Expanding into new territory is an exciting venture, but not without its risks. Before consideration of globalization, you should have a trustworthy International Attorney on retainer to ensure smooth transition. In partnership with your attorney, there are three critical points of action that will help you to avoid any catastrophes in the process…
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She dreamed of creating cell phones and is actually credited with creating an early model of smartphones in the year 1997. Cher went on to co-found and chair HTC, and VIA Technologies that develops silicon chip technology for cell phones, and is considered to be the most successful woman in business globally. Her net worth is valued at 1.1 Billion U.S. Dollars. (Via Rachel White).
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If your contracts and policy manuals have not been updated, move it to the top right along with your fiscal year planning. If you are one of those companies where planning was done last year or years before for this new decade, congratulations, we are trying to keep up with you, but if you have not yet put those goals and ideas down on paper and discussed them with your department heads (which could be you and all your many hats) then let's get the ball moving.
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The U.S. Ambassador to India - Harsh Shringla - released just yesterday (January 8, 2020) that the United States and India are in talks about an exclusive trade agreement. The agreement would grant business owners of both nations preferential market access. Shringla, the now-former ambassador is set to take on his role as India's next foreign secretary later on this month.
His comments state that there has been success in bridging the gap during the latest trade talks for new trade packages. The current conversations are setting a stage for a much bigger bilateral trade agreement.
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Since the outbreak of the Coronavirus, the world has stayed attached to their mobile devices and computers, waiting for updates in real-time on the growing epidemic that many fear could become a global pandemic that makes the SARS outbreak of 2003 appear tame. The world was frankly - not prepared for a global pandemic, and speculation is flying on what it could mean…
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We have discussed the social and cultural Factors before, but make sure you know what the literacy rate is and the average educational level in the country? If you are selling to or your product is designed for the middle class, make sure there actually is a middle class that would support your product?
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When imports enter a country they normally have a tariff or a tax. So for example: when you are purchasing an item from France it’s more expensive because of a duty that the importer had to pay for it to come in. When a Trade Agreement is negotiated there is an elimination of that tax then the import comes in freely and the item may be less expensive than one you could purchase in the United States. If too many of those items are coming in then there may be concerns that there needs to be protection of that industry.
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When I think of how to begin the negotiation of a contract in a different culture, I first want to make sure that I know something about the culture. Generally, how 85% of the people act, think, and behave. "What is important to them? " I ask myself. Inevitably, I read about the culture, the history, talk to people who have done business in the culture and most definitely go to visit the place when possible.
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The Sanctions, under President Obama, the first U.S. President to visit since the embargo, authorized specific licenses for travel conditions and other transactions directly related to attendance or professional meetings in Cuba. This did not change the sanctions, but simply softened them. With a change of policy came diplomatic travel which included increase in tourist industries; with U.S. businesses going in and Cuban entrepreneurs opening up their homes for restaurants and cars for joyrides.
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Part of the reason why travel to Cuba is so expensive now that the travel and trade bans have been modified is that the embargo that was placed in the year 1961, is still very much codified in U.S. legislation. As a result, there are a number of regulatory restrictions in place that are projected to take several more years to dismantle. While these regulations are in place, all business people interested in doing business in Cuba have to carefully side-step the minefield of restrictions – which can be a slight deterrent to commerce.
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The main contributor to the Chinese GDP is manufacturing. “Made in China” used to mean “low-cost labor stuff.” China has now transformed itself and although fewer products may be made in China, they are still within the region and Chinese products will be slightly more expensive.
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