International Marketing

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1) A free trade area is a deal between multiple countries that basically gets rid of most, if not all, customs duties and nontariff trade barriers for the countries involved in this deal. On page 295 the book sums it up to "an FTA provides its members with a mass market without barriers to impede the flow of goods and services. A common market is way more open even though a free trade area is already flexible. With a common market cooperation there is now no tariffs in internal trades, there are a new set of external tariffs. And there is a 'free flow' between each countries involved that allows workers to go anywhere and work. On the same page the book states "It is a unified economy and lacks only political unity to become a political union." In reference to a common market. So marketing towards a common market would be more simple then a free trade area because with a common market it's almost like marketing towards only one country and you wouldn't have to worry about as many differences as you would in a free trade area.

2) The four "Asian Tigers" are Hong Kong, South Korea, Singapore, and Taiwan. The reason they are in this group because they are the first four Asian countries after Japan to move from developing countries to industrialized countries. What has helped their growth has been their sphere of influence in Eastern Asia (328).Another reason how they have grown over time is their trade markets across the world. For example, South Korea is the center of trade links with China and a few former Soviet countries. They export high-value goods such as petrochemicals, electronics, machinery, and steel (328). All of this has helped developed their economy rapidly in the past 30 years.

3) The most rapidly growing economies in this region during the 1980s and 1990s were the group sometimes referred to as the Four Asian Tigers: Hong Kong, South Korea, Singapore, and Twain (328). A big reason the Asian Tigers have grown so fast is that they are rapidly industrializing and extending their trading activity to other parts of Asia. All four of these locations have played major roles in trade and development. They have done a great job learning how to grow and what will make them grow. They have strictly focused on exports, high saving rates, and an educated populace.Often described as the East Asian miracle, they were the first countries in Asia, after Japan, to move from a status of developing countries to newly industrialized countries. It continues to share in the book on page 328 what the countries have done well in, South Korea is the center of trade links with north China. South Korea exports such high-tech goods as petrochemicals, electronics, machinery, and steel, all of which are in direct competition with Japanese and US-made productions. These four countries have made it so far because they have jumped up, and seen what was needed and what would produce them the most money and growth. They used this by taking advantage of the agricultural land around them as well. Along with education, taking education seriously and therefore helping technology to boom.