). The EU, a former major importer of gas from Russai, went ahead with sanctions. Imagine, if you will, that the respective heads of state get together and try to negotiate a trade agreement to end sanctions. They each have three possible choices: (a) Maintain tariffs against the other nation (T); (b) Seek mediation from the WTO, which would implement an international trade agreement at a small cost (M); (c) Unilaterally remove tariffs (F). The payoff matrix is as given below. Is there a dominant strategy for either player? Find all the (pure strategy) Nash equilibria in the game. How would this change if, instead, the mediation is costless and yields a payoff of 50 to each nation (assuming mutually successful mediation) and a payoff of 0 (if the other nation chooses otherwise)? **

Suppose France charges 2 Euros tariff on imports of a particular product. It can domestically produce this product at 8 Euros. There are only 2 other countries that produce this product: Turkey at 7 Euros, and Brazil at 5 Euros. Without any regional integration agreement, France would consume (French/Brazilian/Turkish) products. When it enters into a customs union agreement with Turkey, it would consume (French/Brazilian/Turkish) products. This is (beneficial/harmful) to the economies involved.

The war Russia is waging against Ukraine has already halted most of Ukraine’s production capabilities. Similarly, the sanctions raised against Russia by the international community end decades of economic cooperation across several economic sectors. Considering both countries main imports and exports along with their export share of world production and how international supply chains will adjust to the economic disruptions brought by violence. Highlight three (3) ways in which you believe the disruptions in the international supply chains may affect the Caribbean region.

When a country has a comparative advantage in the production of a good, it means that it can produce this good at a lower opportunity cost than its trading partner. Then the country will specialize in the production of this good and trade it for other goods. The following graphs show the production possibilities frontiers (PPFs) for Candonia and Sylvania. Both countries Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.   produce lemons and coffee, each initially (i.e., before specialization and trade) producing 18 million pounds of lemons and 9 million pounds of coffee, as indicated by the grey stars marked with the letter A. Candonia has a comparative advantage in the production of lemons, while Sylvania has a comparative advantage in the production of coffee. Suppose that Candonia and Sylvania specialize in the production of the goods in which each has a comparative…

Suppose the two countries we considered in the numerical example in the text were to integrate their automobile market with a third country with an annual market for 3,750,000 automobiles. Find the number of firms, the output per firm, and the price per automobile in the new integrated market after trade. You are given the following information: The total sales (S) in the industry after integration are 6,250,000 automobiles per year. 30,000 xQ The marginal revenue curve facing any one producer is described by the equation MR = P - Each producer has the following costs: fixed costs (F) of $750,000,000 and a constant marginal cost (c) of $5,000. In equilibrium, the number of firms will be (Round your answer down to the nearest integer.) Help!" The equilibrium price will be $ (Enter your answer to the nearest dollar.) The equilibrium output per firm is (Round your answer to the nearest integer.)

ARTICLE/HISTORY OF GLOBAL MARKET INTEGRATION   - GLOBAL MARKET INTEGRATION DID NOT HAPPEN OVERNIGHT. IT WAS THE RESULT OF THE ESTABLISHMENT OF A GLOBAL ECONOMY THAT INVOLVED THE HOMOGENIZATION OF TRADE AND COMMERCE. PRIOR TO THE TRENDS IN GLOBALIZATION OF THE 20TH CENTURY, INTERNATIONAL TRADE AND EXCHANGE OF GOODS AND SERVICES WERE ALREADY PRACTICED. HARVEY (1990) SEES THAT CITY AND COUNTRIES WERE ABLE TO EXTEND THEIR REACH BEYOND BORDERS AND PATTERNS OF TRADE AND TECHNOLOGY BECAUSE OF DEVELOPMENTS IN SHIPPING AND NAVIGATION.   THIS WAS OBSERVABLE IN THE DEVELOPMENT OF MARITIME TRANSPORT THROUGHOUT HISTORY. COLONIALISM AND IMPERIALISM ROSE AS THE NEW WAYS OF PUTTING ORDER TO THE ECONOMIC INTERRELATIONSHIPS AMONG COUNTRIES. EQUITY, CORPORATE OWNERSHIP, MANAGEMENT SUBSIDIARIES, AND CENTRAL HEADQUARTERS WHICH SUPPLY AND DISTRIBUTE GOODS AND SERVICES WERE ESTABLISHED THROUGH COLONIALISM. THE SPANISH GOVERNMENT IN THE 1960S, FOR INSTANCE MADE USE OF ITS COLONIES LIKE THE PHILIPPINES AND…

