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introduction global business

Global Business Today 9th Edition Charles Hill - Solutions

2. What are the economic and political arguments for regional economic integration? Given these arguments, why don’t we see more substantial examples of integration in the world economy?
1. NAFTA has produced significant net benefits for the Canadian, Mexican, and U.S. economies. Discuss.
2. Your company has assigned you with the task of investigating the various trade blocs in Africa to see if your company can benefit from these trade agreements while expanding into African markets.The first trade bloc you come across is COMESA.Prepare a short executive summary for your company,
1. The World Trade Organization maintains a database of regional trade agreements. You can search this database to identify all agreements that a specific country participates in. Search the database to identify the trade agreements that Japan currently participates in. What patterns do you see?
4. If you were running the English Premier League, what would your strategy be on broadcast rights going forward?It’s now almost two decades since the member-states of the European Union (EU) started to implement a treaty calling for the establishment of a single market for goods and services
3. Who benefits from the EU ruling? Who will the losers be?It’s now almost two decades since the member-states of the European Union (EU) started to implement a treaty calling for the establishment of a single market for goods and services across the union, and yet progress toward this goal is
2. Do you think the European Court of Justice was right to rule that the league could not stop people from buying Premier League soccer feeds from other countries? Explain your reasoning?It’s now almost two decades since the member-states of the European Union (EU) started to implement a treaty
1. Why do you think the English Premier League has historically charged different prices for broadcasting rights in different European markets?It’s now almost two decades since the member-states of the European Union (EU) started to implement a treaty calling for the establishment of a single
11. Home countries can adopt policies designed to both encourage and restrict FDI. Host countries try to attract FDI by offering incentives, and try to restrict FDI by dictating ownership restraints and requiring that foreign MNEs meet specific performance requirements.Critical Thinking and
10. The costs of FDI to the home country include adverse balance-of-payments effects that arise from the initial capital outflow and from the export substitution effects of FDI. Costs also arise when FDI exports jobs abroad.
9. The benefits of FDI to the home (source) country include improvement in the balance of payments as a result of the inward flow of foreign earnings, positive employment effects when the foreign subsidiary creates demand for home-country exports, and benefits from a reverse resource-transfer
8. The costs of FDI to a host country include adverse effects on competition and balance of payments and a perceived loss of national sovereignty.
7. Benefits of FDI to a host country arise from resourcetransfer effects, employment effects, and balance-ofpayments effects.
6. Political ideology is an important determinant of government policy toward FDI. Ideology ranges from a radical stance that is hostile to FDI to a noninterventionist, free market stance. Between the two extremes is an approach best described as pragmatic nationalism.
5. Dunning has argued that location-specific advantages are of considerable importance in explaining the nature and direction of FDI. According to Dunning, firms undertake FDI to exploit resource endowments or assets that are location specific.
4. Knickerbocker’s theory suggests that much FDI is explained by imitative behavior by rival firms in an oligopolistic industry.
3. Firms often prefer FDI to licensing when (a) a firm has valuable know-how that cannot be adequately protected by a licensing contract, (b) a firm needs tight control over a foreign entity in order to maximize its market share and earnings in that country, and (c) a firm’s skills and
2. High transportation costs or tariffs imposed on imports help explain why many firms prefer FDI or licensing over exporting.
1. Any theory seeking to explain FDI must explain why firms go to the trouble of acquiring or establishing operations abroad when the alternatives of exporting and licensing are available to them.
5. You are the international manager of a U.S. business that has just developed a revolutionary new personal computer that can perform the same functions as existing PCs but costs only half as much to manufacture. Several patents protect the unique design of this computer. Your CEO has asked you to
4. Read the Management Focus on Cemex, and then answer the following questions:a. Which theoretical explanation, or explanations, of FDI best explains Cemex’s FDI?b. What is the value that Cemex brings to a host economy? Can you see any potential drawbacks of inward investment by Cemex in an
3. What are the strengths of the eclectic theory of FDI?Can you see any shortcomings? How does the eclectic theory influence management practice?
2. Compare and contrast these explanations of FDI:internalization theory and Knickerbocker’s theory of FDI. Which theory do you think offers the best explanation of the historical pattern of FDI? Why?
