MKTG 341 Chapter 16: The Global Marketplace
12 May 2017
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Global firm = a firm that, by operating in more than one country, grains r&d, production, marketing, & financial advantages in its costs & reputation that are not available to purely domestic competitors. The world trade organization: general agreement on tariffs & trade (gatt) est. 1947, modified 1994, designed to promote world trade by reducing tariffs & other international trade barriers: world trade organization (wto) replaced gatt 1995. Regional free trade zones: some countries have formed free trade zones or economic communities, eu est. 1957, created single european market, euro as common currency: north american free trade agreement (nafta) est. Mexico, no trade barriers & investment restrictions: 2012 canada joined trans-pacific partnership (including us, australia, brunei, chile, japan, Malaysia, new zealand, peru, singapore, vietnam & mexico: canada has business access with eu (ceta) Economic community = a group of nations organized to work toward common goals in the regulation to international trade.
