International marketing, 15th ed.
At the start of the last millennium, the Chinese were the preeminent international traders. Although a truly global trading system would not evolve until some 500 years later, Chinese silk had been available in Europe since Roman times. At the start of the last century the British military, merc...
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Format: | Book |
Language: | English |
Published: |
McGraw-Hill/Irwin
2020
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Online Access: | http://dspace.uniten.edu.my/jspui/handle/123456789/17626 |
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Summary: | At the start of the last millennium, the Chinese were the preeminent
international traders. Although a truly global trading
system would not evolve until some 500 years later, Chinese
silk had been available in Europe since Roman times.
At the start of the last century the British military, merchants,
and manufacturers dominated the seas and international
commerce. Literally, the sun did not set on the British
Empire.
At the start of the last decade, the United States had
surged past a faltering Japan to retake the lead in global
commerce. The American domination of information technology
has since been followed by the political upheaval
of 9/11 and the economic shocks of 2001 and 2008. China
started that decade as the largest military threat to the
United States, and at the decade’s end, it has become a leading,
often diffi cult trading partner.
What surprises do the new decade, century, and millennium
hold in store for all of us? Toward the end of the last
decade, natural disasters and wars hampered commerce and
human progress. The battle to balance economic growth and
stewardship of the environment continues. The globalization
of markets has certainly accelerated through almost universal
acceptance of the democratic free enterprise model and
new communication technologies, including cell phones
and the Internet. Which will prove the better, Chinese gradualism
or the Russian big-bang approach to economic and
political reform? Will the information technology boom of
the previous decade be followed by a demographics bust
when American baby boomers begin to try to retire after
2012? Or will NAFTA and the young folks in Mexico provide
a much needed demographic balance? Ten years out the
debate about global warming should be settled—more data
and better science will yield the answers. Will the economic
tsunami of 2008–2009 evolve into something even worse?
What unforeseen advances or disasters will the biological
sciences bring us? Will we conquer AIDS⁄HIV in Africa?
Will weapons and warfare become obsolete?
International marketing will play a key role in providing
positive answers to all these questions. We know that trade
causes peace and prosperity by promoting creativity, mutual
understanding, and interdependence. Markets are burgeoning
in emerging economies in eastern Europe, the Commonwealth
of Independent States, China, Indonesia, Korea,
India, Mexico, Chile, Brazil, and Argentina—in short, globally.
These emerging economies hold the promise of huge
markets in the future. In the more mature markets of the industrialized
world, opportunity and challenge also abound as
consumers’ tastes become more sophisticated and complex
and as the hoped for rebound in purchasing power provides
consumers with new means of satisfying new demands. |
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