1. In 2008, inward FDI accounted for some 63.7 percent of gross fixed capital formation in Ireland, but only 4.1 percent in Japan (gross fixed capital formation refers to investments in fixed assets such as factories, warehouses, and retail stores). What do you think explains this difference in FDI
2. An integral part of successful foreign direct investment is to understand the target market opportunities as well as the nature of the risk inherent in possible investment projects, particularly in developing countries. You work for a company that builds wastewater and sanitation infrastructure
1. The World Investment Report published annually by UNCTAD provides a summary of recent trends in FDI as well as quick access to comprehensive investment statistics. Identify the table of largest transnational corporations from developing and transition countries. The ranking is based on the
4. Why do you think reform of FDI regulations in India has been so difficult?For years now, there has been intense debate in India about the wisdom of relaxing the country’s restrictions on foreign direct investment into its retail sector. The Indian retailing sector is highly fragmented and
3. Who stands to lose as a result of foreign entry into the Indian retail sector?For years now, there has been intense debate in India about the wisdom of relaxing the country’s restrictions on foreign direct investment into its retail sector. The Indian retailing sector is highly fragmented and
2. What are the potential benefits to India of entry by foreign retail establishments?For years now, there has been intense debate in India about the wisdom of relaxing the country’s restrictions on foreign direct investment into its retail sector. The Indian retailing sector is highly fragmented
1. Why do you think that the Indian retail sector is so fragmented?For years now, there has been intense debate in India about the wisdom of relaxing the country’s restrictions on foreign direct investment into its retail sector. The Indian retailing sector is highly fragmented and dominated by
9-5 Understand the implications for business that are inherent in regional economic integration agreements.
9-4 Explain the history, current scope, and future prospects of the world’s most important regional economic agreements.
9-3 Understand the economic and political arguments against regional economic integration.
9-2 Understand the economic and political arguments for regional economic integration.
9-1 Describe the different levels of regional economic integration.
10. Business may have more to gain from government efforts to open protected markets to imports and foreign direct investment than from government efforts to protect domestic industries from foreign competition. Whose interests should be the paramount concern
9. Trade barriers act as a constraint on a firm’s ability to disperse its various production activities to optimal locations around the globe. One response to trade barriers is to establish more production activities in the protected country.
8. The completion of the Uruguay Round of GATT talks and the establishment of the World Trade Organization have strengthened the world trading system by extending GATT rules to services, increasing protection for intellectual property, reducing agricultural subsidies, and enhancing monitoring and
7. The GATT was a product of the postwar free trade movement. The GATT was successful in lowering trade barriers on manufactured goods and commodities.The move toward greater free trade under the GATT appeared to stimulate economic growth.
6. The problems with strategic trade policy are twofold:(a) Such a policy may invite retaliation, in which case all will lose, and (b) strategic trade policy may be captured by special-interest groups, which will distort it to their own ends.
5. Strategic trade policy suggests that with subsidies, government can help domestic firms gain first-mover advantages in global industries where economies of scale are important. Government subsidies may also help domestic firms overcome barriers to entry into such industries.
4. The infant industry argument for government intervention contends that to let manufacturing get a toehold, governments should temporarily support new industries. In practice, however, governments often end up protecting the inefficient.
3. A common political argument for intervention is that it is necessary to protect jobs. However, political intervention often hurts consumers, and it can be selfdefeating.Countries sometimes argue that it is important to protect certain industries for reasons of national security. Some argue that
2. There are two types of arguments for government intervention in international trade: political and economic. Political arguments for intervention are concerned with protecting the interests of certain groups, often at the expense of other groups, or with promoting goals with regard to foreign
1. Trade policies such as tariffs, subsidies, antidumping regulations, and local content requirements tend to be pro-producer and anticonsumer. Gains accrue to producers (who are protected from foreign competitors), but consumers lose because they must pay more for imports.
5. Reread the Management Focus, “Protecting U.S.Magnesium.” Who gains most from the antidumping duties levied by the United States on imports of magnesium from China and Russia? Who are the losers? Are these duties in the best national interests of the United States?
