国际贸易第1章经济全球化英文版.docx

国际贸易第1章经济全球化英文版.docx

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国际贸易第1章经济全球化英文版

国际贸易第1章（经济全球化英文版）

　　　　　　　　InternationalTrade　　　　ChapterI.Globalization　　　　LEARNINGOBJECTIVES　　Afteryouhavereadthischapteryoushould:

　　LO1Understandwhatismeantbythetermglobalization.LO2Befamiliarwiththemaindriversofglobalization.　　LO3Appreciatethechangingnatureoftheglobaleconomy.　　LO4Understandthemainargumentsinthedebateovertheimpactofglobalization.　　LO5Appreciatehavetheprocessofglobalizationiscreatingopportunitiesandchallengesfarbusinessmanagers.　　FlatPanelTelevisionsandtheGlobalEconomy　　　　Theybeginasglasspanelsthataremanufacturedinhigh-technologyfabricationcentersinSouthKorea,Taiwan,andJapan.Operatingsophisticatedtoolinginenvironmentsthatmustbekeptabsolutelyclean,thesefactoriesproducesheetsofglasstwiceaslargeaskingsizebedstoexactingspecifications.Fromthere,theglasspanelstraveltoMexicanplantslocatedalongsidetheborder.Theretheyarecuttosize,combinedwithelectroniccomponentsshippedinfromAsiaandtheUnitedStates,assembledintofinishedTVs,andloadedontotrucksboundfor　　retailstoresintheUnitedStates.　　It’sahugebusiness.In2006,consumersspentsome$billiononflatpanelTVs,a63percentincreaseovertheamountspentin2005.Projectionscallforsalestohit$37billionby2008-despitethefactthatduetointensecompetition,pricesforflatpaneldisplayshavebeentumblingandareprojectedtocontinuedoingso.During2006alone,pricesfor40-inchflatpanelTVsfellfrom$3,000to$1,600,bringingthemwithinthereachofmanymoreconsumers.In200?

halfofallTVssoldintheUnitedStateswillbeflatpanelTVs.　　TheunderlyingtechnologyforflatpaneldisplayswasinventedintheUnitedStatesinthelate1960sbyRCA.ButafterRCAandrivalsWestinghouseandXeroxoptednottopursuethetechnology,theJapanesecompanySharpmadeaggressiveinvestmentsinflatpaneldisplays.Bytheearly1990sSharpwassellingthefirstflatpanelscreens,butastheJapaneseeconomyplungedintoadecade-longrecession,investmentleadershipshiftedtoSouthKoreancompaniessuchasSamsung.Thenthe1997AsiancrisishitKoreahard,andTaiwanesecompaniesseizedleadership.Today,Chinesecompaniesarestartingtoelbowtheirwayintotheflatpaneldisplaymanufacturingbusiness.　　Asproductionforflatpaneldisplaysmigratesitswayaroundthe　　globetolow-costlocations,clearwinnersandlosershaveemerged.OneobviouswinnerhasbeenU.S.consumers,whohavebenefitedfromthefallingpricesofflatpanelTVsandaresnappingthemupOtherwinnersincludeefficientmanufacturerswhohavetakenadvantageofgloballydispersedsupplychainstomakeandselllow-cost,high-qualityflatpanelTVs.ForemostamongthesehasbeentheCalifornia-basedcompany,Vizio.FoundedbyaTaiwaneseimmigrant,injustfouryearssalesofVizioflatpanelTVsballoonedfromnothingto$700millionin2006.Thecompanyisforecastingsalesashighas$2billionfor2007.Vizio,however,hasonly75employees.Theseemployeesfocusonfinalproductdesign,sales.andcustomerservice,whileViziooutsourcesmostofitsengineeringwork,allofitsmanufacturing,andmuchofitslogistics.Foreachofitsmodels,Vizioassemblesateamofsupplierpartnersstrungacrosstheglobe.Its42-inchflatpanelTV,forexample,containsapanelfromSouthKorea,electroniccomponentsfromChina,andprocessorsfromtheUnitedStates,anditisassembledinMexico.Vizio’smanagersscourtheglobecontinuallyforthecheapestmanufacturersofflatpaneldisplaysandelectroniccomponents.TheysellmostoftheirTVstolargediscountretailerssuchasCostcoandSam’sClub.Goodordervisibilityfromretailers,coupledwithtightmanagementofgloballogistics,allowsVizioto　　turnoveritsinventoryeverythreeweeks,twiceasfastasmanyofitscompetitorswhichisamajorsourceofcostsavinginabusinesswherepricesarefallingcontinually.　　IfVizioexemplifiesthewinnersinthisglobalindustry,thelosersincludetheemployeesofmanufacturerswhomaketraditionalcathoderayTVsinhigh-costlocations.In2006,forexample,JapaneseelectronicsmanufacturerSanyolaidoff300employeesatitsfactory,andanotherJapanesecompany,Hitachi,closeditsTVmanufacturingplantinSouthCarolina,layingoff200employees.BothSonyandHitachi,ofcourse,stillmakeTVs,buttheyareflatpanelTVsassembledinMexicofromcomponentsmanufacturedinAsia.　　Introduction　　　　Afundamentalshiftisoccurring,intheworldeconomy.Wearemovingawayfromaworldinwhichnationaleconomieswererelativelyself-containedentities,isolatedfromeachotherbybarrierstocross-bordertradeandinvestment;bydistance,timezones,andlanguage;ardbynationaldifferencesingovernmentregulation,culture,andbusinesssystems.Andwearemovingtowardaworldinwhichharrierstocross-bordertradeand　　investmentaredeclining;perceiveddistanceisshrinking,duetoadvancesintransportationandtelecommunicationstechnology;materialcultureisstartingtolooksimilartheworldover;andnationaleconomiesaremergingintoaninterdependent,integratedglobaleconomicsystem.Theprocessbywhichthisisoccurringiscommonlyreferredtoasglobalization.　　Whatishappening,inthefiatpanelTVIndustry,whichwasprofiledintheOpeningCase,isaclassicillustrationoftheimpactofglobalization.ProductionofflatpanelTVsismigratingaroundtheglobetolow-costlocations.TVsthatViziosellsintheUnitedStates,forexample,aleassembledinMexicofromflatpanelsmanufacturedinSouthKorea,electroniccomponentsmadeinChina,andmicroprocessorsmadeintheUnitedStates.Bydispersingdifferentactivitiesaroundtheglobetowheretheycanbeperformedmostefficiently,andthencoordinating,theentireproductionprocess,companieslikeViziocandeliverflatpanelTVstoAmericanconsumersatmuchlowerpricesthanwouldotherwisebepossible.Americanconsumersbenefitfromthelowerprice,asdoe;VizioanditsstrategicpartnersinSouthKorea,China,theUnitedStates.andMexico.Theprocessofglobalizationalsohaslosers,however,andthelosersinthiscaseareworkersinhighcostlocationswhohavelosttheirjobs.Aswewillseeinthisbook

