Summary Global Business Today, ISBN: 9781260088373 - International Business (INTBUS)
28 views 1 purchase
Course
International Business (INTBUS)
Institution
Nyenrode Business Universiteit (Nyenrode)
Book
Global Business Today
This is a comprehensive and complete summary of all lectures for the course international Business for the study Business Administration on Nyenrode Business University. Every lecture, chapters from the book Global Business Today (ISBN: 9781260088373) are covered as study material. This summary pro...
Complete Test Bank Global Business Today 11th Edition Hill Questions & Answers with rationales (Chapter 1-17)
Samenvatting Global Business Today, ISBN: 9781260088373 International Business
All for this textbook (3)
Written for
Nyenrode Business Universiteit (Nyenrode)
Business Administration
International Business (INTBUS)
All documents for this subject (1)
Seller
Follow
BSCBA
Content preview
Lecture 1 & 2
Chapter 1, 2, 3 + Singapore Case
Globalization: The shift toward a more integrated and interdependent world economy
Difference between Chinese GDP & GNP
- Gross domestic product (GDP): value of a nation’s finished domestic goods and
services during a specific time period. Alles wat door het land wordt gemaakt
- Gross national product (GNP): value of all finished goods and services owned by a
country’s residents over a period of time. Alles wat het land maakt en bezit
Shortcomings of GDP
- Not including unpaid work
- Not capturing full value of improvements in product quality
- No black sector
- Negative by-products may reduce our economic well-being (Green GDP)
- No info on income inequality
Measuring economic development
- Human development report
- World Happiness Report
, - Donut economy
To ensure that no one falls short on life’s essentials (food, healthcare etc), while
ensuring that collectively we do not overshoot our pressure on Earth’s life-supporting
systems, on which we fundamentally depend.
Nominal GDP per capita: nominal GDP divided by population
“Average” per-person output of the economy
→ Is calculated at the current market price
Calculated with inflation
GDP per capita in PPP: GDP adjusted by Purchasing Power Parity divided by total
population.
→ Purchasing Power Parity: Economic productivity and standard of living between
, countries.
→ Compare different countries’ currencies through the ‘basket of goods’ approach
→ Resembles the actual market
GDP at MER: GDP adjusted by observed Market Exchange Rates
E7 - Emerging 7
→ China, India, Brazil, Turkey, Russia, Mexico and Indonesia
G7 - Group of 7
→ Canada, France, Germany, Italy, Japan, United Kingdom and United States
Middle income trap: Concept in which a country that attains a certain income gets stuck at
that level hence hindering development.
Singapore Case
- Has had economic growth since gaining independence in 1965
- Competitive challenges increased since 2000s
→ China and India expanded export and foreign investment
→ Vietnam, Philippines, Malaysia, Thailand and Indonesia increased
competitiveness
Origins of Modern Singapore
- Historically Singapore has been an important trading center
- British East India Company founded modern Singapore.
→ Seek to forestall colonial advanced by the Dutch & France
→ Complement nearby British posts at Penang & Malacca
- Earning revenue through center for trade and transhipment within a year
- Population grew from 150 to 10,700 within five years
- Singapore developed an Entrepot Economy
→ Entrepot Economy = Seaport or warehouse hub. No additional processing
taking place with no customs duties imposed.
1965 - 1970
- Developed a classic Entrepot economy
- Changed power dynamic
- The ‘elite’ group of Singapore had many different functions in the country
- People had to save money (mandatory)
- Government was proactive in planning/organizing infrastructure
- Immediately welcomed FDI
→ Stable exchange rates
, → Limit trade unions (Moderate labor costs)
- Government put a lot of equity stakes in local private companies.
1980’s
- Shift of low wage strategy – high wage strategy
- Shifted attention to higher value, higher productivity products
→ Higher value added
- No governmental support for inefficient firms (might go bankrupt)
→ Skilled workers go to successful companies that can make better use of them.
1990’s & 2000s
- More attention to social & economic growth, infrastructure & institutions
→ Education, advisory body for expatriate Singaporeans, research institutions to
support companies expanding to world markets
- Fundamental economic restructuring
→ Economic Review Committee
→ Deputy prime minister, Several ministers, Chairman Economic
Development board, Secretary general of national trade union congress,
prominent CEOs, chairman of Singapore National Employers Federation
2008
- Aging population
→ Increase in attractiveness of having goods to increase labor pool
- Export was 400% of GDP
- Maintain FDI
- Put economic portfolio into different clusters: Petrochemicals,
Transportation/logistics, Finance & Information Technology
Explanation economic development in Singapore
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BSCBA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.39. You're not tied to anything after your purchase.