4. You are an employee of a U.S. firm that produces personal computers in Thailand and then exports them to the United States and other countries for sale. The personal computers were originally produced in Thailand to take advantage of relatively low labor costs and a skilled workforce. Other
3. Given the arguments relating to the new trade theory and strategic trade policy, what kind of trade policy should business be pressuring government to adopt?
2. Whose interests should be the paramount concern of government trade policy—the interests of producers(businesses and their employees) or those of consumers?
1. Do you think governments should consider human rights when granting preferential trading rights to countries? What are the arguments for and against taking such a position?
2. The number of member nations of the World Trade Organization has increased considerably in recent years. In addition, some nonmember countries have observer status in the WTO. Such status requires accession negotiations to begin within five years of attaining this preliminary position. Visit
1. You work for a pharmaceuticals company that hopes to provide products and services in New Zealand. Yet management’s current knowledge of this country’s trade policies and barriers is limited. After searching a resource that summarizes the import and export regulation, outline the most
3. The restrictions imposed by China on rare earth metals has resulted in some companies (e.g., Toyota, Renault, Tesla) starting to look for alternatives. They plan to use parts that do not include rare earth metals. Is this a good solution?Rare earth metals are a set of 17 chemical elements in the
2. Given that 97 percent of rare earth metal production is now done in China, an increase from 27 percent to 97 percent between 1990 and 2010, do you think countries such as Australia, Canada, and the United States should reconsider their environmental restrictions on product of such metals?Rare
1. Which groups benefitted the most from China imposing an export quota on rare earth metals? Did it give the Chinese domestic manufacturers a significant cost advantage? Did it result in dramatically increased quality and environmental standards?Rare earth metals are a set of 17 chemical elements
8-6 Identify the implications for managers of the theory and government policies associated with FDI.
8-5 Explain the range of policy instruments that governments use to influence FDI.
8-4 Describe the benefits and costs of FDI to home and host countries.
8-3 Understand how political ideology shapes a government’s attitudes toward FDI.
8-2 Explain the different theories of FDI.
8-1 Recognize current trends regarding foreign direct investment (FDI) in the world economy.
8. The world’s poorest countries are at a competitive disadvantage in every sector of their economies. They have little to export. They have no capital; their land is of poor quality; they often have too many people given available work opportunities; and they are poorly educated. Free trade
7. Drawing upon the new trade theory and Porter’s theory of national competitive advantage, outline the case for government policies that would build national competitive advantage in biotechnology. What kinds of policies would you recommend that the government adopt? Are these policies at
6. Reread the Country Focus on moving white-collar jobs offshore.a. Who benefits from the outsourcing of skilled whitecollar jobs to developing nations? Who are the losers?b. Will developed nations like the United States suffer from the loss of high-skilled and highpaying jobs?c. Is there a
5. Reread the Country Focus “Is China a Neomercantilist Nation?”a. Do you think China is pursuing an economic policy that can be characterized as neo-mercantilist?b. What should the United States, and other countries, do about this?
4. What are the potential costs of adopting a free trade regime? Do you think governments should do anything to reduce these costs? What?
3. Unions in developed nations often oppose imports from low-wage countries and advocate trade barriers to protect jobs from what they often characterize as“unfair” import competition. Is such competition“unfair”? Do you think that this argument is in the best interests of (a) the unions,
2. Is free trade fair? Discuss!
1. Mercantilism is a bankrupt theory that has no place in the modern world. Discuss.
2. Food in an integral part of understanding different countries, cultures, and lifestyles. You run a chain of high-end premium restaurants in the United States, and you are looking for unique Australian wines you can import. However, you must first identify which Australian suppliers can provide
1. The World Trade Organization International Trade Statistics is an annual report that provides comprehensive, comparable, and updated statistics on trade in merchandise and commercial services. The report allows an assessment of world trade flows by country, region, and main product or service
4. What international trade theory (or theories) best explain the rise of India as a major exporter of pharmaceuticals?One of the great success stories in international trade in recent years has been the strong growth of India’s pharmaceutical industry. The country used to be known for producing
3. Do the benefits from trade with the Indian pharmaceutical sector outweigh the losses?One of the great success stories in international trade in recent years has been the strong growth of India’s pharmaceutical industry. The country used to be known for producing cheap knockoffs of patented
2. Who might have lost out as a result of the recent rise of the Indian pharmaceutical industry?One of the great success stories in international trade in recent years has been the strong growth of India’s pharmaceutical industry. The country used to be known for producing cheap knockoffs of
1. How might (a) U.S. pharmaceutical companies and (b) U.S. consumers benefit from the rise of the Indian pharmaceutical industry?One of the great success stories in international trade in recent years has been the strong growth of India’s pharmaceutical industry. The country used to be known for
7-5 Explain the implications for managers of developments in the world trading system.
