President Trump signed a Presidential memorandum asking the United States Trade Representative (USTR) to investigate China’s laws, policies, practices, and actions and their effect on the U.S. economy. It will likely trigger an investigation into China’s alleged theft of U.S. intellectual property.
Our Special Initiative: Immigration and Immigrant Integration Through Trade
Migration from less developed economies and its effect on corporate and individual international business performance
Michael R. Czinkota
Professors Czinkota of Georgetown University, Knight of Williamette University and Khan of the University of Kent have initiated theories on entry strategies into international markets. Czinkota co-developed the ‘stage theory of internationalization’ where firms typically enter markets abroad over two years. Knight co-developed the ‘born global’ theory, where improved communication enhances access to international markets right from firm foundation. Khan specializes in trade from emerging economies towards wealthy nations. We intend to marry our theories with analyses of immigrants and immigration to clarify immigrant contribution to international trade.
Globalization has been associated with widespread migration of people moving from less developed to developed economies for political, economic, or social reasons. Business survival is a major factor that predicts the success of immigrant entrepreneurs and of immigrants generally, in the U.S. Recent statistics indicated that more than 12 percent of residents in the U.S. are immigrants. Remittances sent home by migrants are substantial, and often represent a significant proportion of home country gross national product. In general, migrants play important roles in their host countries. For example, migrants in the U.S. operate as entrepreneurs, investors in capital markets, tourists, volunteers, and advocates. They bring various assets, resources, international experience, social networks, a sense of patriotism and social cohesion, bridges to foreign investors, and entrepreneurial knowledge and experience. Many such migrants draw on resources from their home and host countries to economically adapt to the U.S., and launch new businesses by becoming entrepreneurs. These transnational entrepreneurs often launch businesses that involve trade and investment between the United States and the migrants’ home countries
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When queried at a 1909 business meeting about the choice of colors available for his automobiles, Henry Ford replied that customers could have any color they wanted as long as it is black. Fast forward to the late 20th and early 21st centuries and consumers today are now in the driver’s seat (no pun intended). Publications such as Consumer Reports, CNET, and a myriad of other independent professional and consumer reviews of goods and services empower buyers, dictating to producers the style, features, and price ranges that consumers seek.
The first round of the US-China Comprehensive Economic Dialogue was held in Washington DC. The U.S. Treasury Secretary Steve Mnuchin, Commerce Secretary Wilbur Ross and China’s Vice Premier Wang Yang co-hosted the dialogue.
This new dialogue was established by Presidents Xi Jinping and Donald Trump at the Mar-a-Lago April meeting in Palm Beach. Since then, the 100-day economic plan for cooperation between the world’s two largest economies has achieved results. The low-hanging fruit harvest addressed agricultural products, agricultural cooperation, financial cooperation, and infrastructure investment cooperation. In addition, China abolished restrictions on imports of American beef. The U.S. delegation in turn attended the international cooperation forum held in May in Beijing, as a signal of support for China’s “Belt and Road” initiative. (The Belt and Road Initiative is a development strategy proposed by China’s president Xi Jinping that focuses on connectivity and cooperation between Eurasian countries, including the land-based Silk Belt and the Maritime Silk Road.)