over -- Half Title -- Title Page -- Copyright Page -- Table of Contents -- Preface -- Prologue: Ode to the Yes Era -- Maps -- 1. An Introduction to International Business and Multinational Corporations -- Current Scope and Historical Antecedents -- What Is International Business? -- Brief History of International Business -- The Multinational Corporation -- Definition of a Multinational Corporation -- Multinational Corporations Come of Age -- A Look at Present-Day Multinationals -- Operating Advantages and Disadvantages of Multinationals -- Recent Trends in World Trade -- Expanding Volume -- Increased Competition. Increasing ComplexityTrade in Services -- The Field of International Business Studies -- Discussion Questions -- Bibliography -- Globalization at the Crossroads: Germany's Mittelstand and Competitive Advantage -- Case Study 1.1: Transworld Minerals Inc. -- 2. The Nature of International Business -- Domestic Versus International Business -- Methods of Going International -- Exporting -- Licensing -- Franchising -- Management Contracts -- Contract Manufacturing -- Direct Investment -- Strategic Alliances -- Wholly Owned Subsidiaries -- Globalized Operations -- Portfolio Investments. Recent Trade Patterns and Changes in Global TradeProduct Groups -- Patterns of Direct Investment -- Government Involvement in Trade Restrictions and Incentives -- Protectionism -- Tariffs -- World Trade Organization -- Regional Trade Groups -- Cartels -- Nontariff Barriers to Merchandise Trade -- Quotas -- Nontariff Price Barriers -- Government Restriction of Exports -- Summary -- Discussion Questions -- Bibliography -- Globalization at the Crossroads: Is Securitization the Enemy? -- Case Study 2.1: Electronics International Ltd. -- 3. Theories of Trade and Economic Development -- Introduction to International Trade Theories. MercantilismClassical Theory -- Comparative Advantage -- Weaknesses of Early Theories -- More Recent Theories -- Factor Endowment Theory -- The Leontief Paradox -- Criticisms -- Modern Theories -- International Product Life Cycle Theory -- Other Modern Investment Theories -- Theories of Economic Development -- Rostow's Stages of Economic Growth -- The Big Push: Balanced Versus Unbalanced Growth -- Hirschman's Strategy of Unbalance -- Galbraith's Equilibrium of Poverty -- Sen's Development as Freedom -- The Global Continuum: Where Nations Fall Today -- The Political Continuum -- The Economic Continuum -- Integrating Both Continua. Patterns of World DevelopmentBackground: The Role of GNI -- The Developed Countries -- Upper-Middle-Income Countries -- Low-Income and Lower-Middle-Income Countries -- The Subterranean Economies -- Parallel Tracks: The Continued Diversity of the World Economy -- Summary -- Discussion Questions -- Bibliography -- Globalization at the Crossroads: The Fortune at the Bottom of the Pyramid -- Case Study 3.1: Euromanagé Inc. -- 4. International Monetary System and the Balance of Payments -- International Monetary Terminology -- Hard Currencies -- Soft Currencies -- Convertibility -- Exchange Rate -- Appreciation -- Depreciation. Responsibility: Riad A. Ajami, G. Jason Goddard.