7-4 Describe the development of the world trading system and the current trade issue.
7-3 Summarize and explain the arguments against strategic trade policy.
7-2 Understand why governments sometimes intervene in international trade.
7-1 Identify the policy instruments used by governments to influence international trade flows.
13. Multinational corporations that are practicing business-focused sustainability integrate a focus on market orientation, addressing the needs of multiple stakeholders, and adhering to corporate social responsibility principles.
12. To make sure that ethical issues are considered in international business decisions, managers should(a) favor hiring and promoting people with a wellgrounded sense of personal ethics; (b) build an organization culture and exemplify leadership behaviors that place a high value on ethical
11. The concept of justice developed by John Rawls suggests that a decision is just and ethical if people would allow it when designing a social system under a veil of ignorance.
10. Rights theories recognize that human beings have fundamental rights and privileges that transcend national boundaries and cultures. These rights establish a minimum level of morally acceptable behavior.
9. Kantian ethics state that people should be treated as ends and never purely as means to the ends of others.People are not instruments, like a machine. People have dignity and need to be respected as such.
8. Utilitarian approaches to ethics hold that the moral worth of actions or practices is determined by their consequences, and the best decisions are those that produce the greatest good for the greatest number of people.
7. The Friedman doctrine states that the only social responsibility of business is to increase profits, as long as the company stays within the rules of law. Cultural relativism contends that one should adopt the ethics of the culture in which one is doing business. The righteous moralist
6. Moral philosophers contend that approaches to business ethics such as the Friedman doctrine, cultural relativism, the righteous moralist, and the naive immoralist are unsatisfactory in important ways.
5. Unethical behavior is rooted in poor personal ethics, societal culture, the psychological and geographic distances of a foreign subsidiary from the home office, a failure to incorporate ethical issues into strategic and operational decision making, a dysfunctional culture, and failure of leaders
4. Ethical dilemmas are situations in which none of the available alternatives seems ethically acceptable.
3. The most common ethical issues in international business involve employment practices, human rights, environmental regulations, corruption, and social responsibility of multinational corporations.
2. Ethical issues and dilemmas in international business are rooted in the variations among political systems, law, economic development, and culture from nation to nation.
1. The term ethics refers to accepted principles of right or wrong that govern the conduct of a person, the members of a profession, or the actions of an organization. Business ethics are the accepted principles of right or wrong governing the conduct of businesspeople, and an ethical strategy is
7. Reread the Management Focus on Unocal, and answer the following questions:a. Was it ethical for Unocal to enter into a partnership with a brutal military dictatorship for financial gain?b. What actions could Unocal have taken, short of not investing at all, to safeguard the human rights of
6. Milton Friedman stated in his famous article in The New York Times in 1970 that “the social responsibility of business is to increase profits.” Do you agree? If not, do you prefer that multinational corporations adopt a focus on corporate social responsibility or sustainability practices?
5. A manager from a developing country is overseeing a multinational’s operations in a country where drug trafficking and lawlessness are rife. One day, a representative of a local “big man” approaches the manager and asks for a “donation” to help the big man provide housing for the poor.
4. Do you think facilitating payments (speed payments)should be ethical?
3. Under what conditions is it ethically defensible to outsource production to the developing world where labor costs are lower when such actions also involve laying off long-term employees in the firm’s home country?
2. Drawing upon John Rawls’s concept of the veil of ignorance, develop an ethical code that will (a) guide the decisions of a large oil multinational toward environmental protection and (b) influence the policies of a clothing company in their potential decision of outsourcing its manufacturing
1. A visiting American executive finds that a foreign subsidiary in a less developed country has hired a 12-year-old girl to work on a factory floor, in violation of the company’s prohibition on child labor. He tells the local manager to replace the child and tell her to go back to school. The

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