You're the CEO of a small company traveling to another country (assume a country of your choice) to complete a business deal with a foreign company.  Your plane landed there on time, you're feeling fine, and everything seems to be going well.  The cab driver, who doesn't speak much English, understood where you needed to go and started driving.  He starts to listen to a Justin Bieber song and asks you in broken English what type of music you like.  As your cab enters the hotel, you notice a McDonald's restaurant across the street with familiar golden arches.  You check-in with your credit card, call your spouse from your iPhone and exchange some dollars at the money exchange place at the lobby of the hotel.  You then get some take-out food from the McDonald's since you'll get plenty of opportunities to dine in local restaurants later on. When returning to your hotel room, you wonder why the instructor at the culture training class asked you to be careful about cultural differences when…

If Argentina has an absolute advantage in the production of wheat and Chile has an absolute advantage in the production of copper, then        A) neither country has anything to gain from specialisation and trade. B) it is reasonable to expect that specialisation and trade will benefit both countries. C) it is reasonable to expect that trade will benefit both countries, but specialisation will not. D) it is reasonable to expect that specialisation will benefit both countries, but trade will not

Fill in the gaps (1 word per gap), there are extra words. Studying international business is a complex task. The nature of the topic demands a generalist approach that (0)……………….. not just diverse countries, but cultures, industry sectors and specific firms. Whereas international trade has existed for millennia, it has grown from an estimated 6% of world GDP in the early 19th Century to approximately 60% in the early 21st Century – a tenfold rise. At its most basic, it includes the sale of goods and services between countries. Yet, varying forms ofinternational business can be observed. For example, a business that produces components or goods overseas but sells them (1)……………….. can be considered an international business, as can a firm that (2)……………….. services, such as call centers, to locations where labor expenses might be cheaper. For most organizations, decisions around building, producing, and selling products or services are informed by many factors. Fundamentally, a firm’s…

When Korea moved to an export-oriented industrialization strategy in the mid-1960s it did not dismantle the protection of the existing infant industries. Infant industries were vigorously promoted alongside the export drive, the main thrust coming in the mid-1970s under the name of “heavy and chemical industrialization” policy. In the early 1980s, Korean industrial policy ceased to favor explicitly certain industries but had to cope with the legacy of previousindustrial policy. In summary, Korean infant industries were not allowed to live complacently behind the wall of protection but rather were driven to compete and improve performance. The process was not interrupted by foreign exchange crises. This should have also led to faster growth of output for infant industries. Protected infant industries failed to grow fast in most developing countries apparently for the same reasons they failed to mature a) What could have been the motivations of the Korean government for carrying out an…

If Big Macs were a durable good that could be costlessly transported between countries, which of the following would present an arbitrage opportunity? Check all that apply. Exporting Big Macs from Poland to China Exporting Big Macs from the United States to the Eurozone Exporting Big Macs from Norway to China

Why would multinational corporations from the U.S. be interested in emerging and developing markets (e.g. Latin America, Africa, Central and Southeast Asia)? Would MNCs be better off focusing their efforts on more industrialized markets (US, Canada, western Europe, Australia, Japan)? Explain?

You are a strategist with a multinational company. Summarize the implications of COVID-19 on international trade. List three potential changes to trade policy that could occur as a result of the COVID-19 pandemic.

Three former Uruguayan presidents recommended the current administration that without abandoning Mercosur, it should look at major trade blocks associations but at the same time a strong self criticism is needed because maybe the problem is not in Mercosur but in Uruguay. The absence of conditions in the Uruguayan economy to compete for markets and investments, the wrong energy and foreign policies and the infinite tolerance with the bilateral mechanism imposed by Argentina and Brazil in the region are the main causes by which Mercosur has seen its rules and institutions erode and most probably leading it to a major failure. The three leaders are Julio Maria Sanguinetti (1985/1990 and 1995/2000); Luis Alberto Lacalle (1990/1995) and Jorge Batlle (2000/2005). The only living president missing at the conference was Tabare Vasquez (2000/2005), who belongs to the current ruling coalition. “We need powerful friends and partners but distant” said Lacalle who suggested Uruguay should reach…

Three former Uruguayan presidents recommended the current administration that without abandoning Mercosur, it should look at major trade blocks associations but at the same time a strong self criticism is needed because maybe the problem is not in Mercosur but in Uruguay. The absence of conditions in the Uruguayan economy to compete for markets and investments, the wrong energy and foreign policies and the infinite tolerance with the bilateral mechanism imposed by Argentina and Brazil in the region are the main causes by which Mercosur has seen its rules and institutions erode and most probably leading it to a major failure. The three leaders are Julio Maria Sanguinetti (1985/1990 and 1995/2000); Luis Alberto Lacalle (1990/1995) and Jorge Batlle (2000/2005). The only living president missing at the conference was Tabare Vasquez (2000/2005), who belongs to the current ruling coalition. “We need powerful friends and partners but distant” said Lacalle who suggested Uruguay should reach…