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CHAPTER 4 : Global Market Environment

This chapter deals with two broad issues involving the legal environment. The first issue is concerned with the problems that arise with international commercial contracts and settling disputes when they arise. Since there is no international commercial law or international commercial courts, disputes must be settled under the laws of one of the countries where the parties of the contract reside or, if an arbitration clause is included in the contract, by arbitration. Although there is no international commercial law per se, the agreement to enforce arbitration decisions that exists among a large number of countries does create a system that approaches international commercial court. The second issue concerns the common law bases for the U.S. legal system which creates problems for U.S. companies when interpreting the laws in countries whose legal systems are based either on code, socialist, or Islamic law. A review of the different legal systems is important to ap
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CHAPTER 3 : History and Geography: The Foundations of Culture

History and Geography: The Foundations of Culture What Should You Learn? The importance of history and geography in the understanding of international markets The effects of history on a country’s culture How culture interprets events through its own eyes How the United States moved west and how this more affected attitudes The effect of geographic diversity on economic profiles of a country Why markets need to be responsive to geography of a country Economic effects of controlling population growth versus aging population Communications are an integral part of international commerce The importance of culture to an international marketer The origins and elements of culture The impact of cultural borrowing The strategy of planned change and its consequences History Perspective in Global Business History helps define a nation’s mission         - How it perceives its neighbors - How it perceives itself - Its place in the world Insights into history are important

CHAPTER 2 : DISCUSSION QUESTION

1)  What does a nation's balance-of-payments statement indicate? 2)  A nation's balance-of-payments statement includes three accounts. Describe each of      those three (3) accounts. 3)  Using three examples, describe how nontariff barriers are used to restrict imports. 4)  Briefly describe the history and impact of the General Agreement on Tariffs and Trade      (GATT). 5)  Briefly describe how the World Trade Organization (WTO) functions. Fill in the Blank Questions 1)  The ______________ and the ________________ are two global institutions created to      assist nations in becoming and remaining economically viable. 2)  The ___________ is an institution, not an agreement as was GATT. 3)  A __________ is a specific unit or dollar limit applied to a particular type of good. 4)  A _________ is a tax imposed by a government on goods entering at its borders. 5)  A _________ is a tax imposed by a government on goods entering at its borders. 6) 

CHAPTER 2: The Dynamic Environment of International Trade

What Should You Learn? The basis for the reestablishment of world trade following World War II The importance of balance-of-payment figures to a country’s economy The effects of protectionism on world trade The seven types of trade barriers The importance of GATT and the World Trade Organization The emergence of the IMF and the World Bank. Global Perspective Trade Barriers – An International Marketer’s Minefield :- - Countries take advantage of U.S. open markets while putting barriers in the way of U.S.   exports. - Tariff and nontariff barriers to trade are major issues confronting international marketers. - To realize the benefits of the social, political, and economic changes, free trade must    prevail throughout the global marketplace. - WTO (World Trade Organization) Balance of Payments – The system of accounts that records a nation’s international finance transactions - Transactions recorded annually - Must always be in ba