Chapter Outline

Introduction

The Role of International Business

Why Nations Trade

Trade between Countries

Balance of Trade

International Trade Barriers

Economic Barriers

Legal and Political Barriers

Social and Cultural Barriers

Technological Barriers

Trade Agreements, Alliances, and Organizations

General Agreement on Tariffs and Trade (GATT)

The North American Free Trade Agreement (NAFTA)

The European Union (EU)

World Bank

International Monetary Fund

Getting Involved in International Business

Exporting and Importing

Trading Companies

Licensing and Franchising

Contract Manufacturing

Joint Ventures and

Direct Investment

Multinational Corporations

International Business Strategies

Developing Strategies

Managing the Challenges of Global Business