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

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CHAPTER 19

New Horizons

CHAPTER CONTENTS & LEARNING OBJECTIVES

THE INTERNATIONAL BUSINESS ENVIRONMENT

1. To understand the many changing dimensions that shape international business

GLOBALIZATION AND FRICTION

2. To comprehend the future impact of globalization, its effect on trade negotiations, and the trade-offs between international collaboration and national sovereignty

THE FUTURE OF INTERNATIONAL BUSINESS MANAGEMENT

3. To understand the various factors needed for the future success of firms in international markets

CAREERS IN INTERNATIONAL BUSINESS

4. To be informed about different career opportunities in international business

Bankers See Scrooge Alive in London

Bankers in London received a lump of coal in their Christmas stockings in 2009 when Alistair Darling, the U.K. finance minister announced a 50 percent tax on all U.K. bank bonuses above £25,000 (about US$40,000). The “supertax,” scheduled to be applied in 2010, affects about 20,000 bankers employed by British banks and all foreign banks operating in the United Kingdom. Perhaps the bankers who make such large bonuses might not be the modern equivalents of Bob Cratchit, but they reacted to Darling's announcement as if Ebenezer Scrooge had taken away the Christmas goose from Tiny Tim. Bankers in “The City of London” were maddened by the announcement, and rumors immediately began to fly that bankers would be leaving London in droves. This raised the issue that the United Kingdom government might be sacrificing the golden ...

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