　　　　　　whetherglobalizationbenefitsorharmsnationaleconomies.WewilllookatwhateconomictheoryhastosayabouttheoutsourcingofmanufacturingandservicejobstoplacessuchasIndiaandChinaandatthebenefitsandcostsofoutsourcing,notjusttobusinessfirmsandtheiremployees,butalsotoentireeconomies.First,though,weneedtogetabetteroverviewofthenatureandprocessofglobalization,andthatisthefunctionofthecurrentchapter.　　WhatIsGlobalization?

　　Asusedinthisbook,globalizationreferstotheshifttowardamoreintegratedandinterdependentworldeconomy.Globalizationhasseveralfacets,includingtheglobalizationofmarketsandtheglobalizationofproduction.　　THEGLOBALIZATIONOFMARKETS　　Theglobalizationofmarketsreferstothemergingofhistoricallydistinctandseparatenationalmarketsintoonehugeglobalmarketplace.Fallingbarrierstocross-bordertradehavemadeiteasiertosellinternationally.Ithasbeenarguedforsometimethatthetastesandpreferencesofconsumersindifferentnationsare　　beginningtoconvergeonsomeglobalnorm,therebyhelpingtocreateaglobalmarket.ConsumerproductssuchasCitigroupcreditcards,Coca-Colasoftdrinks.SonyPlayStationvideogames,McDonald’shamburgers,Starbuckscoffee,andIKEAfurniturearefrequentlyidentifiedasprototypicalexamplesofthistrend.Firmssuchasthesearemorethanjustbenefactorsofthistrend:

theyarealsofacilitatorsofit.Byofferingthesamebasicproductworldwide,theyhelptocreateaglobalmarket.　　Acompanydoesnothavetobethesizeofthesemultinationalgiantstofacilitateandbenefitfromtheglobalizationofmarkets.IntheUnitedStates,forexample,nearly90percentoffirmsthatexportaresmallbusinessesemployinglessthan100people,andtheirshareoftotalUSexportshasgrownsteadilyoverthelastdecadetonowexceed20percent.Firmswithlessthan500employeesaccountedfor97percentofallUSexportersandalmost30percentofallexportsbyvalue.TypicaloftheseisHytech,aNewYorkbasedmanufacturerofsolarpanelsthatgenerates40percentofits$3millioninannualsalesfromexportstofivecountries,orB&SAircraftAlloys,anotherNewYorkcompanywhoseexportsaccountfor40percentofits$8millionannualrevenues.Thesituationissimilarinseveralothernations.InGermany,forexample,whichistheworld’slargestexporter,astaggering98　　percentofsmallandmid-sizedcompanieshaveexposuretointernationalmarkets,eitherviaexportsorinternationalproduction.　　DespitetheglobalprevalenceofCitigroupcreditcards,McDonald’shamburgers,Starbuckscoffee,andIKEAstores,itisimportantnottopushtoofartheviewthatnationalmarketsaregivingwaytotheglobalmarket.Asweshallseeinlaterchapters,significantdifferencesstillexistamongnationalmarketsalongmanyrelevantdimensions,includingconsumertastesandpreferences,distributionchannels,culturallyembeddedvaluesystems,businesssystems,andlegalregulations.Thesedifferencesfrequentlyrequirecompaniestocustomizemarketingstrategies,productfeatures,andoperatingpracticestobestmatchconditionsinaparticularcountry.　　Themostglobalmarketscurrentlyarenotmarketsforconsumerproducts-wherenationaldifferencesintastesandpreferencesarestilloftenimportantenoughtoactasabrakeonglobalization-butmarketsforindustrialgoodsan