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Summary Introduction to International Business
Introduction to International Business
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Introduction to International BusinessBiz 113 is an introduction to business and the picture is a shot of Beijing in the evening one
of the big international business centres of the world. We 're talking about how the
economies of different countries come together through trade. The real money is in the kind
of what you would consider boring applications like File compressions if you ever watch the
show Silicon Valley. Trade has existed since before the beginning of civilization so
civilizations have been commonly accepted that they start to spring up somewhere between
3000 BCE and 2,000 BCE some of the big initial civilizations you had the Mesopotamians in
what is now known as Iran Iraq in parts of Turkey. You know items were treated between
farms small family groupings so a small dairy farm might trade with a small wheat farm.
International trade evolved throughout the last 5000 years at a steady pace but the Dutch in
the 17th century early 1600s developed large-scale shipping trade routes from Europe and
the Middle East to Africa and Asia which literally opened up the world to the Dutch. The
importance of precious metals also increased as some communities mined for gold and
silver and then traded for food and supplies this eventually led to the development of money
which could be used to buy and sell commodities.
The cost of labor the availability of natural resources and the level of know-how vary greatly
around the world. Countries are importers when they buy goods and services from other
countries. If a country sells more products than it buys it has a favourable balance called a
trade surplus if a country buys more than it sells it has an unfavourable balance or a trade
deficit. The United States has had a trade deficit we buy farm or goods from the rest of the
world than we sell overseas. China is number one but look at Canada and Mexico almost
600 million billion dollars each the top three are really the numbers to look at. Japan and
Germany primarily are providing us our vehicles to a large extent South Korea Samsung
products the vast majority of that 119 billion comes from cellphones. Contract
manufacturing is quite common in US apparel and technology with most American brands
being made in a number of Asian countries including China and India. Information
technology has become something that can be easily outsourced to countries with lower
labor costs especially those countries that speak English because most Americans only
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