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International Business, 8th Edition by Michael H. Moffett, Iikka A. Ronkainen, Michael Czinkota

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CHAPTER 2

Trade and Investment Policies

CHAPTER CONTENTS & LEARNING OBJECTIVES

RATIONALE AND GOALS OF TRADE AND INVESTMENT POLICIES

1. To see how trade and investment policies have historically been a subset of domestic policies

GLOBAL TRADE REGULATION SINCE 1945

2. To examine how traditional attitudes toward trade and investment policies are changing

CHANGES IN THE GLOBAL POLICY ENVIRONMENT

3. To see the effects of global links in trade and investment on policymakers

POLICY RESPONSES TO CHANGING CONDITIONS

4. To understand that nations must cooperate closely in the future to maintain a viable global trade and investment environment

A STRATEGIC OUTLOOK FOR TRADE AND INVESTMENT POLICIES

5. To understand what polices are needed to achieve a growing, viable global trade and investment environment

The Global Economic Crisis and Lessons from the Depression

In 2007, serious imbalances in the U.S. subprime mortgage market triggered a financial crisis that soon spread globally and triggered the biggest worldwide economic recession and the first contraction in global output since World War II. Unemployment climbed sharply in the United States and the major developed nations in 2008–2009 as tightened global credit flows and reduced consumer spending led to diminished industrial production.

With companies unable to access capital financing and customers nervous about making large purchases, there was a collapse in demand for durable goods and a sharp decline in the production of and global ...

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